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Milford Federal Savings and Loan Selects COCC for Technology Partnership

  • Decision based on overall value – technology, costs, and customer service – available from COCC
  • Innovative core technology services to help Milford Federal increase efficiency while meeting market demands
  • Choice of integrated, best-of-breed solutions enables the bank to innovate on its own terms
  • Best practices and hands-on support to accelerate bank workflows and information access for efficient growth and quality customer service

AVON, Conn., July 20, 2012 — COCC, the leading provider of next generation technology services for financial institutions, is pleased to announce that Milford Federal Savings and Loan Association of Milford, Massachusetts has selected COCC for a long term technology partnership. The $349 million bank based its decision on overall value – technology, costs and customer service – available from COCC.

“Our partnership with COCC gives us a broad range of integrated, best-of-breed solutions to increase efficiency and to support our future needs,” said Cynthia A. Casey, President and CEO of Milford Federal Savings and Loan Association. “We especially appreciate the depth of COCC’s support which gives us the technology we need to quickly respond to market changes with quality, innovative solutions. Wherever we want to take the bank, COCC is there to support us.”

Milford Federal is celebrating 125 years as a Family Financial Center for residents in the tri-state area of Massachusetts, Rhode Island, and Northern Connecticut. The bank specializes in owner-occupied home mortgages and is committed to providing the full spectrum of sound financial products. Exceptional service continues to make Milford Federal one of the area’s most popular banks.

“We are especially pleased with the efficiencies available to us as a result of our conversion to COCC,” said Joseph Fournier, Senior Vice President and CFO at Milford Federal.  “We now have access to the functionality and support we need to make us more productive – an important requirement in today’s business environment. COCC’s next generation technology structure also makes it easy to add new functionality, which they’re doing all the time with core processing apps.”

The bank’s recent conversion to COCC included an integrated document management system which has reduced paper and increased access to information bank-wide. New fraud defense systems in the electronic banking area are also helping Milford Federal reduce cost while increasing functionality. Core processing ‘apps’ now help staff respond to customer questions about overdrafts in record time.

“Beyond the technology, COCC is the partner where everybody knows your name,” Mr. Fournier added.  “We can talk to anyone in the organization and know that our comments and suggestions get attention at the highest level. Our bank needs that support quality to succeed in this time of great change in the financial services industry.”

Richard A. Leone, COCC’s President and CEO, added, “COCC’s greatest advantage is its unique combination of innovative technology and support. This combination is the power behind our client partnerships. We listen and encourage our clients to guide us in developing our technology services, a practice that continues to drive our ongoing success. We are extremely pleased that Milford Federal will use our unique combination of innovative technology and partnership as a driver for their own efficient growth.”