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Successful dress rehearsal for ELCU


15 Aug 16

East London Credit Union has had a successful “dress rehearsal” as it prepares to adopt the Cornerstone Model CU.

The Cornerstone Model CU, which has been developed as a key part of the UK Government’s Credit Union Expansion Project (CUEP), co-ordinates a range of facilities together and introduces new ways of working and consistent practices which represent a real transformation for the credit union sector.

East London CU will be the first existing credit union to fully go live on the Cornerstone Model CU, with a further 34 credit unions lined up to migrate over subsequent months.

Credit unions will each individually migrate to the Model CU, with dedicated Cornerstone Mutual Services relationship support and head office experts working on a process which can take up to 20 weeks. This combination of people and planning is designed to ensure the smoothest possible transition.

The full “dress rehearsal” ensures any unique issues are identified and rectified, followed by a system cleardown to “tidy up” the credit union’s technical environment in readiness for migration, ensuring all the necessary components are present and correctly configured.

The first dress rehearsal at East London Credit Union went very well, giving everyone significant confidence for their imminent live implementation, as well as providing lots of opportunities to learn for the benefit both of East London Credit Union and the next 34 credit unions.

ABCUL Chief Executive Mark Lyonette said: “This successful dress rehearsal is one more step on the way to a culmination of more than 2 years' hard work defining a set of requirements, designing and configuring the system, building the environments and installing the local software and technical infrastructure before testing it to the point where it can be delivered and supported by the Cornerstone Operations team.”

“We’re very grateful to Michelle Howlin and all the team at East London Credit Union for the hours and the work they’ve put in to helping us get the Cornerstone Model CU ready to go live.”

“The Cornerstone Model CU represents a real transformation in how credit unions operate and the range and quality of services they provide for their members, and we are excited to see the first credit unions preparing to go live.”

East London Credit Union Chair Matthew Redgrave said: “Working with CUEP means we can help more of East London bank locally by widening the scope of the lending and saving products we can offer. We'll also be able to improve the service we provide to our existing members, and take credit union banking into the 21st century."

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