San Diego-based credit union core processing vendor Corelation, Inc., on Friday said it signed Diamond Credit Union to its KeyStone system.
The $573 million CU, based in Pottstown, Pa., will convert in April 2019.
Jim Daly, Diamond CU’s chief information officer, said the credit union’s current core data processor had met its needs for a significant period of time – since the late 1980s. However, Daly and his team had become “increasingly concerned” that the system architecture did not readily support third-party software systems, thus limiting choices for best-of-breed considerations.
“This situation placed serious concerns about the viability of the system as we continued to grow and the needs of our organization continued to grow into the future,” Daly said in a statement. “Frequent changes in ownership resulted in frequent changes in direction, vision and priorities, which essentially halted all meaningful progress.”
Corelation said a few of Diamond’s goals using KeyStone include: easier and faster training of new hires; ability to grow the credit union with better systems in place; no restrictions on a third-party solution if Diamond feels that the third party brings a best-of-breed or competitive advantage to the organization; and using modern technology.
Daly added Keystone “seems easy to learn,” and provides front line staff with all of the information they need to assist a member in one screen. Since Keystone is browser based, he said that makes updates much easier for Diamond’s IT team moving forward. With the new core, he also expects front line staff to spend more time listening to and assisting members and less time clicking around on a page to find information.
“Corelation has demonstrated a willingness to collaborate with a credit union in developing the core so they can make the core better for everyone, and builds those solutions in a timely manner,” he said. “Corelation is poised for growth as a young company, but has significant credit union experience and expertise which allow it to act like a much more mature organization.”
“It is always refreshing to have a credit union like Diamond so proactive about enhancing its future – and this is how all of our credit union partners are: eager to succeed for their members,” said Theresa Benavidez, Corelation’s president and CEO. “Diamond fits perfectly with our core community and we look forward to helping the credit union remain proactive about its future success leveraging our open technology and unique culture.”
