Highest Rated Core Processors for Credit Unions with Between $250–500M

Learn which credit union core processors are the highest rated by CUCollaborate users for institutions with between $250–500 million in assets.

Selecting a credit union core processor is one of the most important decisions any institution faces. The choice of a back-end technology system impacts a credit union’s entire operation, from its current ability to facilitate financial interactions to shaping its future trajectory.

To aid in this decision-making process, CUCollaborate has compiled a proprietary database (VendorFi) available to subscribers on all credit union core processor systems and their clients throughout the industry. VendorFI tracks which systems are the most-implemented by credit unions across different asset classes and collects reviews highlighting the strengths and weaknesses of each core.

In this article, we will examine mid-size credit unions and look specifically at which core processors are the highest rated according to CUCollaborate users within the $250–$500 million asset range.

(Note: for these rankings, a core processor must have at least five credit union clients within the asset class to qualify)

1) CUProdigy (Rating within asset range: 5.44/6)

The CUProdigy core processor is one of the lesser-implemented systems across the credit union industry, with only 19 clients overall. The majority of these clients (six) fall within the $250–500 million size range and together they have rated the core best overall for the asset class. Overall, the core system serves credit unions ranging in size from as large as $541.4 million to as small as $7.2 million in assets.

Additional data:

The average assets of the six credit unions using the CUProdigy core processor within this size range is $334.4 million.

The average asset holding for all 19 credit unions using the core is $176.7 million, while the average membership of these institutions is 12,580.

Strengths:

The CUProdigy core processor was rated particularly well for its research and development capabilities, along with the availability of third party integrations and willingness to work with third parties.

2) Corelation Inc. - KeyStone (Rating within asset range: 4.94/6)

The KeyStone core processor from Correlation has 79 clients across the credit union industry ranging from as large as $8.2 billion in assets to as low as $3.5 million, with essentially a quarter (20) of these belonging to the $250-500 million group.

Additional data:

The average assets of the 20 credit unions using the KeyStone core processor within this size range is $354.1 million.

The average asset holding for all 79 clients using the core is $710.5 million, and the average membership of these credit unions is 47,734.

Strengths:

The KeyStone core processor scored highly for its native application integration, the interoperability of third party integrations and willingness to work with third parties.

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3) Jack Henry™ – Symitar® (Rating within asset range: 4.85/6)

The Symitar core processor serves by far the most credit unions within the $250–500 million range, with 96 of its 493 clients belonging to the asset class. Overall, the core serves institutions ranging from as large as $27 billion to as small as $3.3 million in assets.

Additional data:

The average assets of the 96 credit unions using the Symitar core processor within this asset class is $367.3 million.

The average asset holding for all 493 clients using the system is $1.3 billion, and the average membership of these credit unions is 76,798.

Strengths:

User reviews noted the availability and interoperability of third party integrations, as well as the willingness to work with third parties as overall positives of the Symitar core processor.

4) Fiserv - DataSafe (Rating within asset range: 4.83/6)

The DataSafe core processor from Fiserv is used by 22 credit unions within the $250–500 million range and by a total of 149 across the entire industry. Altogether, these clients range from as large as $18.3 billion to as small as $2.2 million in assets.

Additional data:

The average assets of the 22 credit unions using the DataSafe core processor within this size range is $375.9 million.

The average asset size of all 149 credit unions using the core is $615.4 million; the average membership of these credit unions is 39,278.

Strengths:

The DataSafe core processor was rated slightly above-average by users for its disaster recovery and business continuity capabilities.

5) Fiserv - Portico (Rating within asset range: 4.53/6)

Another Fiserv system, the Portico core processor, rounds out the top five within the asset class. The system is used by 27 clients in the $250–500 million range and 322 credit unions overall. The core's largest credit union client has $3.8 billion in assets, while the smallest has $611.1K.

Additional data:

The average asset holdings of the 27 credit unions using the Portico core processor within this size range is $321.8 million.

The average asset size of all 322 credit unions using the core is $131.3 million, and the average membership of these credit unions is 9,537.

Strengths:

The Portico core processor's architecture, reporting and information management, and support services were all noted by users as slightly above-average.

The Selection Process

Selecting a new core data processor is one of the most important decisions facing a credit union. The right choice can bring major benefits, however it can also be complicated and time-consuming.

At CUCollaborate, we collect and provide both quantitative and qualitative data to help you through this process.

Contact us today to learn about our Core Data Processor Evaluation and Consulting Services, or click below to meet directly with our Managing Director and technology expert for an assessment for your credit union.