CU*SOUTH, a credit union service organization, announced that the CU-owned CUSO has closed its conversion calendar for 2018 with a record-setting thirteen core conversions.
“More and more credit unions are opting for the agility and security of a cloud-based core platform,” said Starla Honea, VP of operations at CU*SOUTH. “They’re leaving the old legacy systems operated by the ‘Big-4’ banking software vendors and taking control of their future through ownership and collaboration with their peers.”
“If you look at the Core Data Processing Guide published by Callahan,” added Ms. Honea, “you’ll see a total of 53 core vendors listed. 46 of those 53 lost market share and a couple held even. Only five core providers increased the number of credit unions served – and of those five, three offered the CU*BASE® solution.”
“CU*SOUTH is proud to offer CU*BASE to credit unions throughout the Southeast U.S.,” said Derrick Smith, COO of CU*SOUTH. “We’re not just selling software, we’re building a network of owners and collaborators who have elected to work together to build something special.”
“It’s all about the members,” added Leo Vaulin, CEO of CU*SOUTH. “We see credit unions as the heroes in their members’ lives. If you use that as your guiding principle, it becomes easy to figure out how to structure our software and our organization to support credit unions in their mission. We invite credit unions to allow us to help them achieve their dreams, both through software tools and through the experience we’ve gained helping credit unions grow.”
About CU*SOUTH, Inc.
CU*SOUTH is a credit union-owned cooperative focused on building a network of successful credit unions. CU*SOUTH offers a wide variety of services including the Tier-1 CU*BASE® processing system offered in both online (ASP) and in-house processing environments, as well as a fully-integrated online and mobile banking solution. CU*SOUTH also provides a variety of managed services through its CUSO@Work division, as well as through collaborative partnerships with other CUSOs in the rapidly-growing cuasterisk.com network—CU*Answers, CU*NorthWest, eDOC Innovations, Xtend, and Site-Four. Managed services allow credit unions to outsource tasks at a fraction of the cost of a full-time specialist—accounting, collections, compliance, lending, marketing, call center, web design. As a partner of the cuasterisk.com network, CU*SOUTH provides the most comprehensive offering of information technology tools and services through a collaborative, shared ownership model, with the same great value credit unions offer members. For more information, visit www.cusouth.com.