Boeing Employees' Credit Union Selects Open Solutions' Lending Processing Technology.

Business Editors

TUKWILA, Wash.--(BUSINESS WIRE)--Sept. 11, 2001

Boeing Employees' Credit Union (BECU), the largest financial cooperative in Washington State and the third largest credit union in the nation, announced its selection of Open Solutions Inc.'s (OSI) lending transaction processing solution to manage all loan servicing for its lending department.

"BECU had outgrown its old legacy system - customizing it to the point that it was impossible to maintain," said Gary Fee, director of Consumer Lending for BECU. "Open Solutions offered us a consumer loan processing system with a completely open architecture. That was important to us because our loan volume dictates that our lending processing system be accessible from multiple member access channels, like the Internet and Interactive Voice Response (IVR) solutions, while being extremely flexible. The Open Solutions product allows us to move very quickly in adding to and manipulating our loan systems."

According to BECU officials, its lending staff will benefit greatly from the Open Solutions lending product because the system eliminates cumbersome, manual processes and streamlines its lending processes. The staff will no longer have to work around the older legacy system and manage by green-bar reports when tracking member data. Any one of BECU's more than 290,000 members will be able to access much of their loan information directly from any of the credit union's access channels.

BECU chose OSI's lending solutions product because the product has a stable open computing platform, which allows the credit union to connect different modules and solutions into the system without difficulty. Open Solutions' lending management product is an easy-to-use, total lending management solution for community banks and credit unions. Its flexible loan automation system mirrors a credit unions own lending procedures and improves the speed and accuracy of processing.

"It's a great honor to be selected by an industry leading credit union like BECU," said Louis Hernandez, Jr., Chairman and CEO of Open Solutions Inc., "and a testament to the power and innovation of Open Solutions' suite of enabling technologies. Our lending processing solutions are second to none. We are focusing on our client institution's communication, tracking and reporting needs by offering a powerful open servicing platform and a suite of modules designed to meet all our client's consumer loan servicing needs today and as their operations grow. We look forward to a long relationship with them."

About Boeing Employees Credit Union

Founded in 1935 as the Fellowship Credit Union and renamed in 1949, Boeing Employees Credit Union is the largest financial cooperative in the state of Washington and the third largest credit union in the United States. It serves more than 290,000 members worldwide and has assets of more than $3 billion.

For more information about Boeing Employees Credit Union, contact Gary Fee at 206.439.5862, write 12770 Gateway Drive, Tukwila, WA 98168, or email [e-mail]. Visit the company's Web site at www.becu.org.

About Open Solutions

Open Solutions Inc. offers the Open Community Network (OCN), a fully featured strategic product platform that integrates enterprise core data processing applications with Internet banking, lending management and electronic commerce solutions. OSI's full suite of products and services allows banks and credit unions to better compete in today's aggressive financial services marketplace and tap their trusted financial relationships, customer affinity, community presence and personalized service.

Open Solutions' combination of enterprise processing applications, lending management, electronic commerce, cash management and Internet banking solutions enables community banks and credit unions to leverage technology to expand their customer relationships and capture more of the dollars in their market.

For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser at 860.652.3153, via fax at 860.652.3156, or email [e-mail]. Visit OSI's Internet site at www.opensolutions.com.