West Michigan-based cooperative CUSO CU*Answers announced it has signed a CU*BASE® core processing agreement with the newly formed rkGoBig CUSO located in Middletown, Pennsylvania. rkGoBig is comprised of six credit unions in Pennsylvania, Maryland and Washington DC with a common goal of reducing expenses through synchronized operations while maintaining the unique identity of each CU. The CUSO currently serves over 65,000 members and $560 million in combined assets.
During the past year the participating credit unions collaborated closely to research and select a common data processing technology partner to serve as the foundation for their future development, and ultimately landed on the CU*BASE core processing platform. Everence Federal Credit Union ($156M, Lancaster, PA) was the first of the six credit unions to make the switch, and completed the conversion process to an online processing environment in May 2015. The remaining credit unions will convert over the course of the next 18 months. The CUSO’s current strategy includes migrating all six credit unions to a consolidated in-house CU*BASE processing environment in late 2016 or 2017.
Peter Barnard, rkGoBig CEO said, “In forming this CUSO, a primary objective was based upon the Rekindle movement, created and led by Mid-Atlantic Corporate Federal Credit Union. Rekindle works to promote credit union collaboration as an alternative to merging. rkGoBig is an offshoot of the broader Rekindle effort. As part of our global back office convergence, one of our first steps was to identify a common core platform. CU*Answers just gets it. CU*Answers’ shared credit union-owned platforms, intelligently and inexpensively deployed, allow rkGoBig to make real the vision of a new model. The network effect of collaborative work is the basis of Rekindle and the basis of CU*Answers.”
Randy Karnes, CU*Answers CEO added, “I am always so appreciative when credit union leaders who are focused on the real and hard work it takes to “change the game” for their cooperatives include us in their effort, and this one really gets me going. What so many people accept as intuitive, cooperation and collaboration, so few really master the work it takes to deliver. I like this group, and I trust they will work hard to harvest new outcomes. CU*Answers and our cuasterisk.com network will be a constant in that effort as well. Innovation is an easy goal, but innovation realized is the stuff members need. rkGOBig is on the way to delivering what members need.”
As part of their processing agreement, the CUSO members will be using a wide array of core CU*BASE services, including the It’s Me 247 online banking system, e-statements, e-alerts and e-notices, mobile web, mobile text, and CU*Talk audio response.
The project will also incorporate a robust imaging solution, including forms packages, e‑signatures, and a member image portal; a variety of CU*Answers Network Services offerings; and Xtend CUSO partner’s services for call center and back office related tasks.