SAN DIEGO (5/19/14)--Three New Jersey credit unions have pooled their resources to form a credit union service organization and sign with core processor Corelation.
Aspire FCU, Clark, N.J., with $183 million in assets; Credit Union of New Jersey, Ewing, N.J., with $333 million in assets; and United Teletech Financial FCU, Tinton Falls, N.J., with $323 million in assets, will convert to Corelation's KeyStone core in 2015 and will run on a single IBM box located at the data center of Corelation's partner, Wescom Resources Group.
The new CUSO is named Member Support Services.
"The Member Support Services CUSO exemplifies the credit union movement as a cooperative effort that looks beyond their own needs," said Corelation President Theresa Benavidez.
MSS LLC is intended to create operational efficiencies in core processing, telecom and call center services, purchasing and contracting and other areas, the credit unions said.
Launched in 2009, Corelation now has 25 credit unions signed and 13 live on its system, the company said.