Portland, Maine-based TruChoice Federal Credit Union has contracted to convert its core data processing platform to CU*Answers’ CU*BASE system on Friday, March 1 in 2019.
TruChoice CEO Ken Acker explained that the credit union's current system was no longer meeting its needs.
"We needed increased effectiveness and efficiencies along with better integration to produce a better experience for our members,” Acker said in a press release Thursday. “So after extensive research of multiple vendors and visits to credit unions who use the systems under consideration, the members of our search team selected CU*Answers and their CU*BASE product.”
TruChoice also anticipates reduced costs and improved service as a result of the conversion, which is expected to increase the total number of members served by CU*Answers core systems by about 12,000.
The $134 million-asset institution joins Cherokee Strip CU, a Ponca City, Okla.-based institution that converted to the CU*Answers CU*BASE system back in
Acker added that, like TruChoice, CU*Answers is a cooperative, while costs for base set up and future data management were other qualifying factors in the conversion decision.
“CU*Answers is providing us with a team focused on making us successful with future investments in the system based on our input as a partner,” Acker said.
Through September, TruChoice has earned $1.3 million in net income, compared with just over $597,000 through the first three quarters of 2017.
