Grossmont Schools FCU Cites Tech Tools for Swift Growth
EL CAJON, Calif. - Grossmont Schools Federal Credit Union offers its 5,200 or so members such services as e-statements, home banking and even single sign-on bill pay, all with one office and 16 employees. The $70 million, single-sponsor CU has been getting its online service tools in a service bureau setting from eCU Technologies, the tech CUSO of Pennsylvania State Employees Credit Union. "Now instead of being on the bleeding edge of technology, we're much closer to the leading edge," says Steve Devan, president and CEO at Grossmont Schools FCU. The relationship with eCU is a continuation of an effort that has seen the CU grow from $20 million to $70 million in five years using advances in technology and shared branching while retaining the "intimacy of a smaller, more service-oriented financial institution," Devan says. He says the CU expects to achieve 25% penetration for bill pay and 20% for e-statements by year's end. "Grossmont Schools is the perfect example of how a credit union can leverage the power of online services and squarely compete with larger financial institutions without vastly increasing its overhead," says Alan Brunner, COO of eCU Technologies in Harrisburg, Pa.