Open architecture solution will support credit union’s growth

Sunshine Coast Credit Union, located in British Columbia, Canada, has selected Open Solutions Inc.®’s The Complete Credit Union Solution® as its core banking system. The credit union will complement the core solution with Open Solutions’ Financial Accounting Suite and cView™ knowledge centre modules MyVision™ and ReportWizard™. A long-time Open Solutions Canada client, Sunshine Coast Credit Union will continue to run its data processing through the company’s Vancouver-based data centre.

Sunshine Coast Credit Union is a full-service financial institution that has assets exceeding $295 million CAD and serves more than 14,000 members through branches located in three communities on British Columbia’s “Sunshine Coast,” located just north of Vancouver.

Dale Eichar, CEO of Sunshine Coast Credit Union, said, “Competition for market share among financial institutions in this area is fierce. We’re all striving to become the financial institution of choice for a broadly diverse population and that calls for flexibility and innovation in product and service offerings. In this respect, I believe the credit union has the edge over its competitors due to our local decision-making and local control. That said, we need the technology to be able to capitalize on this ability to be responsive and creative in delivering our products and services. We believe Open Solutions’ banking system meets that technology need.” According to Eichar, the key advantage of Open Solutions’ technology over other systems is the open architecture that makes it so adaptable to rapidly changing business requirements. “We need a technology platform that will keep pace with our growth and evolution. Open Solutions’ Oracle®-based database architecture gives us a system we can build on,” Eichar said.     

Built on a single, centralized Oracle® database, The Complete Credit Union Solution’s open architecture and member-centric platform are designed to help credit unions streamline both front- and back-office applications with a focus on improving member service. Open Solutions’ powerful financial accounting suite is an industry-leading product used by financial institutions of all sizes throughout North America to address their accounting needs. The MyVision and ReportWizard applications are tools to help credit unions focus their marketing efforts by better understanding their members’ needs.

 “We are very pleased Sunshine Coast Credit Union is continuing its long-time relationship with Open Solutions Canada and has selected Open Solutions’ technology to support its business and growth strategies,” said Open Solutions Canada President, Blair Goulet. “We know our clients are facing significant competitive challenges, not only from traditional financial services providers but also from new entrants into the Canadian financial services industry. Open Solutions Canada is proud to have been selected to help Sunshine Coast Credit Union to take advantage of the tremendous opportunities for growth in the communities it serves and become the financial institution that leads the competition.”

Open Solutions Chairman and CEO Louis Hernandez, Jr., said, “Sunshine Coast Credit Union has been client of Open Solutions Canada for many years and we are very pleased our association will continue in the future. We value the credit union’s business, but above all, we value its loyalty. Open Solutions is committed to delivering the ‘vision, technology and service’ to help Sunshine Coast Credit Union achieve its goals.”

About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.