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Bronco Federal Credit Union Selects Open Solutions

Tuesday 21 September 2004 17:13 CET | News

Bronco Federal Credit Union (BFCU) has selected Open Solutions The Complete Credit Union Solution (TCCUS) as its core data processing platform.

Open Solutions relational data processing and enterprise system will enable Bronco FCU to become even more member-focused and capable of meeting the increasing financial service needs of its growing membership. Chartered in 1941, BFCU began operations with a small number of share accounts and limited loan availability but focused on providing quality member service. By 1991, BFCUs membership was almost 6,900, and today the credit union boasts 14,000 members. The investigation encompassed requests for proposals (RFPs), onsite demos and extensive due diligence before selecting Open Solutions as its core platform provider. By gaining an understanding of their members financial needs, BFCU anticipates becoming more competitive with other mega banks in the area. TCCUS open Oracle-based relational database architecture was also a determining factor in the selection process. According to Thompson, TCCUS was not a legacy system that had disparate front ends built on top of it. Despite other vendors claims that their systems were open, BFCU found that Open Solutions TCCUS was truly open. The open-based architecture, flexibility and scaleable enterprise platform, was important because the fully integrated retail delivery system melded with BFCUs strategic plans to incorporate third-party best-of-breed products. In addition, BFCU wants to offer indirect lending. BFCU also plans to integrate other Open Solutions products, such as its FTI Financial Technologies Asset/Liability Management and Financial Planning System for general ledger, accounts payable and fixed assets; its Sound Mortgage Management System, its Maxxar interactive voice response (IVR) system, and its cView(TM) business-intelligence suite.


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Categories: Banking & Fintech | Online & Mobile Banking
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