All Credit Unions Deserve the Benefit of Cloud Technology

The first two categories for the 2015 CUNA's "Louise Herring Awards" for "Philosophy In Action" were assigned by asset values: less than $50 million and $50 to $250 million.

Mar 14, 2016, 11:52 ET from FedComp

FAIRFAX, Va., March 14, 2016 /PRNewswire/ -- FedComp believes in and for over 30 years has supported small credit unions, whose asset values are below $250 million, and in incorporating the credit union philosophy into their daily operating principles. FedComp's new Mobility Suite of Solutions is designed to assist credit unions with applying the credit union philosophy to their goal of membership growth and financial well-being. The prime objective of FedComp's Mobility Suite of Solutions is to provide "small entity" credit unions, who could not otherwise procure mobile financial services, the ability to supply the same member experience and technology as larger credit unions.

Prior to the establishment of FedComp's Mobility Suite of Solutions, individual CUs would have had to individually contract for these types of services. Now, they are integrated as part of the Platinum 2016 core. The smallest credit union can now afford to leverage the benefits of cloud technologies for their members including a higher level of data security, full regulatory compliance, and greater member banking services. Once the CU's data is securely migrated to the cloud there is an endless list of features the CU can leverage to benefit their member's experience.            

FedComp's Mobility Suite of Solutions saves credit unions the extraordinary expense in time, man-hours and fees normally associated with vendor risk analysis by addressing the following concerns:     

  • Minimum IT impact with maximum credit union's ROI provided by the integration of the Platinum core to the credit union's data-to-vendor services, allowing for the member to be number 1
  • Once the member's data has been migrated to the cloud it is secured from both physical and cyber threats
  • Member access to their data is 24/7, from anywhere, at any time
  • Disaster Recovery & Backup Strategies covered by twin data centers - 2500 miles apart and five 9's of uptime (99.999%)
  • Annual compliance and certifications report available for data center operating systems and staff including SOC 1 Type 2
  • Data center systems are managed and monitored on a regular daily schedule.
  • Technology implementation is no longer an issue, new products-services are seamlessly incorporated without the burden to credit union staff due to core infrastructure management

Appling Louise Herring "Philosophy In Action" maxim required FedComp to mitigate the normal high capital investment of a robust cloud environment. Now, with FedComp's Mobility Suite of Solutions, cloud services are well within the budget of "small entity" credit unions, even those with less than $500,000 in assets.       

Public Relations
FedComp, Inc.
Learn more about FedComp's Platinum 2016 Processor @ www.fedcomp.com
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SOURCE FedComp



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