A credit union in Minnesota expects to reap cost savings with its new core processor.
Great River Federal Credit Union in St. Cloud, Minn., expects to save $10,000 per month by switching to the core system from CUProdigy, the $178 million-asset institution said on Friday. Those savings equate to the salaries of “an employee or two,” Brant Hicks, Great Rvier’s CEO, said in a press release.
“Plus, the CUProdigy system is so much more efficient than [what] we have now, our people will be more productive,” Hicks stated in the release.
Hicks also cited the credit union service organization’s transparent pricing model as another factor behind Great Rivers’ decision to convert.
Great River posted a net loss of $101,396 in the first nine months of 2018, after posting net income of $615,227 in the same period for 2017.
