We recently announced some numbers we are very proud of. As announced on Credit Union tech-talk:
“Enhanced Software Products (ESP), the Spokane, WA-based Credit Union Core Data Processor, recently announced the positive growth results of a survey of their entire credit union client base. Their overall average financial and member growth numbers over the life of a credit union on their FORZA3™ core system are: 35% growth in number of accounts; 98% growth in assets; and 82% growth in loan portfolio.”
We are running at 100% renewals and our Clients are growing. This study/research was performed across our entire client base, no matter how long we have been partners.
“To be the Most Trusted and Admired Core Processor in the Industry”
That is our Vision. It is not to imply we are going to take one hundred credit unions from our competitors or expect that our competitors be knocking on our door asking us what we are doing “right”. We know better than that. The Vision is a direction, words to live by if you will.
“Most Trusted”. This speaks to our Clients. If we continue to do the right thing, as close to every time as humanly possible, we will gain Trust. A solid infrastructure to support growth, developing and deploying tested, quality solutions every time and continuing to improve the communication channels. All of this will lead to Trust. We measure the Trust by Agreement Renewals, what we like to call “Opportunities”. An opportunity to show that we deserve to be the chosen core processor for our Clients. So how are we doing for 2015, here is a breakdown:
Agreements Renewed =
10 / 10
Average Renewal =
“Admired”. The way we would like to be viewed. Be the best partner we can be for our Clients, the best partner we can be for our strategic alliance partners and carry our ESP, Inc. name in the industry with pride. Our Client peers and ESP partner peers, we want those people to look at the relationship we have formed and “admire” that working relationship, through the good and bad. We take great pride in all of our Clients and we are proud of the partnerships we have formed in the industry, something we take very serious.
“Be the Most Trusted and Admired Core Processor in the Industry”, striving to be the best is bringing us opportunities to serve new Credit Unions, retain/serve existing Clients and be a great partner to our strategic alliance partners.
100% and 6.14 years – we are working with other Clients on renewals right now, but we are very excited about this year and the future! 2016 will be our 20th year and we will enter it full-speed ahead.
Shaun Murray, Chief Elbow Rubber
NACHA, The Electronic Payments Association, has adopted a Rule to provide new, ubiquitous capability for moving ACH payments faster. This Rule will enable the same-day processing of virtually any ACH payment.
This is extremely exciting for the Credit Union and the Member. With all things ACH, you will want to take a couple of minutes and read a little more about it. Feel free to view this information on NACHA’s website, here http://bit.ly/1MHaOMh.