COWWW Software

Imagine drastically decreasing the time it takes your tellers and member service representatives to perform such time-consuming tasks as looking up and delivering copies of receipts, statements, and share drafts. Imagine cutting that time from a few hours to just a few minutes. This was the case with Credit Union of Southern California ($345 million, 36,000 members) when they implemented a COLD (Computer Output to Laser Disk) and imaging system from COWWW Software.

Like most progressive and growing credit unions, Credit Union of Southern California (CU SoCal) is faced with an enormous mountain of paperwork in the form of loan documents, various applications, signature cards, receipts, and much more. Confronted with a fireproof file room that was bursting at the seams and no way of expanding without displacing three or four staff members, CU SoCal decided it was time to make the leap into a comprehensive imaging solution. They knew that they could not only avoid expensive file storage room construction costs, but would also improve staff productivity and member service by implementing COWWW’s COLD and imaging system. 

CU SoCal’s Vice President of Information Services Ray Rounds explains that the COWWW system is a key component of the credit union’s quest to consistently deliver world class member service. Case in point: tellers and member service representatives at the branches can instantly lookup and deliver copies of receipts, statements, share drafts, etc. to members. CU SoCal’s research department can also quickly deliver documents to members or to authorities, in the case of a court subpoena. “It was a very time consuming endeavor for them before we had imaging,” confirms Mr. Rounds, “but now what used to take up to eight hours or so, can be done in just a few minutes.”

Stepping back to the vendor search phase, the credit union did not want to rush into any COLD and imaging system that would not meet their stringent requirements: one that was open, flexible, and had enterprise-wide capabilities. Furthermore, it needed to be easy to install and maintain, browser-based and integrate well with their core processing system from Symitar. With over 18 years of information technology experience, Mr. Rounds knew that it would take quite a bit of research and many months of due diligence to find a vendor capable of meeting their well thought out wish list. In the end only one vendor was up to the challenge: COWWW Software.

COWWW Software emerged as the vendor of choice over several other vendors because they provide a comprehensive information archive and delivery system that is tailored for credit unions. “They have very good usability and the fact that they are browser-based were huge factors in our decision,” says Mr. Rounds. Wisely, the credit union took a step by step approach to such a huge project: they started with member signature cards first because that was a commonly requested item from their four remote branches. Mr. Rounds was pleased to report that “the initial install went really well; in fact COWWW even placed one of their senior programmers onsite to help us with integration efforts and enhancements.” He continues, “COWWW really stepped up to the plate with their support to ensure a very smooth rollout.”

The credit union’s next steps were to install and configure a COLD system for the hundreds of reports that come off of their core system, and to begin the process of archiving their important older reports. The results are impressive: now less than one percent of reports are printed to hard copy. In the process, CU SoCal saved on both paper and storage costs, which has helped them enjoy a quick payback. Mr. Rounds adds that “we eliminated a lot of report routing problems and our employees have been ecstatic about the new imaging system.” It also made his job and his IS employees’ jobs a lot easier: “COWWW’s browser-based solution really streamlined the rollout and ongoing support for us.”

The next phase of the CU SoCal’s imaging project involved incorporating loan documents and teller line receipts into the system. Of course, many types of loans require extensive paperwork to accompany them before they can be processed and approved. The credit union devised a clever way to tie all of these documents to the loan application through the use of one bar code. As for teller receipts, CU SoCal has deployed electronic signature pads at the teller line and automatically archives all receipts that require a member’s signature. COWWW’s Receipt Capture module electronically stores that signature and the entire teller transaction in one file. Signatures can even be compared electronically to stored signature cards for greater account security. Looking up the receipts at a later time is simple matter, plus the credit union does not need to purchase and use expensive two-part receipt paper and specialized printers. With 36,000 members, CU SoCal used to have to manage hundreds of thousands of little pieces of paper annually, but with the advent of the COWWW system, all of that information is now stored in a convenient digital format.

All in all, CU SoCal has found a vendor that will grow with them and will continue to fulfill their needs for years to come. The COWWW system is powerful and scalable enough to accommodate the credit union’s aggressive growth plans. Mr. Rounds enthuses that “we have an excellent ongoing communication with the COWWW Software staff – in fact, they even call us just to see how things are going!” He concludes that “they have worked with us on several levels and we very much view them as our business partner for the long term.”