PATELCO CREDIT UNION
We speak to Kevin Landel , SVP of Innovation and Payments Strategy at Patelco Credit Union , to discuss how collaboration between business and technology teams is the key to creating a culture of innovation
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A not-for-profit organisation , Patelco Credit Union ’ s focus is on community . Started in 1939 , it was originally the Pacific Telephone Company ’ s credit union , where employees could collect deposits and fund loans . Rooted in that cooperative nature , Patelco has grown to a US $ 7bn company with more than 350,000 members . Landel says , “ we truly believe we ’ re here to help our members ”. Patelco has multiple community outreach and support programmes , from connections to the Children ’ s Miracle Network to its loan programme that offers an upfront 0 % interest $ 500 cash loan to disaster-stricken customers .
Kevin Landel started at Patelco six years ago as Chief Information Officer . “ At the time ,” he says , “ virtually all of our technology was home grown .” While this has the upside of flexibility , it meant the company was spending most of its resources on support rather than strategic building . Landel shifted to a platform strategy , sourcing out Patelco ’ s technology . CU Direct took on its loan origination system ; Alkami made its system for online banking .
OCTOBER 2019