PASADENA, Calif. (PRWEB) March 01, 2021
Two leading CUSOs, Wescom Resources Group (WRG) and Member Support Services, LLC (MSS), have announced a strategic partnership to benefit individual credit unions and the cooperative movement as a whole.
With a goal of helping credit unions achieve efficiency through scale, this expanded partnership responds to the changing nature of retail financial services, an evolution that has accelerated during the COVID-19 pandemic crisis. Recognizing that investments can be leveraged more effectively when shared across multiple financial institutions, this partnership is tailor-made for the cooperative mission of credit unions.
WRG provides credit unions with a powerful backbone of back office and technology support through solutions like Unitri Core Hosting and the Tellergy® on Verifone multimedia teller line terminals, allowing credit unions of all sizes to experience world class performance. Likewise, MSS has deployed a model prevalent in global financial institutions, Fortune 500 corporations and a few large credit unions to provide the benefits of scale economies in middle and back office operations.
“Our owner credit unions have benefited from significant efficiencies and savings with meaningful impact on their ROA, net worth and op ex ratios, and the ability to tap the types of skilled talent a single institution may have difficulty accessing on its own,” says Vim Anand, CEO of MSS. “We are excited to expand our long-time partnership with Wescom Resources Group as we together introduce innovative technology and operational solutions to the broader credit union movement.”
One example of how MSS’s strategic investments in top-tier skills and expertise are benefitting credit unions is its recent move into card portfolio management, where it has invested in talent and expertise typically seen at large banks only. All debit and credit card program initiatives are coordinated, enabling credit unions to grow their payment revenues and demonstrating how the power of scale can lead to strategic growth in addition to cost savings. In today’s low margin/low-rate financial services environment, the ability to leverage such expertise efficiently and cost-effectively is critical to credit unions’ long-term success.
“At WRG, we have proudly hosted MSS’s data processing since 2014,” says Dave Cerwinski, President of Wescom Resources Group, “At the same time, they’ve done an excellent job of creating cost efficiencies and service improvements for their credit union owners in other areas of operation, such as consumer lending, card processing, and collections. The combined package of what MSS provides, along with WRG’s data processing solution, provides credit unions with exceptional value across a wide span of their operations.”
About Wescom Resources Group
Backed by Wescom Credit Union, one of the nation’s largest credit unions with over $4 billion in assets and nearly 200,000 members, Wescom Resources Group provides credit unions with advanced technology solutions that increase their competitive edge. With over 75 clients, WRG is a leader in innovative technologies for the credit union industry. WRG offers one of the most robust managed services solutions in the credit union industry. In addition, WRG’s Tellergy™ solution provides branch automation for today’s modern credit union. For more information, visit http://www.wescomresources.com.
About Member Support Services, LLC
Member Support Services, LLC (MSS) is a shared services Credit Union Service Organization headquartered in Cranbury, N.J. Since its founding in 2013, MSS has processed middle- and back-office operations for its three shareholder credit unions—Aspire FCU, Credit Union of New Jersey, and United Teletech Financial Federal Credit Union.
MSS offers credit unions operational efficiency and cost savings through economies of scale and standardization, while empowering them to focus even more intently on serving their members.
In 2019, MSS’ credit union partners realized annual aggregated savings of 24% from their operating cost base when compared to their separate costs prior to forming the cooperative.
Learn more about how MSS can help your credit union achieve operational and service excellence at http://www.msscuso.com.