Eastman Credit Union has selected Web hosting provider Open Solutions Inc.’s relational technology and service offering The Complete Credit Union Solution and complementary product suite to handle its enterprise-wide data processing needs.  Open Solutions is a provider of integrated enabling technologies for financial services providers across the United States, Canada and international markets.  The Kingsport, Tenn.-based credit union has 16 branches in five states, approximately 80,000 members and is the 47th largest credit union in the U.S.

Eastman Credit Union expanded its field of membership in early 2005 and is experiencing record growth.  The credit union experienced the highest percentage of member growth of all Top 100 credit unions in 2005 and consistently ranks in the Top 10 ROM (Return of the Member) scores, according to a study published by Callahan and Associates.

“We’ve been with our current vendor for almost 17 years and the system was facing a major conversion,” said Darrell Dinsmore, vice president of Information Technology at Eastman Credit Union.  “We took this opportunity to evaluate other vendors and determine the one that best matched our long-term requirements.  We selected Open Solutions because we feel they can better adapt to evolving market needs.  We believe the relational technology platform will provide better access to member information and improved third party interface capabilities.  We also like Open Solutions’ information security and business continuity offerings.”

Built on a single, centralized Oracle database, The Complete Credit Union Solution is a relational enterprise-wide data processing platform designed to meet the unique needs of credit unions of all sizes.  Its open architecture and member-centric platform is designed to help credit unions streamline both front and back office applications with a focus on improving member service.  With The Complete Credit Union Solution, credit unions can select either an in-house or outsourced processing option to support its initiatives.

“We hope to see functionality improvements in several key areas, including business services, loan servicing, financial analysis and new product flexibility,” Dinsmore said.  “All of those things should translate into offering better member service – our ultimate goal.  We are looking forward to our new partnership with Open Solutions.” 

According to Dinsmore, “Another important feature that Open Solutions offers is a real-time disaster recovery plan.  Open Solutions has the capability to have two central servers in two separate locations and write data to both of them at the same time.  If you ever lost your primary machine, the duplicated data is secure and readily available. It’s a very effective pre-emptive measure.”

In addition to The Complete Credit Union Solution, Eastman Credit Union will implement Open Solutions’ cView (business intelligence); credit card module; asset collections; ProfitVision; safe deposit box; Maxxar (telephony solutions); Interaction Management Center (IMC); and premium overdraft applications.

“We are pleased that this industry-leading credit union has seen the benefits that our open architecture platform affords and has selected Open Solutions to support its core data processing operations,” said Louis Hernandez, Jr., chairman and CEO of Open Solutions. “While we serve the needs of credit union of all sizes, we are very pleased at the continued interest larger credit unions are taking to look at their legacy infrastructure and see what benefits newer technology can offer them and their members.  More and more progressive credit unions are turning to Open Solutions to take their financial institution to the next level of growth and member service.  We are looking forward to a long, mutually beneficial partnership with Eastman Credit Union.”

Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, and payment and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States and Canada to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.