The $30 million-asset Great Meadow Federal Credit Union has agreed to convert its core data processing system to CUProdigy’s core system, the credit union service organization announced today.
Granville, N.Y.-based Great Meadow FCU will convert to Layton, Utah-based CUProdigy’s cloud-based system on Feb. 1, 2018.
“As we continued to grow, we realized we [needed] a core that can make us more efficient and help us save money instead of spend more money,” Ryan Roberts, CEO of Great Meadow FCU, said in a press release. “In addition to the money we’ll save with CUProdigy’s dollar-per-member pricing, we’ll also be able to eliminate some third-party products, thanks to functionality that’s built right into the core. This will allow us to give back to the members in greater dividends or in investments in additional products and services.”
Roberts expects the CU to save from 7.5 percent to 10 percent in expenses by switching. The CUSO, with an API-driven core, does not charge for third-party integrations as CUs bring on new products.
“It’s exciting to bring a growth-oriented credit union like Great Meadow into the CUProdigy family,” Anthony Montgomery, CUProdigy CEO, said in the release. “Our powerful, affordable core platform can have a big impact on credit union operations, and ultimately on the member experience.”