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Grand Forks Credit Union Selects Open Solutions’ Relational Core Data Processing Platform

08.12.2006

Grand Forks District Savings Credit Union, a community-based credit union located in Grand Forks, British Columbia, Canada, has selected Open Solutions Inc.’s® (NASDAQ:OPEN) The Complete Credit Union Solution® to handle its core data processing and member service needs. Grand Forks District Savings Credit Union is serving the citizens of British Columbia’s “Boundary Country” since 1949, it has approximately 10,000 members, assets of nearly (CAD) $200 million and offers a full range of financial services. Open Solutions is a provider of integrated enabling technologies for financial services providers across the United States, Canada and international markets.

Built on a single, centralized relational database, The Complete Credit Union Solution’s open architecture and member-centric platform are intended to help credit unions streamline both front and back office applications with an accent on improving member service.

Cathy Manson, CEO of Grand Forks District Savings Credit Union said “We are very excited about migrating to Open Solutions’ advanced technology and look forward to taking advantage of the additional functionality and flexibility it offers. Our legacy-based system has served us well for more than 10 years, but lately we find we are continually encountering barriers to growth and efficiency as a result of this aging technology. There are many things we simply can’t do because our existing banking system isn’t flexible enough to accommodate them, but we believe that they will not be issues with the expanded functionality of The Complete Credit Union Solution.”

Grand Forks District Savings’ data processing will be distributed through Open Solutions Canada’s data centre in Vancouver, continuing a service arrangement that has served the credit union well for more than 25 years. This coincides with Manson’s 30 years of leadership at Grand Forks District Savings and shows a long-time business relationship between the two companies that deepened recently with Manson’s election as the head of Open Solutions’ Canadian Client Association.

Manson continued, “The confidence we have in Open Solutions Canada’s ability to deliver and support our banking system is as important as the quality of the technology itself. We know what we’re getting with Open Solutions Canada – a well run, reliable and secure infrastructure; and readily available service and support from staff with many years of experience in the Canadian credit union industry. We wouldn’t trust our technology outsourcing to anyone else. We believe The Complete Credit Union Solution is the platform that can enable us to deliver the creative, competitive, trusted financial solutions and superior member service that define ‘the credit union experience.’ This is the technology we need to move forward as an organization, and we believe Open Solutions Canada is the partner to help us get there.”

Open Solutions Canada President Blair Goulet, said, “Member focus, financial integrity and community involvement have helped Grand Forks District Savings become one of BC’s leading credit unions, with a strong market presence and a reputation for service excellence. We are pleased the credit union is extending its long-time business relationship with Open Solutions Canada and plans to use our technology and service offering as one of the cornerstones of its continuing growth and success.”

Louis Hernandez, Jr., Open Solutions’ chairman and CEO, said, “Open Solutions is pleased that Grand Forks District Savings Credit Union has selected our advanced technology as part of its future growth strategy. At Open Solutions, we believe that no financial institution should be hampered in its growth by technology that is out-of-date or inflexible. Our open, relational platform will stand the test of time and keep financial institutions such as Grand Forks District Savings competitive and progressive.”

About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, and payment and loan origination solutions. Open Solutions’ full set of products and services allows banks, thrifts, credit unions and financial services providers in the United States and Canada to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service. You may Visit Open Solutions’ Web site at www.opensolutions.com.

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