FLEX announces new core conversions, strengthening its position with mid-sized credit unions
SANDY, UT (March 14, 2017) — Salt Lake City-based core processor, FLEX, has announced the conversion of several credit unions to their data processing platform between 5/1/16 and 3/1/17. Most of the converted credit unions are native to the lower 48 states. However, with this announcement, FLEX is expanding its reach into the warmer climes of Hawaii by bringing on Kuakini Medical & Dental Federal Credit Union and Honolulu Federal Credit Union.
With the recently converted credit unions, averaging 7,758 members and $89 million in assets, FLEX has strengthened its position in today’s core processing industry through serving the needs of mid-sized institutions. In the FLEX client portfolio of over 250 credit unions, the average credit union has $54 Million in assets, boasts loan growth of 7.01%, share growth of 5.18%, and member growth of 1.14%.
“In an environment where small and mid-sized credit unions are being swallowed up in mergers, growth and scalability are imperative to survival, yet are contingent on the efficiency of the core processor,” details Sean Holcomb, Chief Operating Officer for FLEX. “While there are a great deal of options when it comes to your credit union core system, FLEX core technology is a system designed for maximum efficiency in today’s evolving market.”
FLEX’s 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 out 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.” Additionally, Mark Munemitsu, CEO of recently converted Honolulu Federal Credit Union said, “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.”
Credit union core conversions are no small undertaking, and it is generally perceived in the industry to be one of the most important vendor relationships. “If a credit union is questioning whether or not their current core provider has the right software for them, they will also likely question the headaches involved in switching,” explains Preston Packer, Director of Sales and Marketing for FLEX. “While we understand that undergoing a core conversion can be difficult for credit unions, we also view it as being a time when new and improved relationships can be formed..”
The investments FLEX has made into both the technology behind the core and their partnerships with their credit union base have paid off.. Having signed 13 credit unions prior to closing out 2016, FLEX will have another busy year of conversions in 2017 and looks forward to the new relationships being formed with credit unions around the nation.
Below is a detailed listing of the eight newest core conversions to FLEX:
Spirit Financial Credit Union:
CEO: Jessica Blair
Location: Levittown, PA
Waterfront Credit Union:
CEO: Rebecca Schmidt
Location: Seattle, Washington
Transtar Federal Credit Union:
CEO: James Tuggle
Location: Houston, Texas
Kuakini Medical & Dental Federal Credit Union:
CEO: Keith Nakamura
Location: Honolulu, Hawaii
Money One Federal Credit Union:
CEO: Beverly Zook
Location: Largo, Maryland
Lubrizol Employees’ Credit Union:
CEO: Rose Flores
Location: Deer Park, Texas
Members First Credit Union:
CEO: Brad Barber
Location: Brigham City, Utah
Honolulu Federal Credit Union:
CEO: Mark Munemitsu
Location, Honolulu, Hawaii
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.