Credit Unions: A roadmap for being future-ready

The digital visionary Marry Gunaratnam, CIO & Head of Information Security, Northern Credit Union, suggests how credit unions can balance budgets and boost efficiency:

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In a rapidly digitizing financial landscape, credit unions face both compelling opportunities and complex constraints. While the push for innovation is undeniable, institutions rooted in community-first values must navigate modernization without compromising financial prudence or trust.

Marry Gunaratnam has spent over 4 years at Northen Credit Union. She leverages her experience to share how credit unions are finding the balance through strategic transformation, coalition building, and a renewed focus on scalable, future-ready solutions.

LEGACY MEETS AGILITY

With over $2.3 billion in assets under administration and a presence across Northern Ontario, Northern Credit Union serves 29 communities with a vision rooted in human connection. But as Marry points out, legacy systems pose a growing challenge. “We are running on cores that are 30 years old. They were built for a different era, and it's difficult to bolt on modern capabilities like APIs or real-time integrations.”

She highlights that while major banks can afford large-scale digital investments, credit unions must think differently. “For us, it’s not just about catching up. It’s about doing so responsibly, with every dollar spent adding clear value to the member.”