PowerNet Credit Union has signed a contract with credit union service organization CU*Answers to convert its core data processing system to CU*BASE, the CUSO’s flagship processing system.
The $85 million CU, based in Tampa, Fla., will convert in March 2018.
CU*Answers was notified by PowerNet’s CEO Donald Prue that he wanted the CU to convert to the CUSO’s platform, said Scott Collins, executive vice president of national sales and marketplace relationships for CU*Answers. Collins is excited to see CU*BASE expand into the Tampa area.
“We have some great customer-owners in the state, and I have no doubt that PowerNet will not only be a positive contributor to our cooperative nationally, they will also be an active collaborator with their local peers,” Collins said.
PowerNet earned just over $89,000 in net income through the first two quarters of 2017, compared to $74,886 for the same time last year and $130,829 the year before that.