Newtrend to Operate In-House Data Center for Third Federal
Third Federal Savings and Loan Association, Cleveland, has signed a multiyear contract for Newtrend of Orlando, Fla., to provide data processing services.
Third Federal, a $3.3-billion asset thrift and Ohio's largest originator of mortgage loans, is converting from a service bureau arrangement with Milwaukee-based Fisery Inc. to an in-house data center that will be managed by Newtrend.
Staff Cuts Not Expected
The conversion to Newtrend is unlikely to result in staff reductions at the thrift.
The new facility will be staffed by Newtrend employees.
Newtrend will use the center as its base in Ohio and plans to sell processing services to other banks in the state.
The terms of the eight-year contract were not disclosed.
Using Miser2 Software
Newtrend will process Third Federal's core banking applications, including deposit and loan products, financial management, and customer service, on its Miser2 software that runs on Unisys mainframes.
The conversion is scheduled for completion by spring of 1992.