credit union core conversion

FLEX Announces Conversions to its Data Processing Platform

Sandy, Utah (January 2018) – Salt Lake City-based core processor, FLEX, has announced the conversion of several credit unions to their core data processing platform in 2017.

The recently converted credit unions average 7,295 members and $81 million in assets. FLEX continues to strengthen its position in the present core processing space. As of the 2018 issue of Callahan and Associates’ Core Processor Supplier Market Share Guide, FLEX ranks #6 in total number of credit union clients and #4 in credit union clients between $50 and $250 million in assets.

“We know that as a technology provider for credit unions, we are the toolbelt that our clients rely on to achieve operational efficiencies.” details Sean Holcomb, Chief Operating Officer for FLEX. “A credit unions growth must always be attributed to sound leadership; however, efficient technology is a lever that makes that growth scalable.”

“When evaluating potential core systems, many credit union executives are looking for a partner that supports growth, is evolving through the incorporation of today’s technological standards and is compatible with the credit union’s culture”, explains Preston Packer, Director of Sales and Marketing for FLEX. “Our corporate culture has long considered each of its credit unions to be a partner and is invested in their individual success.”

Darryn Hodgson, Executive Vice President of the recently converted Members First Credit Union of Brigham City, Utah, confirmed FLEX’s position on partnership when he stated, “The final decision came down to the company culture. We wanted to partner with a core that would listen to our needs and help us accomplish our goals.” Additionally, Mark Munemitsu, CEO of Honolulu Federal Credit Union said, “The management and staff at FLEX are personable and make you feel important as a partner, and not just another client that pays their bill. The FLEX team strives to address our concerns and I know I can always pick up the phone and talk to FLEX COO, Sean Holcomb, or any member of his executive management team if I so desire.”

While core conversions undoubtedly bring many hours of preparation, implementation and training, they also bring the opportunity for unprecedented accomplishments. One month after the New York-based Parks Heritage Federal Credit Union converted to FLEX, CEO Anthony LaPointe confided, “My senior loan officer was out for a week and I helped field loan applications during that time. Thanks to FLEX and their built-in integration of eSignatures, I was personally able to fund 27 loans in a single day”. “FLEX is interested in helping credit unions spend more time with their members and less time chasing paperwork”, said Jim Simonsen, CTO at FLEX.

The resources and development FLEX has invested into both the technology behind the core system and their partnerships with their credit union base have paid off. With 8 credit union conversions in 2017 and an additional 9 credit unions signed and committed to convert in 2018, FLEX is positioned to continue its growth and increase its market share in the credit union core processing space.

Below is a detailed listing of the eight core conversions to FLEX:

Members First Credit Union
CEO: Brad Barber
Location: Brigham City, Utah
Assets: $116.7
Members: 14,740

Caprock Federal Credit Union
CEO: Dale Hansard
Location: Lamesa, Texas
Assets: $29.3
Members: 3,379

Honolulu Federal Credit Union
CEO: Mark Munemitsu
Location: Honolulu, Hawaii
Assets: $258.4
Members: 15,702

Lubrizol Employees’ Credit Union
CEO: Rose Flores
Location: Deer Park, Texas
Assets: $45
Members: 2,980

Wellspring Federal Credit Union
CEO: Janna Achord
Location: Bridge City, Texas
Assets: $53.7
Members: 6,112

Coloramo Federal Credit Union
CEO: Mike Moyes
Location: Grand Junction, Colorado
Assets: $95.6
Members: 9,470

Kings Peak Credit Union
CEO: Ron Wood
Location: Roosevelt, Utah
Assets: $15.2
Members: 2,248

Parks Heritage Federal Credit Union
CEO: Anthony LaPointe
Location: Glens Falls, New York
Assets: $29.8
Members: 3,730

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