Bellco Credit Union here and New York-based Bethpage FCU have formed a CUSO called Open Technology Solutions, LLC that its backers say allows credit unions to share expertise, computer hardware, and supporting systems that interface with Open Solutions Inc. (OSI).
The new CUSO, initially supporting Bellco Credit Union and Bethpage Federal Credit Union, assists participants with new applications, customization, faster product launches and shared disaster recovery solutions. "This marks the first time a CUSO has combined these technologies into one suite of applications," the credit unions said.
"Together, we will have the business and financial strength to do things that neither credit union could easily do alone," says Doug Ferraro, president and CEO of the $1.16-billion Bellco Credit Union. "We hope the success of this CUSO will attract other new partners to the OSI system, giving us even further leverage in the future."
In 2000, Bellco adopted Glastonbury, Conn.-based OSI, a platform that provides core data processing, Internet banking and e-commerce financial solutions for credit unions and community banks. Bethpage plans to convert to the OSI system in November 2003.
Leading the new organization is Mike Atkins, Bellco's former CIO, along with Steve Markwell, executive director, Tim Luth, operations director and Dave Bruscher, Network Director. The CUSO is located in Englewood, Colo.
