CUB News

  



KeyStone transforms the credit union experience at Sandia Laboratory Federal Credit Union
 
SAN DIEGO - December 13, 2018:  After 18 months of collaborative planning sessions, testing, and training, Sandia Laboratory Federal Credit Union ($2.5B assets; 99,000 members; Albuquerque, NM) went live on the KeyStone platform on Tuesday, November 13, 2018. It had been 40 years since the credit union experienced a core processor change, and for many personnel, this was their first conversion experience.
 
"Many braced themselves for the horror stories they had heard about conversion and 'first day live', but to their pleasant surprise, conversion weekend was much smoother than they had expected," remarked SLFCU SVP Chief Operations Officer, Rick Anderson. "We're now three weeks post-conversion, and we're still mostly unscathed," he added. Anderson attributed the success of this conversion to the dedication, depth of knowledge, and transparency each organization demonstrated throughout the project.
 
Another highly anticipated 'first' came to fruition - the first time credit union personnel were able to access consumer and commercial profiles in one system. They were previously housed in two different platforms, preventing employees from understanding the full relationship a person had with SLFCU.
 
And with a substantial commercial portfolio, SLFCU had been instrumental in the development of KeyStone's commercial loan servicing functionality.
 
SLFCU President/CEO Robert Chavez added, "Because KeyStone was not a natively commercial platform, Corelation has worked closely with us to flesh out and define our needs to support our commercial banking services. We value this partnership and look forward to being a part of the continued development. Additionally, we have a long history of in-house technology and KeyStone has the best ability to preserve our need for customization resulting in enhanced member experiences."
 
"We hold our credit union partners in the highest regard and always appreciate their input in our development efforts. With their partnership, KeyStone remains state-of-the-art, comprehensive, and efficient," acknowledged Corelation President and CEO Theresa Benavidez.
 
About Corelation, Inc.
Based in San Diego, CA, Corelation is the innovative core processor for today's credit union. This solution is a member-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. In terms of industry experience, Corelation's staff has dedicated their careers to creating core systems and providing unparalleled client service. For more information, visit  www.corelationinc.com .
 
About Sandia Laboratory Federal Credit Union
Sandia Laboratory Federal Credit Union is New Mexico's largest credit union by asset size, and serves more than 99,000 members with ten branches in the Albuquerque, New Mexico area and two in Livermore, California. SLFCU currently holds $2.5 billion in assets and is consistently ranked among the top credit unions for total financial return to members by Callahan and Associates, Washington, D.C. (creditunions.com). Formed in 1948 by employees of Sandia National Laboratories, the field of membership served by SLFCU now includes a number of companies in New Mexico and California. Employees of those companies and their family members use SLFCU for financial services that include checking, savings, home mortgages, auto loans, credit and check cards, and investment services. Members enjoy a nationwide, surcharge-free ATM system and free online account services. The Credit Union is federally insured by the National Credit Union Administration (NCUA) and is an Equal Housing Lender.