Horizon Federal Credit Union of Williamsport, Pa. is set to convert its core processing system to NewSolutions from Share One, Inc. on Nov. 1 of this year, the two organizations announced today.
“Our present core system is currently maxed out of suffix options and doesn’t offer all the solutions that we need as a growing credit union,” said Justin Howard, president and CEO of the $72 million credit union, which serves two counties in Pennsylvania. “When searching for a new core, our desire was to find a system that would foster our growth and improve efficiencies by minimizing our third-party vendors.”
In order to facilitate membership growth, Howard added, Horizon FCU wanted to include an affinity debit card program, a custom tier-based ODP program and a relationship-based patronage program.
“With NewSolutions, we will be able to design these programs within the system without having to seek solutions via third-party vendors,” Howard said.
He also cited the recent field of membership changes by NCUA as “great news” for his credit union, because they would like to expand from serving their two counties to additional counties in their area.
“Our credit union has experienced tremendous loan growth, up from 49% to 73% loan-to-share ratio,” Howard explained. “We need a core system that promotes workflow efficiencies and doesn’t hinder our productivity or our members’ accessibility to their funds.”
According to the credit union’s call reports, Horizon FCU’s membership has remained flat from 2015 to 2016 – roughly at 10,200 each year.
Don Conrad, SVP of sales at Share One Inc., said his company is “pleased” to become Horizon FCU’s partner.
“Their organization will continue to grow and succeed as they discover all of the nearly limitless abilities to utilize NewSolutions because the system is so robust,” Conrad said.
