Credit union technology is specialized financial-based technology that provides integration, security and functionality for any number of banking services. The issues for big and small credit unions are the same: whether it's the platform or the software, credit union technology systems need services and solutions ranging from online checking, loan applications, ATM functionality, telephony, and websites that are fast, accurate and secure.

A credit union can customize credit union software to its' specific needs. You want software that's flexible, adapts to the needs of your institution as it changes, and you want your employees to be well-trained so they can hit the ground running when the system is in place. Consider the following:

1. Choose vendors who offer specific credit union data processing technology needs for your institution.

2. Evaluate customized credit union software solutions that fit your institution's needs providing functionality, adaptability and can integrate with future credit union technology innovations.

3. Opt for complete packages that offer both hardware and software credit technology systems, along with training and support.

Action Steps
The best contacts and resources to help you get it done

Choose those who specialize in data processing for credit union tech

Smaller credit unions that want to stay up with the bigger institutions can outsource their technology to credit union data processors, making management focus more on building customer relations rather than back-end operations.

I recommend: Credit Union Data Processing (CUDP) offers a service-driven software system in both in-house and Internet-based to help you get the most effective solutions for your credit union. COCC provides data processing for credit unions that includes check processing, debit and ATM card transaction solutions, along with teller software, secure Internet communications and more. They pride themselves on being the "better data processor" for credit unions and other financial institutions.

Find credit union software that gives the support you need to safeguard your customers' money

Credit union software is available to service credit unions of any size. Not only do you want software that fulfills the needs of your credit union and customers' needs, but you need something that's easy to upgrade as your business changes.

I recommend: CU Soft is a credit union software provider with a product that's easy to use. Take a test drive and review the online demo. Teres Solutions offers software that supports increased productivity and real-time integration. View their demo.

Package hardware and software credit union technology solutions with one vendor

Large and small credit unions can benefit from complete packages and services that offer credit union technology solutions bundled together including software, hardware, support and training to make your financial institution run efficiently.

I recommend: Open Solutions, a full-service provider of technology for credit unions, offers ManagerGold, a premiere credit union technology package, along with full training for your staff. Gulf Data Systems has been around since the '70s and is a one-stop source for your technology needs, priding themselves on customizing services to your credit union technology needs. Fidelity National Information Services provides total financial solutions that are comprehensive, fully integrated and delivered via a single point of contact.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consultants who employ credit union data processors are helpful if you are doing a major overhaul of your current system.