SnoCope CU, a small credit union in the US state of Washington, is revamping its core processing technology with CUProdigy.

The new cloud-based platform will replace Fiserv‘s Galaxy solution, Banking Technology understands.

SnoCope CU swaps Fiserv for CUProdigy

SnoCope CU swaps Fiserv for CUProdigy

The credit union hopes the project will save it around $100,000 a year following the core conversion. This will be achieved in three different ways, says CEO Steve Ellis.

“First, we’re going to be saving about $7,000 a month on our data processing bill,” he explains. “Plus, I’m going to be able to eliminate a number of third-party products because CUProdigy has the necessary features built in.

“And finally, on the third-party products we do decide to keep, CUProdigy will integrate them for free.”

The incumbent core processor, Fiserv, was charging both up-front and monthly fees for most of its third-party integrations, he adds.

SnoCope has $55 million in assets and 6,200 members.

CUProdigy is a Utah-based credit union service organisation (CUSO) that provides a cloud-based core processing platform and IT infrastructure services to financial institutions in the US.