LAYTON, Utah–CUProdigy is reporting that by the end-of-summer it will conclude in-house core data processing among its member/client credit unions, as they are moved to a cloud environment.
The CUSO reported that it recently completed a core migration for Community Choice Credit Union ($56 million in assets; 6,700 members) of Commerce City, Colo., from an in-house installation to CUProdigy’s private cloud. It was the first of 12 such migrations to the cloud that CUProdigy said it will complete this summer. Once finished, CUProdigy will have no remaining in-house deployments of its core platform.
The move will free up $50,000 a year in staff time and outside assistance, according to Community Choice President Rainy Thoen. “We’ve always been happy with CUProdigy’s core system, but given increasing compliance burdens, not to mention heightened security concerns, managing an in-house system just didn’t make sense anymore. The savings are fantastic, but our real priority was improving data security measures. The CUProdigy team includes several experts focused on state-of-the-art equipment and security.”
Thoen also said the migration went very smoothly and had minimal impact on the credit union’s employees and members.
“Around the industry, I hear people talking about the cloud like it’s tomorrow’s technology,” said CUProdigy president Anthony Montgomery, “but we believe it’s what credit unions need today. When you look at security, and look at compliance, and look at the competition, quite frankly, nothing else makes sense.”