In my thirty years of forming credit union collaborations, I have come to see common lessons, especially in multiply owned CUSOs providing one or more back office operational services. I examine twelve of those lessons in these types of CUSOs. (more…)
Save the date for NACUSO’s 2019 NACUSO Network Conference! Details will be available soon on our conference website at https://www.nacusonetwork.com to book hotel and for more information.
In the toughest competition to date, CU RateReset CEO Keith Kelly once again knocks it out of the park with his 7 minute presentation at the Next Big Idea Competition last week at the NACUSO Network Conference at the Disneyland Hotel.
Two years ago Keith won the competition with CU RateReset. This year he entered with Knocknock, a disruptive digital solution that provides bilateral interaction between the credit union and the member to deliver “just in time offers” based on real time triggers.
Lumin Digital – a PSCU company – has announced that Associated Credit Union of Texas (League City, Texas) has signed a multi-year agreement for Lumin Digital’s cloud-based platform as the credit union’s digital banking solution for retail banking. ACU of Texas will have more than 25,000 active users on the platform and is slated to launch in August 2019.
“We selected Lumin Digital’s retail digital banking solution because of the company’s cutting-edge and innovative technology, as well as the sophisticated look and feel of the online interface and mobile app,” said Clay Franks, Chief Financial Officer of ACU of Texas. “We felt the user experience for our members would be as good – or better – with Lumin Digital’s platform than those at the largest banks against which we are currently competing.”
ACU of Texas’ mission is to offer progressive, responsive, quality financial services to its members. Founded in 1949, the credit union is dedicated to providing these services in a caring, professional manner while maintaining a strong financial base.
“When searching for a digital banking solution, Lumin Digital’s product offered the personalized experience we wanted to provide our members,” added Franks. “Additionally, our relationship with PSCU and its reputation within the credit union industry gave us an even stronger comfort level to engage with Lumin Digital, as we recognize Lumin is backed and supported by the nation’s premier payments CUSO.”
As a cloud-based digital banking platform built using market-leading technology, Lumin Digital provides members of PSCU Owner credit unions with a tightly integrated and customized experience that rivals the offerings available from big banks. In creating a truly personalized journey, Lumin Digital delivers credit unions enlightened engagement, increased value and deepened relationships, all at secure speed with minimal risk.
“At Lumin Digital, we want to provide our credit union partners with a platform that offers their members a truly tailored and unique experience, while also extending the credit unions’ support from inside their lobbies to the digital lives of their members,” said Jeff Chambers, President of Lumin Digital. “We look forward to working with ACU of Texas to provide its members with an unparalleled banking experience while contributing to the credit union’s growth and digital strategy.”
The formation of Lumin Digital was announced at PSCU’s annual Member Forum in April 2018. As a PSCU company, Lumin Digital’s offering provides seamless access to a wide array of PSCU platforms and services, including card services, data analytics and contact center support.
ACU of Texas is the second credit union to select Lumin Digital for digital banking support. Consumers Credit Union was just announced as the first credit union to partner with Lumin Digital in late January with additional partners forthcoming.
For more information, visit LuminDigital.com.
About Lumin Digital
Lumin Digital, a PSCU company headquartered in San Ramon, Calif., delivers digital banking solutions to credit unions across the United States. Founded by financial technology experts, Lumin Digital is redefining digital banking with its proprietary member engagement platform. Through the use of Lumin Digital’s member data and predictive analytics, credit unions will create custom experiences for members, creating a truly personalized journey and connected relationship. For more information, visit LuminDigital.com.
PSCU, the nation’s premier payments CUSO, supports the success of over 900 Owner credit unions representing more than 2 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.
Asterisk Intelligence, a data analytics team at CU*Answers, recently completed a successful round of tool and strategy training sessions with four recently converted credit unions to the CU*Answers core processing system, CU*BASE.
The standard post-conversion training sessions focus on educating credit union staff on the robust dashboard toolset of CU*BASE. The sessions typically take place one month after the conversion date.
Chief Executive Officer Johnny O’Hare of Cherokee Strip Credit Union (Ponca City, OK) summarized his perspective of the trainings with his staff: “The next time I have one of these training conversations with a “big box” core processor, will be the first time I have one. They just don’t happen. With them, you’re converted and simply dropped off at the curb to fend for yourself. Not so with CU*Answers, which is why their solutions are so holistic and robust for us – great job.”
“It’s like CU*Answers sold us a Cadillac and are still around after the sale to make sure we know how to turn on the dashboard lights and adjust the seats,” O’Hare added. “We really get recurring “best practices” training for how to properly use CU*BASE and appreciate all the available features. It’s such a positive experience.”
Dashboards in CU*BASE are designed to support analysis and functionality of data. There are over 90 pre-built dashboard tools available today, each designed to support a dynamic on-screen experience when reviewing and analyzing data. Most recently the Asterisk Intelligence team has converted a select number of dashboards to an equivalent version available via a web application for any credit union who is a subscriber of their Analytics Booth software product. To learn more, visit the CU*Answers website.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $21.5 billion in credit union assets. For more information, visit www.cuanswers.com.