luso federal credit union selects cocc for technology partnership
 

AVON, Conn., March 4, 2008 – COCC, the region’s leading provider of next generation technology services for financial institutions, today announced that Luso Federal Credit Union has selected the company for a long term technology partnership. Luso Federal’s conversion to COCC will enable the $147M credit union headquartered in Ludlow, Massachusetts to expand its product line to accommodate a dramatic increase in its field of membership. “We needed a core system conversion to make us more dynamic in our marketplace,” said Jennifer M. G. Calheno, Chief Executive Officer at Luso Federal Credit Union. “Our credit union recently expanded its charter and field of membership from the town of Ludlow to all of Hampden County. We knew this would increase our members’ demands for products and services, and we wanted a technology partner who could accommodate every need for financial services that our members might have. We thoroughly reviewed six potential vendors and chose COCC.”

Jennifer M. G. Calheno, CEO and Michelle Forget-Grenier, Member Service Manager, promote Luso Federal Credit Union’s ‘Go Green’ product line. Luso Federal just selected COCC for a long-term technology partnership.

After nearly doubling its assets and membership over the past six years, Luso Federal was granted a charter change that increased its field of membership from 23,000 to over 461,000. To attract members in this expanded market, Luso Federal has built a new solar-efficient office and launched a “Go Green” product campaign that promotes environmental consciousness with Internet Banking, e-Statements, and debit card usage. Luso Federal’s “Go Green” campaign also offers discounted loans for members to purchase a hybrid vehicle, make Energy Star rated improvements to their home, or pay for fuel costs.

“It’s a great way to become better known throughout our new field of membership which now encompasses every individual living, working, worshipping, attending school in, or owning a business or other legal entity in Hampden County,” said Ms. Calheno. 

The conversion to COCC will immediately add flexibility to Luso Federal’s product line while providing market-building features such as relationship pricing and integrated views of each member.

“COCC’s CRM product – Pathfinder – will show us the next logical service that a member might need,” said Sharon Dufour, Chief Financial Officer at Luso Federal. “The business intelligence product – Total Vision – will enable us to automatically cull the information we need to focus on. We believe that looking at the right things at the right time will make a world of difference.”

More basic for Luso Federal was the need for a system that Dufour says, “is good for the employees. We don’t want the technology to frustrate our staff as that frustration may then be noticed by our members. The COCC system keeps their tasks as simple as possible, so that the technology contributes to the member’s positive experience.”

That experience has changed over the years. “Credit union members want more services than before,” said Ms. Calheno. “Years ago, our members wanted a share account, checking account and a car loan.  Today’s credit union member is looking for full service — everything from safe deposit boxes to business loans, which require the advanced technology provided by COCC. We want the community to know that we have all the products of a Citizens Bank or Bank of America. We pride ourselves on being a friendly, service-oriented institution. Our technology partnership with COCC will enable us to consistently excel at meeting the expanding range of financial needs of individuals and businesses in Hampden County.”

Richard A. Leone, COCC’s President and CEO, said, “We are thrilled that Luso Federal Credit Union has re-selected COCC. Luso left us years ago when COCC’s technology service was based on a legacy platform. Today’s decision shows that our new client/server, open platform and the service it makes possible are the winning formula for Luso Federal as well as COCC. We welcome Luso back to COCC.”