FedComp’s Technology Service Attract 2 New Credit Unions
For Immediate Release: February 28, 2019
FAIRFAX, Va. – February 28, 2019: FedComp, the Virginia-based core data processor, today announced that two more credit unions—UTU Federal Credit Union and Champion Federal Credit Union—have joined its roster of more than 600 credit union clients.
For more than 35 years, FedComp has been committed to small credit unions by offering an affordable accounting software solution. The FedComp software platform, which can be run on-premise or in the cloud (SaaS), enables credit unions to efficiently operate their financial institutions and remain compliant whether they want to provide basic or full-service financial services.
“The small credit union landscape is a challenging space and we truly understand our client’s pain points,” says FedComp’s President. “FedComp helps our clients and potential clients compete against larger financial institutions by educating them on the benefits of hosted services and prioritizing cyber security, offering mobile banking, home banking, and bill pay services that are scaled for an institution with a smaller footprint.”
As a small credit union in North Olmsted, Ohio, UTU FCU was won over by FedComp’s professionalism and price, according to Treasurer Tim Wiens.
“As a small credit union with an outdated computer system, we were relieved to find that FedComp did not, literally, laugh in our faces as other data processing companies did,” Wiens says. “The comprehensive system is affordable and accommodates our unique needs.” The credit union, which has been in operation since 1941, serves the employees and families of Smart Transportation.
Cambridge, Ohio-based Champion FCU, which has been serving employees and families of Federal-Mogul since 1970, was referred to FedComp by another credit union. “We decided they were a good fit for us because of their experience working with small credit unions like ours,” says Champion FCU Manager Mary Dougherty. “We also like the fact that they have a reliable support team that is easy to work with. With FedComp’s system, we expect to offer more for our members, which should help us to grow our membership.”
Addressing the needs of digital natives, retaining members and attracting new ones are some of the key priorities for FedComp’s clients, along with data security, internal staff capacity issues and compliance, adds Duff.
“As a strategic technological partner, FedComp can help our clients solve for these issues and many more,” she notes. “Through our hosted services application, we solve for the data security issues our clients face by housing their data in our secure data center so they can then focus on internal issues such as training staff, attracting new members, etc. One of our core competencies is compliance, and we’re continuously pushing out new updates, again, so our clients can focus on their highest priority: their members.”
About FedComp: For more than 35 years FedComp has serviced its credit union clients’ core data processing needs, both technically and with live 24/7 customer support. FedComp is a leading Microsoft-based core processing system, evolving from DOS in 1982 to Windows 10 today. Since 1984, more than 3,500 credit unions have employed its core data system. Today $3.8 billion in assets are managed by FedComp with credit unions in the continental U.S., Caribbean and the United Kingdom. www.fedcomp.com