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Client StoryHoboken SchoolEmployees FederalCredit Union
Hoboken School Employees Federal Credit UnionOpen, Two-Way Communication Enables FullyVirtual Core Conversion During PandemicWhen Hoboken School Employees FederalCredit Union decided to convert to the Porticoaccount processing system from Fiserv, noteven a global pandemic could stop it. Client Profile ChallengeHoboken School Employees Federal Credit Unionwas scheduled to convert from an in-house accountprocessing system to Portico in April 2020. But theCOVID-19 pandemic and the resulting shelter-in-placemandates sent Fiserv and credit union employees home. SolutionHoboken School Employees Federal CreditUnion in Hoboken, NJ, is an “old school”credit union – the kind where employeesrecognize members’ voices when they call.It was founded in 1937 and serves a narrowmember base: Hoboken Board of Educationemployees, Hoboken Elks Lodge #74 membersand Hoboken Parking Authority employees.The 60 million credit union has about1,800 members and offers a variety of loansand other services, including first mortgages,which are never sold to the secondary market.Credit union CEO Bill Slootmaker resolved to moveforward despite the complications brought on bythe pandemic. Fiserv and the credit union workedhand- in- hand to convert the core virtually. Proof Points T he credit union had access to constant supportthrough an ongoing virtual meeting B ecause team members weren’t traveling, allFiserv experts on the project were availablesimultaneously, providing instant answers tomost questions F ace-to-face training was transitioned to elearning,which provided for more one-on-one interaction
Hoboken School Employees Federal Credit UnionHoboken School Employees Federal Credit Unionis small but mighty. Located in the one-square-mileHoboken, NJ, the credit union has 60 million in assetsto serve not quite 1,800 members, and only threeemployees handle it all.For years the credit union successfully ran on anin-house core thanks to the previous operationsmanager, who was technologically skilled and enjoyeddoing backups and bringing the system up and down.When the operations manager retired in 2017, CEOBill Slootmaker knew he needed a system that wasmore hands-off. Portico was the answer.Built for an online environment using Microsoft .NET,Portico is composed of intuitive Windows-style screenswith single-click access to a full range of applications.Service-oriented architecture simplifies integration,enabling efficient and faster implementation of newproducts and ensuring quicker availability.“We saw the things it could do, and how it is allintegrated really made it attractive for us,” Slootmakersaid. “We were functioning in a world where we couldget our information from the core but had to go toanother site for this and another site for that. It’s nice toget into Portico and everything is there – to have all theparts of our business talking to each other.”Furthermore, Portico makes it easier for the credit unionto offer the digital services more and more consumersare demanding.“The younger generation of teachers don’t want tohave to come to a brick-and-mortar branch. A lot of ourmembership trends to older, but we want to have theyounger staff who are coming on have a reason to useus because we have great rates and great products, butwe also have the electronic services. We think Porticowill enable us to do that,” Slootmaker said.“The kinds of things Portico can do for us andthe way things are integrated will position us wellgoing forward.”Forging a New PathThe credit union was scheduled for an early April 2020conversion, but no one could have predicted howdrastically daily life would be impacted by COVID-19.As many workers around the country – including creditunion employees – were transitioning to working fromhome, Hoboken School Employees Federal CreditUnion faced a major decision: postpone the conversionwith no clear indication of when things would be backto normal or forge ahead with a virtual conversion thatneither Fiserv nor the credit union had done before.Slootmaker decided to be bold.To make it work, Fiserv would have to think differently,said Doug Donofrio, vice president and general manager,Professional Services, Credit Union Solutions, Fiserv.“We knew how important it was to get comfortablewith the process before we attempted it with a clientand we knew it wouldn’t be easy,” he said.“We’d haveto look at everything with a different perspective.”We wanted to make sure the creditunion knew we were right there withthem every step of the way, to give themsome peace of mind that even thoughwe weren’t physically there, we werestill there to support them through theentire process.”Doug DonofrioVice President and General Manager,Professional Services, Credit Union Solutions, Fiserv
Hoboken School Employees Federal Credit UnionWe were functioning in a world wherewe could get our information from thecore but had to go to another site for thisand another site for that. It’s nice to getinto Portico and everything is there – tohave all the parts of our business talkingto each other.”Bill SlootmakerCEOHoboken School Employees Federal Credit UnionThinking DifferentlyBeyond setting up, configuring and connectinghardware, the implementation team had to rethink howto deliver training, provide go-live support and more.Fiserv staff needed to be available around the clock, sothe team set up an ongoing virtual meeting that gavethe credit union immediate access to Fiserv experts.“To make sure Bill and his team were comfortable doingwhat they needed to do on their end, like configuringand testing, we used every tool at our disposal,”said Donofrio. “We wanted to make sure the creditunion knew we were right there with them every stepof the way, to give them some peace of mind that eventhough we weren’t physically there, we were still thereto support them through the entire process.”In addition to the ongoing virtual meeting, the Fiservproject manager helped find quick answers whenquestions arose.“He did a great job at managing the big team of Fiservpeople from the various departments,” Slootmakersaid. “That was instrumental in having the conversionbe successful. I couldn’t have done it without him,especially with a small staff.”One benefit of implementing Portico during thepandemic shelter-in-place mandates was that there wasmuch less lobby traffic, which enabled the small creditunion staff to focus more on the conversion.“The first couple of days when we were in the middleof the conversion and members were calling, that wasstressful,” Slootmaker said.“I had a lot of fear. But looking back, we got through it.If we can do it, anybody can do it.”
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Hoboken School Employees Federal Credit Union in Hoboken, NJ, is an "old school" credit union - the kind where employees recognize members' voices when they call. It was founded in 1937 and serves a narrow member base: Hoboken Board of Education employees, Hoboken Elks Lodge #74 members and Hoboken Parking Authority employees.
