VP Credit Union (VPCU) Signs Agreement to Convert to Smart Solution's Universa Core Banking Platform

Smart Solution, a leading provider of financial management solutions, announced recently the successful signing of a binding Agreement to convert VP Credit Union Ltd., from its current banking system to Smart Solution's Universa Premier Core Banking System. Universa is a state-of-the-art, browser- based banking platform, written from the ground up, using the latest industry standard technologies. Since 2011, Smart Solution has completed ten successful conversions to its Universa platform and already has signed commitments for further conversions in 2014 and 2015. Once the installation at VPCU goes “live”, it will mark another Universa platform installation for Smart Solution's in the province of British Columbia, an area where Smart Solution currently services several other clients.

“We are delighted to have made the decision to upgrade to the new Universa banking platform. After a careful and detailed analysis of competing products from at least 3 other vendors, the Universa platform from Smart Solution was the clear winner due to its state of the art technology, industry expertise, and proven track record” said Mr. Larry Hill, General Manager, VPCU. He stated further that the staff and management of the Credit Union are excited about the enhanced capabilities of the new banking system. “We are confident that the Universa banking platform will enhance the Credit Union’s competitiveness and enable the organization to meet the challenges of an ever-changing financial services marketplace,” added Mr. Hill.

It all began December 15, 1944 when two Credit Union League representatives were invited to the Vancouver Police Department to explain the requirements necessary to establish a Police Credit Union. As the meeting approached only four members had shown up. In order to have the required number of members present, a patrol wagon was dispatched to round up six more members from the beats near the station and bring them to the meeting. With ten members, having put up $1.00 each, the V.P. Credit Union was formed. From these humble beginnings, the VPCU now serves all members of the law enforcement community in the province of British Columbia. Today, the VPCU has over 3000 members and manages $130 million dollars in assets. Their motto is “Serving those who Protect”.

“We were pleased and excited when the VPCU chose to convert from their existing banking system to our Universa platform to support the credit union’s focus on customer service over the coming years,” said Iean Tait, President and CEO, Smart Solution. “With VPCU agreeing to join our ever growing Universa client list, we are confident in inviting any financial institution looking to upgrade to a modern, flexible and robust core banking platform at a competitive price, to join our team.”

For more than 37 years, Smart Solution and its group of companies has provided innovative core banking systems and financial management solutions to financial institutions worldwide. Smart Solution supports a client base of more than 60 financial institutions, including some of the top Canadian and Caribbean Credit Unions.