RAPID CITY, S.D. - (08/03/04) -- Black Hills FCU, the state's largestcredit union, has contracted with TWS Systems Inc. To convert itstransactions processing operations to an image-based system. The$480 million credit union chose IMAGECENTER BY TWS, a back officeprocessing solution , to serve as a collection point fortransactions originating at its branches. The open design ofIMAGECENTER will allow the credit union to protect its investmentin its existing technology and eliminate the need for expensivesystem modifications.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.
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AlumniFi, the digital banking arm of Michigan State University's official credit union, is now an official bank partner for the NCAA's Big East conference.
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