A core technology platform, fueled with Real-Time

Onomea Federal Credit Union and VisiFI 

 

About Onomea Federal Credit Union (OFCU)

Onomea Federal Credit Union (OFCU) has been proudly serving the Big Island of Hawaii residents since 1939. Originally serving the plantation workers of the Onomea Sugar Company, we have slowly expanded our field of membership to serve all of Hawaii County. Our sunrise logo provides a double meaning, signifying stability and tradition. A metaphor for its warm, friendly service, as well as a symbol that the future is bright and the Credit Union’s best days are ahead. Keeping up with technology, the demands of member needs, and maintaining expenses has always been a challenge, especially as a small Credit Union, but we continue to evolve to ensure our members are receiving the services they’ve always wanted from the same small Credit Union they’ve always loved.

The context
Changing gear, preparing for the future 

In 2016, Onomea Federal Credit Union started to think about how to improve the variety and the level of services offered to their members. There was a need to ensure updated services, a need for an up-to-date core technology with new functionalities, such as enhanced online banking solutions, e-statements, a debit card-related program, just to name a few.  

The answer was VisiFI and its core technology platform fueled with Real-Time General Ledger (RTGL). Existing members benefited by immediately taking advantage of the new and enhanced services. RTGL ensured that Onomea Federal Credit Union could leverage a cutting-edge solution to have instant access to data. On top of everything, the Credit Union data processing expenses, after all the new enhanced programs were added, were lower than on the previous no-nothing core system. 

The solution
Expanded services, real-time data

Through the implementation of the VisiFI core technology platform, Onomea Federal Credit Union is now able to have an expanded set of services, spanning from online and mobile solutions to card programs, to offer their members. This capability ensured the Credit Union a viable way to prevent the loss of members and to additionally expand the membership itself.

The major benefit connected to this project is the members’ services level. Onomea Federal Credit Union is now ready to satisfy their needs quickly and with the variety of solutions their members deserve. Together with the core technology platform, VisiFI worked to implement the Real-Time General Ledger, its unique solution that enables Credit Unions to capture transaction data and view it immediately.  

About Real-Time General Ledger

“Well, I can’t imagine not having it. RTGL is an astonishing solution that enables us to verify all the data instantly, across the different operations of our organization, and right at our fingertips”, says David Morgan, Chief Executive Officer, Onomea Federal Credit Union.  

One of the main benefits of the RTGL is the dashboard. It has a simple, user-friendly view of data that ensures instant access to updated information by simply clicking a button. This results in a better way to manage the back-office and accounting operations, as well as having instant access to crucial information, with no delay 24/7. 

About the project

“From a project management standpoint, the onboarding went smoothly. Onomea Federal Credit Union and VisiFi started to assess the scope of the core onboarding in June 2016. The project officially kicked off in September 2016 and the onboarding was completed in March 2017. Throughout the transition, the implementation team granted a high level of service and was willing to listen to suggestions and improve the project as it went along”, David Morgan, Chief Executive Officer, Onomea Federal Credit Union

Project's takeaways

  • Core Technology Platform: A brand-new solution to serve future members needs. 

  • Fast and Smooth Onboarding: Process and implementation managed smoothly and efficiently. 

  • Real-Time Data: H24 information to be accessed instantly. 

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