Cooperative Banking / Credit Unions

Credit unions and financial cooperatives contribute significantly to ensuring access to affordable financial services, access that is especially critical given the current economic crisis. Credit unions often provide savings, credit and related financial services to communities that otherwise may not have access due to geographical, cultural or financial challenges facing individuals.

In comparison to other financial institutions, credit unions and cooperative banks have performed exceptionally well during the current economic crisis notwithstanding the problems that have occurred. This is due in part to their commitment to member service rather than short-term profit maximization.

On the other hand, most Core Banking solutions available in the market cater to the needs of traditional banks and cooperatives need rather specific levels of customization. In addition,  in many regions of the world, there are basic issues like power and rugged terrain that make it difficult to run a Core Banking System 24x7. In this reality and while technology is evolving, Cooperatives are slowly realizing that their customers are more technologically adapt and demand to adopt modern banking practices.

INTRASOFT International’s PROFITS Core Banking System helps Cooperative Banks and Credit Unions globally to effectively achieve their goals. With a cetralised PROFITS implementation, Cooperative Banks can maintain Member Shares centrally while allowing their customers to perform online transactions throughout the Cooperative/Credit Union Network.