GRAND RAPIDS, Mich. – CU*Answers, a credit union-owned core data processer, on Monday said it has signed two credit unions to CU*BASE data processing agreements.
University of Toledo Federal Credit Union, a $68 million CU that serves 6,800 members from its headquarters in Toledo, Ohio, is scheduled for an April 2016 conversion date.
Kansas City Credit Union, which has 7,000 members and $32 million in assets, is based in Kansas City, Mo.
The two CUs are the 10th and 11th new client conversions scheduled to convert to CU*BASE for the upcoming 2016 fiscal year, the company said.
Both credit unions will implement CU*Answers' SaaS processing solution, including member self-service features. The credit unions also are planning to deploy CU*Answers' online imaging solution, which offers an online e-document management strategy, and is hosted, supported and managed by CU*Answers.
Rapid Growth For CUSO
CU*Answers and its cuasterisk.com network partners, CU*NorthWest and CU*South, said the core data processing system CU*BASE now exceeds 260 credit unions in 36 states, with a combined 2.2 million members processed daily. This includes a record 20 new CU*BASE conversions completed during the 2015 fiscal year, adding 176,000 members.
"We have seen incredible growth over the last decade," Scott Page, CU*Answers executive vice president, said in a statement. "In 2010, CU*BASE represented 104 credit unions and 804,000 members. We have nearly tripled those processing numbers since then, and show no signs of slowing. We are excited to welcome the next million members to CU*BASE and the extensive network of products and services we have worked to build."
CU*Answers said it has converted more than 50,000 new credit union members to CU*BASE in the past 30 days. CU*Answers converted 10 new credit unions during its 2015 fiscal year, and an additional nine inbound credit union mergers, representing a total of approximately 150,000 members converted to CU*BASE.
