Express Credit Union Upgrades to Open Solutions’ Member-Centric Relationship-Based Core Processing Platform

Provider Supports Credit Union’s Efforts to Serve Low-, Moderate-Income Families with Upgrade

GLASTONBURY, Conn.--(allCUnews.com)--Open Solutions Inc.®, a leading provider of integrated, data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, announced that Express Credit Union (ECU), a $9 million-asset credit union based in Seattle, Wash., has upgraded to The Complete Credit Union Solution® -sme (Standard Market Edition) to address their enterprise-wide core processing needs. TCCUS-sme is an open, flexible core system, built on a powerful, centralized relational database, designed to be a full-featured, easily implemented and competitively priced solution targeted toward the more traditional credit union market.

In addition to serving its existing members, ECU, in partnership with BECU (formerly Boeing Employees Credit Union), recently expanded to provide affordable financial services to low- and moderate-income families in King County. Open Solutions donated a portion of the Upgrade and Licensing fee based on the existing relationships with both ECU and BECU.

“Open Solutions has a long-standing relationship with BECU, so when they approached us about ECU’s initiative to provide banking services to an underserved community, we were more than happy to donate our technology,” said Ross Curtis, Open Solutions’ group EVP, North America. “With Open Solutions’ TCCUS-sme, ECU can better meet the needs of their community, and we are pleased to be a part of that initiative.”

“We cannot begin to express our gratitude for Open Solutions’ contribution,” said Brenda Kurz, CEO of ECU. “With their help, we have upgraded our core system to the latest version, enabling us to provide customized products and services to our members. Our goal is to provide access to quality financial services to create lasting financial stability for our community, and to specifically meet the diverse needs of lower to moderate-income families while continuing to deliver value to middle and upper income families. With Open Solutions’ support, we’re able to achieve that and we look forward to our continued relationship with them.”

Additionally, ECU provides member services in a ‘mobile’ environment. For many lower income individuals, physical visits to the bank can be challenging and often not an option. To make financial services available to all members, credit union representatives are sent to a total of 16 social service agency locations to help members open accounts, deposit paychecks and apply for small loans. ECU was able to expand its service offering and provide remote services to members by upgrading to TCCUS-sme.

Introduced in 2006, TCCUS-sme has continued to gain momentum among credit unions seeking a lower cost solution with significant functionality. With TCCUS-sme, credit unions can select either the in-house or outsourced processing option to support their initiatives. Open Solutions also provides credit unions of all sizes with a fully-featured product platform, integrating core processing with strategic applications such as Internet banking, business intelligence, financial accounting applications, electronic imaging, payment and interactive voice response solutions.

“Open Solutions is committed to serving communities across the nation, and we do so by serving those communities’ financial institutions to ensure they can provide the best quality services possible,” said Louis Hernandez, Jr., chairman and CEO of Open Solutions. “By upgrading to TCCUS-sme, ECU can deliver outstanding member service and help families living paycheck to paycheck. We have a history with both ECU and BECU, and we are continuously impressed with their dedication to the state of Washington. We look forward to continuing our relationship with these exceptional credit unions, and will continue to support their efforts to better serve their communities.”

About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle® relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, wealth management, interactive voice response, technology services, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

Open Solutions Inc and The Complete Credit Union Solution are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2009 Open Solutions Inc. All rights reserved.

Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.
Contacts

Open Solutions Inc.
Deborah Katz, 860.815.5385
VP, Corporate Marketing
deb.katz@opensolutions.com [1]
or
For Open Solutions
Andrew McCaskill, 678-781-7210
www.opensolutions.com [2]