Energy Credit Union of Waltham, Mass., has agreed to use core processing software from the Avon, Conn., service bureau COCC.
COCC announced the deal Thursday and said Energy is the fourth credit union to switch to its core technology this year. Credit unions now make up 26% of COCC's core processing clients, up from fewer than 9% in 2003.
Energy said that the core software would enable it to offer new products and services, including business checking and lending. It also plans to use other COCC applications.
The credit union has almost 5,000 members and $82 million of assets. Both figures have increased more than 70% since 1997, and Energy said it hopes that the COCC technology will help it continue to grow.
