$200 million Edwards Federal Credit Union has agreed to convert its core data processing system to CUProdigy’s core system, the credit union service organization announced today.
“Since we had already engaged with Prodigy for their cloud solution and were happy with that relationship, we figured we would at least let them make their pitch,” Roy MacKinnon, CEO of the Edwards, Calif.-based CU, said in a press release. “Over the next several hours as the CUProdigy team presented we were all floored.”
MacKinnon chose the Salt Lake City-based CUSO’s core because of its functionality—it’s integrated LOS to ODP and Collections and Collateral Insurance capabilities. Saving more than $500,000 from Edwards FCU’s current contract, the CEO said he would envision his CU growing into and maximizing the core’s value potential.
MacKinnon also chose CUProdigy because of the CUSO’s modern coding.
“A major vendor said their core was coded in PL/1,” he said. “We later learned this language was developed in the 1960s to replace other same era assembler codes. I was amazed when I learned this. I mean, who invests in 50-year-old technology?”