The $1.6-billion First Tech Credit Union said it will convert to Open Solutions Inc. relational core technology, managed by Open Technology Solutions (OTS). First Tech has joined OTS as an equal owner of the CUSO with $1.6-billion Bellco Credit Union (CO) and $2.2-billion Bethpage Federal Credit Union (NY). First Tech's investment follows recommendations from consultants Cornerstone Advisors, Inc. to invest in the OTS CUSO and co-source the management of the new Open Solutions system.
"Joining OTS gives us the opportunity to share business and technical expertise, using more effective technology at a lower cost to all CUSO participants," stated Tom Sargent, President and Chief Executive Officer of First Tech. A conversion project is in place involving staff across the enterprise.
Separately, Open Solutions Canada said that three of its clients -Grand Forks District Savings, Operating Engineers and Sharons Credit Unions-have renewed their data services agreements with Open Solutions Canada for an additional five years. All are based in British Columbia.
For info: www.opensolutions.com.
