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Highest Rated Core Processors for Credit Unions with Between $100–250M

By CUCollaborate Staff - September 30, 2022

Learn which credit union core processors are the highest rated by CUCollaborate users for institutions with between $100–250 million in assets.


Selecting a credit union core processor is one of the most important decisions any institution faces. The choice of a back-end technology system impacts a credit union’s entire operation, from its current ability to facilitate financial interactions to shaping its future trajectory.

To aid in this decision-making process, CUCollaborate has compiled a proprietary database (VendorFi) available to subscribers on all credit union core processor systems and their clients throughout the industry. VendorFI tracks which systems are the most-implemented by credit unions across different asset classes and collects reviews highlighting the strengths and weaknesses of each core.

In this article, we will examine mid-size credit unions and look specifically at which core processors are the highest rated according to CUCollaborate users within the $100–$250 million asset range.

(Note: for these rankings, a core processor must have at least five credit union clients within the asset class to qualify)

1) Corelation Inc. – KeyStone (Rating within asset range: 6/6)

The KeyStone core processor from Correlation has 79 clients across the credit union industry ranging from as large as $8.2 billion in assets to as low as $3.5 million. The system’s 23 clients in the $100–250 million range have collectively given it the highest rating within the asset class.

Additional data:

The average assets of the 23 credit unions using the KeyStone core processor within this size range is $188.7 million.

The average asset holding for all 79 clients using the core is $710.5 million, and the average membership of these credit unions is 47,734.

Strengths:

The KeyStone core processor scored highly for its native application integration, the interoperability of third party integrations and willingness to work with third parties.

2) Fiserv – CUnify (Rating within asset range: 5.33/6)

Fiserv’s CUnify core processor serves a total of 100 clients across the credit union industry ranging in size from $682.7 million to $3.6 million in assets. The majority (39) come from the $100–250 million size range.

Additional data:

The average assets of the 39 credit unions using the CUnify core processor within this size range is $146.1 million.

The average asset holding for the 100 clients using the system overall is $115.9 million, and the average membership of these credit unions is 9,022.

Strengths:

CUCollaborate users rated the CUnify core processor as above average for its help desk support, disaster recovery/business continuity and the availability of third party integrations.

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3) Jack Henry™ – Symitar® (Rating within asset range: 5.19/6)

By far the most credit unions within this asset range are using the Symitar core processor from Jack Henry, which has 100 clients with between $100–250 million in assets. Overall, the core serves institutions ranging from as large as $27 billion to as small as $3.3 million in assets.

Additional data:

The average assets of the 100 credit unions using the Symitar core processor within this asset class is $171.9 million.

The average asset holding for all 493 clients using the system is $1.3 billion, and the average membership of these credit unions is 76,798.

Strengths:

User reviews noted the availability and interoperability of third party integrations, as well as the willingness to work with third parties as overall positives of the Symitar core processor.

4) Share One, Inc. – NewSolutions (Rating within asset range: 5.17/6)

The NewSolutions core processor serves 99 clients overall, ranging from as large as $2.8 billion in assets to as small as $1.7 million. Of these credit unions, over a quarter (27) fall within the $100–250 million size range.

Additional Data:

The average asset size of the 27 credit unions using the NewSolutions core processor within this size range is $146.3 million.

The average asset holding for all 99 clients using the system is $170.7 million, while the average membership of those credit unions is 11,444.

Strengths:

CUCollaborate users rated the NewSolutions core processor as above average for its deposits capabilities, reporting and information management, and system architecture.

5) VisiFI – I-POWER® (Rating within asset class: 5.14/6)

The VisiFI core processor serves 86 credit unions in total across the industry, ranging from as large as $3.4 billion to as small as $1.2 million in assets. Of these, seven credit unions fall within the $100–250 million asset class.

Additional data:

The average asset size of the seven credit unions using the VisiFI core processor within this size range is $143.2 million.

The average asset holding for all 89 clients using the data system is $133.3 million, and the average membership of these credit unions is 10,063.

Strengths:

User reviews rated the VisiFI core processor as above average for its user training and consulting, willingness to work with third parties, and disaster recovery/business continuity.

 


The Selection Process

Selecting a new core data processor is one of the most important decisions facing a credit union. The right choice can bring major benefits, however it can also be complicated and time-consuming.

At CUCollaborate, we collect and provide both quantitative and qualitative data to help you through this process.

Contact us today to learn about our Core Data Processor Evaluation and Consulting Services, or click below to meet directly with our Managing Director and technology expert for an assessment for your credit union.

Core Processor Assessment

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