CU*NorthWest, a core data processing provider based in Liberty Lake, Wash., on Wednesday said $53.7 million County Schools Federal Credit Union of Ventura, Calif., has successfully converted to the CU*BASE data processing system.
County Schools FCU serves 7,400 members.
CU*NorthWest was founded in 2005 as a part of the cuasterisk.com network of credit unions and credit union service organizations. It is a 100 percent credit union-owned cooperative CUSO.
According to CU*NorthWest, after the conversion County Schools FCU was able to offer its members “new and improved” services, including It’s Me 247 Online Banking, mobile banking and electronic document storage. The CUSO said the credit union’s staff now has access to a variety of tracking and reporting dashboards as part of the comprehensive data processing system, allowing the credit union to better serve existing members.
County Schools FCU represents the 12th California-based credit union currently utilizing CU*NorthWest for core processing services. There are two more California credit unions pending conversion, the CUSO said.
In 2016, County Schools FCU reported $286,547 in net income. As of Dec. 31, 2016, its net worth ratio was 7.83 percent (“well capitalized”).
In its most recent Call Report, for the third quarter of 2017, County Schools FCU reported $6,861 in net income. As of Sept. 30, 2017, its net worth ratio was 7.23 percent (“well capitalized”).