SnoCope Credit Union in Everett, Wash. has signed a contract to convert its core procesing system to CUProdigy.
SnoCope’s CEO Steve Ellis stated that the conversion could potentially give the credit union up to $100,000 in savings annually.
“First, we’re going to be saving about $7,000 a month on our data-processing bill,” he said. “Plus, I’m going to be able to eliminate a number of third-party products because CUProdigy has the necessary features built in.”
Finally, Ellis added, “on the third-party products we do decide to keep, CUProdigy will integrate them for free.” Ellis cited that their former core processor charged both up-front and monthly fees for most of their third-party integrations.
“We understand credit union margins are tight and believe in delivering maximum value as part of our dollar-per-member-per-month pricing,” said Anthony W. Montgomery, CEO of the Layton, Utah-based CUProdigy. “Whether that value is built-in functionality, free integrations, or all-inclusive support, we really want our credit unions to prosper.”
According to its call reports, SnoCope generated a net income of about $328,000 last year, after recording about $261,000 in 2015.
