Why We're Doing It

In October 2024, following Central 1’s announcement to wind down its digital banking business, concerned representatives from credit unions and system organizations – Community Based Credit Unions Future Committee (CFC), National Consulting Limited (NCL), and Stabilization Central Credit Union – came together as a group to discuss its impacts and brainstorm on ways we might work together to overcome this challenge. Given the significant effort required to evaluate, select, negotiate, migrate and manage these services, attendees at this session recognized the potential to pool resources and expertise to drive efficiencies and realize buying power across the system.

With a collective reach that includes credit unions, system partners, and technology vendors across the country, our organizations struck a collaboration to explore how we could take advantage of our individual strengths to support credit unions through a digital banking transition. This group of interested parties aims to leverage shared expertise, streamline project management, and optimize resource allocation for a more efficient and effective evaluation process.

If your credit union is interested in exploring whether this working group is a fit for you, please contact Jeff Eastman from the CFC at secretariat@cbcucollaboration.com with any inquiries or to connect you with credit union leadership currently involved in this initiative.

Additionally, working groups managing different streams of this exercise will be comprised of relevant expertise and diverse perspectives to ensure needs of participating credit unions are represented. If there are people within your organization with skills or experience relevant to the vendor selection and migration exercise, please submit their names and qualifications for consideration to Jeff Eastman at the email above.