$787 million National Institutes of Health Federal Credit Union selects Corelation’s KeyStone for their technology forward approach
SAN DIEGO, CA (February 26, 2021) —
Over the last few years, National Institutes of Health Federal Credit Union ($787 million assets; 42,749 members; Rockville, MD) has worked to adopt a more technology-forward approach to serving their vital field of membership: employees of the National Institutes of Health and also all workers in the healthcare and biomedical industries. The need to upgrade to a modern core processor became increasingly apparent as they began this endeavor and after a nearly year-long search, NIH Federal Credit Union has selected Corelation’s KeyStone.
For NIH Federal Credit Union, the core selection process was an enterprise-wide effort with representatives from all departments and their executive leadership team. The final decision took a democratic approach, which led to a nearly unanimous vote in favor of KeyStone.
“Corelation’s focus on one product [KeyStone] and dedication to continuously enhancing that product really resonated with us,” explained NIH Federal Credit Union Executive Vice President and Chief Operating Officer Jesse Boyer. “KeyStone will allow our credit union to better serve our very important membership. We especially look forward to more efficient integrations with our digital banking and interactive teller machines.”
KeyStone’s ecosystem of ‘More in the Core’ features was a significant factor in the credit union’s decision, particularly the accounting and loan origination functionality native to the core.
“From our very first impression, what attracted us to Corelation was the opportunity to partner with an innovative, technology-focused company on a similar growth trajectory,” shared NIH Federal Credit Union Vice President, Information Technology Christopher E. Newell. “Corelation’s collaborative approach to client relationships will allow us to build a truly symbiotic partnership with our core vendor. But what ultimately sealed the deal was KeyStone’s value proposition – we found that Corelation far and away provided the best value for the investment over the long term.”
NIH Federal Credit Union is scheduled to convert in September 2022.
“Since 1940, NIH Federal Credit Union has provided caring, personalized care to their members in the healthcare and biomedical industries,” commented Corelation President/CEO Theresa Benavidez. “The ‘Banking with Heart’ they have provided their members throughout their history is truly commendable, particularly now as the healthcare community continues to navigate the pandemic. We are honored to partner with NIH Federal Credit Union.”
Jesse Boyer
About Corelation Inc.
Based in San Diego, CA, Corelation is the innovative core processor for today’s credit union. This solution is a person-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. In terms of industry experience, Corelation’s staff has dedicated their careers to creating core systems and providing unparalleled client service. For more information, visit www.corelationinc.com.
About National Institutes of Health Federal Credit Union
The National Institutes of Health Federal Credit Union (NIHFCU) is a full-service not-for-profit financial co-operative based in Rockville, MD. With assets over $789 million, and its network of branches, ATMs, and digital banking systems, the NIHFCU currently serves over 43,000 members, primarily within Washington DC area’s healthcare and biomedical industries. With a range of accounts, affordable loans and other convenient banking solutions, the credit union is dedicated to helping its members achieve their financial goals for themselves and their families. For more information on the NIHFCU, including how to become a member or a NIHFCU@Work affiliated partner, visit www.nihfcu.org.
