Over the last few years, National Institutes of Health Federal Credit Union ($787 million assets; 42,749 members; Rockville, MD) has worked to adopt a more technology-forward approach to serving their vital field of membership: employees of the National Institutes of Health and also all workers in the healthcare and biomedical industries.
The need to upgrade to a modern core processor became increasingly apparent as they began this endeavor and after a nearly year-long search, NIH Federal Credit Union has selected Corelation’s KeyStone.
For NIH Federal Credit Union, the core selection process was an enterprise-wide effort with representatives from all departments and their executive leadership team. The final decision took a democratic approach, which led to a nearly unanimous vote in favor of KeyStone.
“Corelation’s focus on one product [KeyStone] and dedication to continuously enhancing that product really resonated with us,” explained NIH Federal Credit Union Executive Vice President and Chief Operating Officer Jesse Boyer. “KeyStone will allow our credit union to better serve our very important membership. We especially look forward to more efficient integrations with our digital banking and interactive teller machines.”
KeyStone’s ecosystem of ‘More in the Core’ features was a significant factor in the credit union’s decision, particularly the accounting and loan origination functionality native to the core.
“From our very first impression, what attracted us to Corelation was the opportunity to partner with an innovative, technology-focused company on a similar growth trajectory,” shared NIH Federal Credit Union Vice President, Information Technology Christopher E. Newell. “Corelation’s collaborative approach to client relationships will allow us to build a truly symbiotic partnership with our core vendor. But what ultimately sealed the deal was KeyStone’s value proposition - we found that Corelation far and away provided the best value for the investment over the long term.”
NIH Federal Credit Union is scheduled to convert in September 2022.