FORUM Credit Union: Pioneering Online Banking

We welcomed CEO, Doug True and CTO, Cameron Piercefield with FORUM Credit Union. FORUM has a long history of embracing technology to better serve its members, from being an early online banking pioneer to developing in-house software solutions. Their member-centric approach and cooperative philosophy have been key drivers, involving members in the design process and sharing innovations with other credit unions. Through partnerships, FORUM continues to enhance its offerings to best serve their members. In this episode we discuss many aspects of FORUM’s journey with a few key points:

1. FORUM Credit Union was an early adopter of online banking, offering it in the mid-1990s via floppy disks and modems.
2. They developed their own online banking platform in-house after their initial vendor went bankrupt, leveraging their experience building a loan origination system.
3. FORUM took a member-centric approach, involving members in the design process through storyboarding sessions and pilot groups.
4. They embraced a cooperative philosophy, sharing their lending software with other credit unions to improve the product.
5. They successfully migrated from a 40+ year old system over a three year long project.