Los Angeles Firemen’s Credit Union Selects Open Solutions’ DNA Core Data Processing Platform

GLASTONBURY, Conn.--(BUSINESS WIRE)--Los Angeles Firemen’s Credit Union (LAFCU), based in Los Angeles, Calif., recently selected Open Solutions Inc.’s® latest version of its popular relational core data processing platform -- The Complete Credit Union Solution®: DNA to efficiently address its enterprise-wide data processing needs. Open Solutions Inc. is a leading provider of integrated enabling technologies for financial institutions in the United States, Canada and other international markets.

With more than $800 million in assets, LAFCU has more than 26,000 member accounts and serves professional firefighters and their families throughout the state of California. The credit union cited Open Solutions’ flexible, open architecture as a key factor in selecting the solution.

“Open Solutions’ platform was simply the best fit because of its ability to support our on-going efforts in providing tailored services to our members,” said George Kings, VP, Information Systems for LAFCU. “Additionally, TCCUS: DNA will give us the flexibility to not only support us now, but in the future.”

Built on a powerful Oracle® relational database, The Complete Credit Union Solution’s open architecture and member-centric platform is designed to help credit unions streamline both the front- and back-office applications with a strong focus on member service. The Open Solutions core platform offers credit unions a centralized relationship-based view of its specific relationships with members, employees and business partners.

During the two-year vendor selection process, LAFCU’s entire institution participated in the final decision. “The decision was organizationally-driven. We work as a team, and we wanted everyone involved to ensure we made the best decision possible for our institution and for our members,” said Kings.

In addition to The Complete Credit Union Solution: DNA data processing platform, LAFCU will also implement Open Solutions’ full cView™ CRM suite, the Financial Accounting Suite, the loan origination system and telephone/VRU.

According to Mike Mastro, president/CEO for LAFCU, “By partnering with Open Solutions, we expect to expand our member services. We have an immense respect for the firefighters of California and regard them as friends and family. Open Solutions’ flexible, adaptable platform corresponds with our innovative efforts to enhance our members’ financial lives, and we are excited to work with Open Solutions moving forward.”

“LA Firemen’s Credit Union provides a broad and unique range of services to enhance the quality of firefighters’ financial lives,” said Louis Hernandez, Jr., Open Solutions chairman and CEO. “Their dedication and commitment to serve these men and women across the state of California is commendable, and we are pleased to work with such an institution. LAFCU is focused on utilizing technology and its people to drive down costs, develop new sources of income and to generate additional business. With our open platform, LAFCU can better support its members’ financial needs, and we look forward to helping them expand their services and continue to offer exceptional products.”

About Open Solutions Inc.

Open Solutions Inc. offers a fully-featured strategic information management 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 and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers throughout the world 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.

Open Solutions Inc. and The Complete Credit Union Solution are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2008 Open Solutions Inc. All rights reserved.

Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.