Since the beginning of the computer era, data processing systems have been at the “core” of every business model, not just for credit unions. There are many reasons why data processing conversions might be needed. With proper planning anything is possible and that includes a dynamite core conversion. This guide is designed to help credit unions successfully maneuver a data processing conversion, but could really be used to help any business navigate that change.
Our guide uses a 12 month timeframe as a starting point to prepare for conversion; however this can be customized to fit what works best for the user. The cost to complete this project is mainly the time put in by the employees who assemble the core conversion team. After the process has been completed, you will have a core processor that meets the needs of your members and your credit union. This core should be aligned to grow with your credit union and allow for efficiencies that may reduce the cost of manpower.
Following the simple steps in the guide will make the process easier, but will also complete the due diligence that is required. The steps included in the guide are as follows:
Assembling your Core Evaluation Team:
Your team should be made up of individuals from each area of your credit union that can meet at least once a week. These individuals should be ready to give honest and helpful feedback regarding the data processing systems.