BECU Employs Open Solutions Inc.
Core Processing Product and Personnel to Help Complete Largest
Technology Conversion in Credit Union History
--Flawlessly replacing a 20 year-old legacy system in one
GLASTONBURY, Conn. March 16, 2003 - Boeing Employees' Credit
the largest financial cooperative in Washington State and
the third largest
credit union in the nation, announced the successful implementation
Solutions Inc.'s (OSI) The Complete Credit Union Solution(tm)
handle the institution's retail transactions, consumer loan
servicing and integration strategy. BECU, with more than $4 billion in
the largest technology conversion in credit union history.
"Open Solutions' personnel proved invaluable in helping
conversion happen with minimal effect on operations and
said Butch Leonardson, Vice President of Information Technology
"Open Solutions was at the top of our list of vendors
to replace our
transaction system. The openness of their technology was
in line with our
integration strategy. The commitment of their staff to the
success of this
project was exemplary; they were truly our partners in this
"We leave nothing to chance when it comes to our client
and operations proficiency," said Andrew Bennett, Senior
Vice President of
Operations. "Some members of our conversion team took
their families with
them to Seattle for the summer while we tested the BECU
data and conversion
strategy. Our combined team of BECU employees and Open Solutions'
personnel was completely confident that when we flipped
the switch, everything would
work as planned."
Over the Veterans Day holiday in November 2002, the credit
union went live
with an entire new technology framework, replacing a 20-year-old
transaction system and a number of other applications that
had been grafted
on the mainframe platform. In addition to Open Solutions'
installed a total of seven software applications during
process, garnering the institution a "Best System Conversion
Of The Year"
award from Cornerstone Advisors Inc., a banking and credit
According to Leonardson, Open Solutions' open architecture
platform and software partnerships were key to the institution's
global IT strategy. "Embedded within Open Solutions'
enterprise core data
processing application, The Complete Credit Union Solution,
is a powerful
integration engine. This technology enables BECU to quickly
applications without having to build multiple interfaces.
We can offer new
products and services to our members without any integration
regarding effects to other applications. Open Solutions
systems technology; that means more options for financial
Other standout features of the relational core data processing
include on-line signature and picture verification of members,
deposit and lending system, business functionality, fully
storage for reports and forms, and the power to customize
the system to
create new products or update older ones.
"Open Solutions is proud to have played such an integral
role in a
conversion of this magnitude," said Louis Hernandez,
Jr., Chairman and CEO
of Open Solutions Inc. "BECU is one of the most progressive
financial institutions in the industry. We value our relationship
technology partner and ally in achieving their strategic
goals for their
institution, as well as their members. Open Solutions has
spent the past
ten years developing and compiling the best solutions and
in the marketplace, and our mission for all of our client
institutions is to
offer enabling technologies that surpass their expectations
and needs well
into the future."
About Boeing Employees Credit Union
Founded in 1935 as the Fellowship Credit Union and renamed
in 1949, Boeing
Employees Credit Union is the largest financial cooperative
in the state of
Washington and the third largest credit union in the United
serves close to 323,000 members worldwide and has assets
of over $4 billion.
For more information about Boeing Employees Credit Union,
Butch Leonardson at 206.439.5976, write 12770 Gateway Drive,
98168, or email firstname.lastname@example.org. Visit the company's
Web site at
About Open Solutions
Open Solutions Inc. (OSI) offers a fully featured strategic
that integrates core data processing applications, built
on a single
centralized Oracle(r) relational database, with Internet
management, electronic commerce, CRM/business intelligence,
accounting tools, imaging and loan origination solutions.
OSI's full suite
of products and services allows banks, savings institutions
unions to better compete in today's aggressive financial
marketplace, expand and tap their trusted financial relationships,
affinity, community presence and personalized service.
For more information about Open Solutions, or its financial
contact Mickey Goldwasser at 860.652.3153, via fax at 860.652.3156,
email@example.com. Visit OSI's Internet site