FLEX announces core conversions
SANDY, UT (January 23, 2018) — Salt Lake City-based core processor, FLEX, announces the conversion of multiple credit unions to their core data processing platform during 2017, which averaged 7,295 members and $81 million in assets.
FLEX continues to strengthen its position in the highly competitive core processing space. As of the 2018 issue of Callahan and Associates’ Core Processor Supplier Market Share Guide, FLEX ranks #6 in the total number of credit union clients and #4 in credit union clients between $50 and $250 million in assets.
“We know that as a technology provider for credit unions, we are the toolbelt that our clients rely on to achieve operational efficiencies,” details Sean Holcomb, Chief Operating Officer for FLEX. “A credit union’s growth must always be attributed to sound leadership; however, efficient technology is a lever that makes that growth scalable.”
“When evaluating potential core systems, many credit union executives are looking for a partner that supports growth, is evolving through the incorporation of today’s technological standards, and is compatible with the credit union’s culture,” explains Preston Packer, Director of Sales and Marketing for FLEX. “Our corporate culture has long considered each of its credit unions to be a partner, and is invested in their individual success.”
Darryn Hodgson, Executive Vice President of the recently converted Members First Credit Union of Brigham City, Utah, confirmed FLEX’s position on partnership when he stated, “The final decision came down to the company culture. We wanted to partner with a core that would listen to our needs and help us accomplish our goals.” Mark Munemitsu, CEO of Honolulu Federal Credit Union, added, “The management and staff at FLEX are personable and make you feel important as a partner, and not just another client that pays their bill. The FLEX team strives to address our concerns, and I know I can always pick up the phone and talk to FLEX COO, Sean Holcomb, or any member of his executive management team, if I so desire.”
While core conversions undoubtedly bring many hours of preparation, implementation and training, they also bring the opportunity for unprecedented accomplishments. One month after the New York-based Parks Heritage Federal Credit Union converted to FLEX, CEO Anthony LaPointe confided, “My senior loan officer was out for a week, and I helped field loan applications during that time. Thanks to FLEX and their built-in integration of eSignatures, I was personally able to fund twenty seven loans in a single day”.
Jim Simonsen, CTO at FLEX, expressed his thoughts on the strength of the FLEX company culture, “FLEX is interested in helping credit unions spend more time with their members and less time chasing paperwork.”
The resources and development FLEX has invested into both the technology behind the core system as well as their partnerships with their credit union base have paid off. With eight credit union conversions in 2017 and an additional eight credit unions signed and committed to convert in 2018, FLEX is positioned to continue its growth and increase its market share in the credit union core processing space.
For 40 years FLEX has developed and delivered advanced core technology to credit unions, including built-in support and single-point access to eDocuments, cards, lending with auto decisioning & eSignatures, check-21, Internet banking, mobile banking, remote deposit, document management and overdraft privilege. With over 250 credit unions in 48 states including Alaska, Hawaii, and the Eastern Caribbean, FLEX enjoys established relationships with all regulatory agencies, corporate credit unions and major industry partners. In recent years, credit union industry personnel ranked FLEX first among competing vendors for customer satisfaction, visit www.flexcutech.com.