Los Angeles Firemen’s Credit Union Selects Open Solutions’ DNA Core Data Processing Platform
GLASTONBURY, Conn., July 23, 2008 – Los Angeles Firemen’s Credit Union (LAFCU), based in Los Angeles, Calif., recently selected Open Solutions Inc.’sÒ latest version of its popular relational core data processing platform -- The Complete Credit Union SolutionÒ: DNA to efficiently address its enterprise-wide data processing needs. Open Solutions Inc. is a leading provider of integrated enabling technologies for financial institutions in the United States, Canada and other international markets.
With more than $800 million in assets, LAFCU has more than 26,000 member accounts and serves professional firefighters and their families throughout the state of California. The credit union cited Open Solutions’ flexible, open architecture as a key factor in selecting the solution.
“Open Solutions’ platform was simply the best fit because of its ability to support our on-going efforts in providing tailored services to our members,” said George Kings, VP, Information Systems for LAFCU. “Additionally, TCCUS: DNA will give us the flexibility to not only support us now, but in the future.”
Built on a powerful OracleÒ relational database, The Complete Credit Union Solution’s open architecture and member-centric platform is designed to help credit unions streamline both the front- and back-office applications with a strong focus on member service. The Open Solutions core platform offers credit unions a centralized relationship-based view of its specific relationships with members, employees and business partners.
During the two-year vendor selection process, LAFCU’s entire institution participated in the final decision. “The decision was organizationally-driven. We work as a team, and we wanted everyone involved to ensure we made the best decision possible for our institution and for our members,” said Kings.
In addition to The Complete Credit Union Solution: DNA data processing platform, LAFCU will also implement Open Solutions’ full cView™ CRM suite, the Financial Accounting Suite, the loan origination system and telephone/VRU.
According to Mike Mastro, president/CEO for LAFCU, “By partnering with Open Solutions, we expect to expand our member services. We have an immense respect for the firefighters of California and regard them as friends and family. Open Solutions’ flexible, adaptable platform corresponds with our innovative efforts to enhance our members’ financial lives, and we are excited to work with Open Solutions moving forward.”
“LA Firemen’s Credit Union provides a broad and unique range of services to enhance the quality of firefighters’ financial lives,” said Louis Hernandez, Jr., Open Solutions chairman and CEO. “Their dedication and commitment to serve these men and women across the state of California is commendable, and we are pleased to work with such an institution. LAFCU is focused on utilizing technology and its people to drive down costs, develop new sources of income and to generate additional business. With our open platform, LAFCU can better support its members’ financial needs, and we look forward to helping them expand their services and continue to offer exceptional products.”