New York's sunnyside federal selects cocc

AVON, CT, September 4, 2008 – COCC, the region’s leading provider of next generation technology services for financial institutions, today announced that Sunnyside Federal Savings and Loan Association of Irvington, NY has selected COCC for a long term technology partnership. The bank expects to launch new delivery channels and add the latest online products to attract more business in New York’s Lower Hudson Valley.

“We are beginning a new chapter in the history of Sunnyside Federal,” said Timothy D. Sullivan, the bank’s President and CEO. “COCC’s technology and hands-on approach to support are exactly what we need to strengthen our customer relationships and to support our growing portfolio of banking services. We look forward to COCC’s partnership and expertise in helping us expand our product line and increase sales.”

Located only 20 miles from midtown Manhattan, Sunnyside Federal is named after the nearby home of Washington Irving, author of “The Legend of Sleepy Hollow.”  The bank is known throughout Westchester County as a portfolio lender with the flexibility to work with its long-standing customers who live in the picturesque towns along the eastern bank of the Hudson River.

“The multi-generational relationships that have kept Sunnyside Federal profitable since 1930 are beginning to change,” said Mr. Sullivan. “Our customers are becoming more comfortable with new technologies like enhanced on-line banking, and we need to serve them. COCC’s proven capabilities in the online arena are a definite plus, particularly since those capabilities are integrated with their open technology platform, including an Oracle-based core (account) processing system.”

Sullivan said that core processing is essential  to all  aspects of the bank’s business. Automation, flexibility, and the ability to ‘plug-in’ new capabilities will be key to increasing the bank’s efficiency, he said. “We are looking forward to building our products on top of a strong technology foundation which supports the many product options that today’s customers expect.”

Among the commercial products that Sunnyside Federal will implement during the technology conversion is remote deposit capture. Mr. Sullivan said the bank has several loan customers who would prefer to move their deposit relationship to a smaller community bank but feel they need the more convenient locations of a larger bank. “Remote capture enables us to present a compelling argument for any business customer to bank with Sunnyside Federal,” he said.

On the consumer side, the bank plans to add an enhanced suite of online banking products, next generation ATMs, and image payment processing through check image exchange that will increase the customers’ availability of funds while reducing the bank’s costs as well as the potential for fraud.  

The bank also appreciates COCC’s cooperative structure that delivers personal service to its family of financial institution customers. “Serving customers comes first at COCC,” Sullivan said. “We look forward to working with their technology specialists to develop the products and services that will make our bank successful. With everything going on with the financial industry and the economy, we want partners like that.”

Richard A. Leone, COCC’s President and CEO, agreed. “The key to COCC’s success is its strong client relationships. These relationships, strengthened by frequent contact and the honest exchange of ideas, have made us what we are today – a company that listens intently to its customers for opportunities where we can provide real value through technology leadership. We deeply appreciate the trust that Sunnyside Federal has placed in us and look forward to exceeding the bank’s expectations for quality, innovative service.”