Open Solutions Signs up Another Credit Union

Maryland-based State Employees Credit Union , has announced it will implement Open Solutions Inc.'s cView product for CRM and business intelligence as part of The Complete Credit Union Solution, Open's relational core data processing platform for credit unions.

SECU is equal owner in Open Technology Solutions (News - Alert). They will be running TCCUS through OTS, a CUSO that runs Open Solutions technology.

With $1.6 billion in assets, 15 branches and more than 243,000 members, SECU joined OTS as an equal owner of the CUSO with $1.6 billion Colorado-based Bellco Credit Union, $2.3 billion New York-based Bethpage Federal Credit Union and $1.6 billion Oregon-based First Tech Credit Union.

Open Solutions’ open architecture and member-centric platform is now the underlying technology for all four credit unions. SECU President and CEO, Rod Staatz, said his company works in a "highly customized environment and therefore, the open architecture was ultimately the key technology factor in our decision."

The Complete Credit Union Solution is built on a centralized Oracle (News - Alert) relational database designed to be an open architecture application, creating the flexibility necessary for running a service-oriented financial institution.

In addition to The Complete Credit Union Solution and cView, SECU is implementing Open Solutions’ Interactive Management Center and Channel Management Center, an interface between disparate systems, premium overdraft protection and telephony products.

Earlier this month Open Solutions announced that Tampa-based GTE Federal Credit Union implemented The Complete Credit Union Solution and "other complementary products."

Early this year Livonia, Mich.-based Co-op Services Credit Union selected The Complete Credit Union Solution and "other complementary applications" to address its data processing needs. The credit union has approximately $280 million in assets, 45,000 members and six locations.

The Open Solutions product is built on a single centralized Oracle relational database and offers Internet banking, cash management, CRM, business intelligence, financial accounting tools, imaging, digital documents and a bushel of other services.

David Sims is a contributing editor for TMCnet. For more articles please visit David Sims' columnist page.

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