A Small Utah Credit Union Converts Core Systems to Prime Growth

KingsPeakCUIn 2016 CEO of Kings Peak Credit Union, Ron Wood, looked at his COO Ryan Reynolds, and asked, “Should we be looking for other jobs?” At the time the credit union’s board of directors was placing downward pressure on Wood and Reynolds for negative efficiency metrics and growth. Wood later explained, “We arrived at a point where we had to do something or we weren't going to be around anymore”. With the credit union’s current core processing system and its inherent limitations, Wood knew he needed to make a change.

In 2017, Kings Peak Credit Union converted its core system to the Salt Lake City-based core processor, FLEX. The credit union has since grown 33% in assets and experienced increased efficiencies in many areas of its daily operations. Wood shared, “We also decreased our expenses by 2% in 2017 and that’s quite impressive because we have added many additional services such as the mobile banking app, bill pay, eSignatures with DocuSign, and much more.” While many things can be said about Kings Peak, their new efficiencies, and added member services, Reynolds summed it all up by simply stating, “FLEX made us relevant again.”

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