Wescom Resources Group Completes its Best Year Ever
1/12/2009
Wescom Resources Group (WRG), a provider of technology solutions for credit unions, announced today that it just completed its best year ever, ending FY2008 with a 49% increase in revenue and 29% increase in Net Income for the CUSO.
During the year, WRG signed on 14 new clients to its MemberEdgeTM Online Banking platform, bringing to 47 the total of credit unions using WRG for their online banking system. WRG also launched a new offer: Merger Consulting, for Episys®-based credit unions. Nine credit unions hired WRG’s Merger Consulting team to assist them in their efforts in 2008.
Other significant achievements in 2008 include:
- WRG grew its Bill Pay processing volume for clients by 34% over 2007, and reached an overall electronic ratio of over 75.
- WRG signed twelve new credit unions to Remote Deposit Services (formerly UPost® Remote Deposit), bringing to 43 the total number of credit unions using the popular online check deposit solution.
- WRG deployed CollectME and ACH-on-Demand for Wescom Credit Union, a collections automation suite that integrates with outbound dialers.
- WRG release several new enhancements to its MemberEdge online banking platform, including Imagine That! -- a tool to enable credit union members to personalized their debit/credit cards with uploaded images of their own.
“Last year, more than most years, was a validation of WRG’s strategy of creating products ‘by a credit union, for a credit union’” asserts Tim Dolan, president of WRG. “Every time we roll out a new product or feature, it is to address a credit union’s business challenge. Our clients have guided the products, so we owe all our success to them.”
WRG anticipates even more momentum in 2009. Already, seven credit unions are scheduled for installation of MemberEdge Online Banking early this year. And the pending commercial availability of two new products -- MemberTrak and CollectME -- will fill important needs for credit unions seeking to tighten member relationships and increase communications during these challenging economic times. “With the changing economy, we’re seeing many credit unions hold off on costly new projects and get back to the bread-and-butter basics of member service”, states John Best, CTO and Vice President of WRG. “WRG is right in step with them, with solutions that will help them reach those objectives.”
About Wescom Resources Group
Backed by Wescom Credit Union, one of the nation’s largest credit unions, with nearly $3.4 billion in assets and serving more than 308,000 members, Wescom Resources Group provides credit unions with advanced technology solutions that increase their competitive edge. With over 225 credit union clients, WRG is a leader in innovative technologies for the credit union industry. Through its MemberEdgeTM suite, WRG offers an integrated online banking solution with electronic Bill Pay, Remote Deposit, eAlerts, Multi-Factor Authentication, Member-Directed ACH, online account opening and more. Other WRG products include Automated Lending, New Member Application, and CUNA Loanliner. Our Services Division provides Merger support, custom programming, system efficiency studies and consulting services. We also offer the most robust Episys-based Service Bureau processing solution in the industry. WRG provides credit unions with innovations that enhance their ability to serve members, reduce costs, and streamline internal operations. For more information, visit www.wescomresources.com.
Episys® is a trademark of SymitarTM, a Jack Henry Company.