ACU Credit Union with Alchemy

The Algemene Spaar- en Kredietcoöperatie ACU (General Credit Union) recently celebrated it’s 45 years of existence and therefore unveiled, as part of it’s strategic vision to improve its overall services to it’s members, a plan to re-organize and update its internal support systems.

The ACU was founded 45 years ago to bring excellent financial services and access to capital within the reach of ordinary workers. As a result of their success in this mission, the ACU has now grown to serve more than 12,000 public and private sector workers across Curacao, Bonaire, St. Maarten, Saba and St. Eustatius. ACU makes it possible for it’s members to build up personal wealth and save for items such a home, pension or their children’s education.

Up till now, the ACU ran a traditional paper-based and manual back-office operation from its headquarters in Willemstad. This resulted in unnecessary lengthy and time-consuming amount of transaction processing times by ACU staff. Customers were also required to call ACU for service, or come in and wait in line for service.

“The executive team of ACU has developed a dynamic and visionary plan to provide new state of the art services for her growing customer base. These include sophisticated Internet banking and express domestic and internal transfers.” said Mr. Eldrid Fos, Operations Manager of ACU. “After a careful review we are delighted to find that IBIS Management based right here in Curacao is the number one provider of banking technology and advisory services in the Caribbean. So, it was a natural choice to choose their Alchemy Platform to implement our new strategy.”

ACU is also joining the ranks of leading financial institutions across the Caribbean that have chosen to completely automate their back office with the Alchemy Payment Processing Platform and Internet Banking from IBIS Management Associates. More than 25 leading international banks in the region use IBIS Management solutions to dramatically improve their profitability and efficiency.

As part of its operational upgrade, ACU will also be joining the National Clearing network of the Netherlands Antilles which will allow is to interact far more efficiently with other banks in the island.

“We are delighted to now also enable Credit Unions such as the ACU to offer their customers a world class level of excellence in technology and services.” said Clark Russel, CEO of IBIS Management. “Alchemy will allow ACU customers to view their account balance information, and to process any payment instantly.”