Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CUTEK assists CUs with mergers
MURRIETA, Calif. (7/5/11)--CUTEK Inc., a financial technology services provider and consultant, helps merging credit unions integrate Symitar Epysis systems. The technology consultant recently completed its second merger in four months with $317 million-asset SkyOne FCU, Hawthorne, Calif., and assisted $358 million CBC CU, Oxnard, Calif., with its recent merger. CUTEK provides a blueprint or a conversion that brought every department into the merger process, according to Jim Susha, CEO of CBC FCU. CUTEK recommended strategies for mapping, conversion and testing of Symitar data and strategies and suggested ideas for dealing with automated clearinghouse and draft files, Susha said. “They have previous experience with the Symitar merge program that was extremely beneficial,” Susha added. “CUTEK convinced us we would be in a stronger position following the Symitar path than using another vendor’s proprietary approach.” “Each merger--two with SkyOne and one with CBC--was performed with different options,” CUTEK President Ron Murray explained. “CBC was mostly consulting in a ‘how-to’ role. SkyOne’s first merger was a full-service merge where we did analysis crossovers and programming. In SkyOne’s second merger, they took what they learned from us in their first merger and did their own analysis and crossovers, while we provided programming and support.”


RSS print
News Now LiveWire
Next Item #NCUABdMtg, First Service FCU FOM change to community charter, aim to increase #financialed, membership growth @theNCUA
3 minutes ago
Tech. amndmts, incl. a Dodd-Frank tweak, changes to central office/regional structures, renaming small amount loans, approved by @TheNCUA .
6 minutes ago
.@TheNCUA Associate General Counsel Frank Kressman making first staff presentation @ open meeting--technical amndmts he calls "housekeeping"
9 minutes ago
RT @CUNA: @TheNCUA September #NCUABdMtg getting started. http://t.co/rjnt7UOWIr
12 minutes ago
With CU leagues & CUs in town for advocacy visits with policymakers, the board room is packed today at NCUA open meeting.
12 minutes ago