The Groundwork for Growth

Worcester Credit Union Selects COCC for Technology Partnership

AVON, Conn. February 13, 2007 — COCC, a leading provider of next generation technology services for financial institutions, today announced that Worcester Credit Union of Worcester, Massachusetts has selected the company as its technology partner. The $69M credit union with almost 9,000 members based its partnership decision on COCC’s advanced technology and high quality support which will help set the groundwork for the institution’s growth in the Worcester area. “Worcester Credit Union is positioning itself for success in Worcester’s revitalization,” said Karen E. Duffy, President and CEO, Worcester Credit Union. “When we considered technology platforms to support our growth strategy, we could see that COCC’s state-of-the-art technology, outstanding support, and “can do” attitude would be the best choice for us to implement our plans. COCC really is the better data processor.” Worcester Credit Union first opened back in 1934 for teachers employed by the City of Worcester. More recently, Worcester Credit Union converted to a community charter, enabling it to serve anyone who lives, works or attends school in Worcester and its surrounding towns. Last year, the credit union opened its first branches – one on Main Street in downtown Worcester, and a second branch inside the new $90M Worcester Technical High School.

Karen Duffy, Worcester Credit Union’s President and CEO, discusses the decision to partner with COCC for information technology.

“Our Main Street branch is introducing Worcester’s business community to our excellent value and outstanding service,” said Ms. Duffy. “It’s around the corner from both the soon to open Worcester Regional Courthouse and the half billion dollar City Square project slated to finish in 2009— this will be the new heart of Worcester’s growing business district. The Technical High School branch is increasing our visibility throughout the area as existing members, students and visitors use our full service branch. We are definitely expanding beyond our roots of serving only Worcester’s municipal workers.”

The search for new technology to support Worcester Credit Union’s growth strategy began as a due diligence exercise and evolved when news of COCC’s quality service came to light. Ms. Duffy mentioned her conversations with several colleagues, “knowledgeable, demanding CEO’s” of Massachusetts credit unions who are also COCC clients. “They have been with COCC for years, and were candid with me – they emphasized COCC’s excellent service, array of products and services and their responsiveness ” she said.

When Worcester Credit Union’s conversion research committee investigated COCC’s systems, support methodology and results more deeply, “the comments were incredible,” said Ms. Duffy. “Everyone said they could do more in a more efficient manner with COCC. They wanted to know how soon they could convert.”

Credit union staff mentioned a variety of technology advantages they observed with COCC, from member-based architecture to a single platform for all member accounts and Oracle Financials which is used by some of the world’s most sophisticated companies. Just as important was COCC’s cooperative ownership and resulting commitment to service flexibility and hands-on support.

“COCC is a lot more than the most advanced technology,” said COCC’s President and CEO, Richard A. Leone. “We are a service organization owned by its clients, and for that reason, we offer the most responsive service in the industry. We are extremely pleased that Worcester Credit Union saw the value of COCC’s complete service proposition. We look forward to working with them to achieve their strategic growth goals in the Worcester metropolitan area.”

Ms. Duffy added, “Any system conversion is going to be a lot of work, and it’s our job to ensure that we have made the right decision. There is no question in our minds that COCC is the right choice for Worcester Credit Union.”