s c for c u sccu ervice enter redit nions, inc.. 1971 to 1982 offered bookkeeping services out of...
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SC
forC
U
SCCUervice
enter
redit
nions, Inc.
1971 to 1982 offered bookkeeping services out of home office
SCCU Organized in 1982
Provides Data Processing & Bookkeeping Services to Credit Unions
Once involved – I was hooked
Joni Brown – Owner and President
2 Full-Time Employees
5 Part-Time Employees
Genesis Who are we?
SCCU MissionOffer affordable services to smaller credit
unions
Keep smaller credit unions going
Slow down the liquidations and mergers
Educate the movement that there is a place for smaller credit unions
Being small doesn’t mean unprofitable or unsuccessful
On-Line General Ledger
Interest on Loans and Dividend Calculations
Weekly Trial Balances
Printed Statements
Credit Checks and Reporting
Loan Documents
Bank Reconcilements
Monthly Reports
Budgets
Allowance for Loan Loss Calculations
Assistance with Writing Policies
Services
Full Services
5 Credit Unions useSCCU as their office
All transactions handled by SCCU
Members call for information on their account
Members request withdrawal checks and loan applications
Loans are approved by various Credit Committees and/or Loan Officers
Loans disbursed by SCCU
Quarterly Statements prepared by SCCU and distributed to members via U.S. Mail or Inter-Office Distribution at each of the Credit Union’s sponsored locations
Marketing Materials are prepared and distributed by SCCU
Prepare Board Packets
Attend Monthly Board Meetings upon request
Credit Unions are kept up-to-date with important regulation changes
PartialServices
13 Credit Unions use the Partial
Services of SCCU
Each credit union has their own
office to conduct business
Each credit union is provided with
services tailored to fit their exact needs
Services include but not limited to:
Data Processing, Balancing of Daily and Monthly Work
Bank Reconcilements
Credit Reports
Loan Documents
Policy Updates and Changes
By the Numbers
Service 18 Credit Unions networked to the Share One System
Service 6 Credit Unions on an “As Needed Basis”
Service 38 Credit Unions with Credit Reports
Membership Assets18 Network CU’s 7,495 $22,215,440.93 as of 3/31/13
6 As Needed CU’s 5,964 $28,315,218.00 as of 6/30/12
Target small Credit Unions with $10,000,000 and under in assets. These Credit Unions cannot afford full-time staff. SCCU offers services that they need.
Credit Unions with over $10,000,000 in assets do not need most of the services SCCU offers.
Marketing
Geographically – Cover Philadelphia, Bucks, Montgomery, and Delaware Counties
Have recently expanded service to Credit Unions in New Jersey
MarketingWord of Mouth is
SCCU’s most successful marketing tool. Regulators and Trade Associations have recommended our services. Therefore most of the credit unions have approached SCCU. In the beginning SCCU did marketing via personal letters and contacted credit unions directly.
SCCU Saves Money for Smaller Credit Unions
Generic Forms
VouchersEnvelopesCredit Bureau ReportsNote and Disclosures
Insurance – Disability & Life
Statements/FormsLoan ApplicationsTax Reporting
Overhead Cost Spread Out Among all Credit Unions
Office StaffRent
Utilities – Phone and ElectricOffice SuppliesComputer Equipment
Usage Tracked Daily for Individual Credit Union
Photocopies
Fax
Postage
LocationMain office located outside Philadelphia
in Bucks County.
Credit Unions that use us as an office are located within a reasonable distance.
Branch opened in northeast Philadelphia shared with a larger credit union.
However, several credit unions have membership throughout Delaware Valley. These members transact their business via telephone and mail.
In some cases SCCU e-mails the files to credit unions and/or download files via the internet.
Terminal Service Remote Internet Access has been added. 11 credit unions are presently taking advantage of this option.
Location
Biggest Challenges?
Staff
Potential employees may not have Credit Union experience
But must be dedicated and interested in helping others
And Willing to Learn
When looking, remember.
1 full time person has been with SCCU since start of operation
1 part time person has been with SCCU over 10 years
Part of SCCU’s success can be attributed to low employee turnover.
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