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Solutions > December 2010 > Operations Year In Review

Operations year in review

By: Marcus Wannemacher, VP, Operations

It has been a busy year for Corporate One’s Operations team, but we’re proud to report that it was also a successful one. Our team worked hard to ensure our member/owners continued to receive reliable payment processing, prompt and courteous member service as well as efficient and knowledgeable product implementation. Our consistency in service is a vital component in serving our members well and in ensuring that Corporate One continues to be one of the nation’s most trusted providers of financial services to credit unions.

In addition to the highlights listed below, it’s important to point out that Corporate One continues to maintain one of the strongest efficiency ratios in our industry. Thanks to successful and profitable solutions supported by streamlined operations, Corporate One has sustained a coverage ratio greater than 80 percent throughout 2010. We are proud to not only offer our members consistent service, but service that adds value because it is expertly and efficiently delivered. Our other highlights include:

  • Corporate One achieved 99 percent on-time daily delivery of payment services to our members.
  • Corporate One Operations conducted a total of 596 member product implementations in 2010. This included welcoming 39 new members Corporate One and successfully moving their payment processing services from their former providers to Corporate One on-schedule.
  • Corporate One intercepted and processed more than 60 million share drafts for our credit unions in 2010. Natural person members retrieved over 8,500,000 draft images from our database through credit unions’ on-line banking systems.
  • Our electronic check collection product offerings expanded to more than 850 credit union branches, including 45 image-enabled ATMs, and 58 new credit union users coming to us through eDOC Innovations, Inc. and VSoft, two of our newer business partners. During 2010 Corporate One collected $25 billion worth of electronic items for our credit unions. We now store well over 200 million check images in our databases.
  • Corporate One has processed more than 43 million ACH transactions thus far this year. We also successfully moved our ACH product behind Corporate One security tokens, providing true multi-factor authentication for this important product. The move required more than 1,300 users to be moved simultaneously over one weekend, which we completed with no negative impact to our users.
  • In cooperation with PSCU Financial Services, the nation’s largest CUSO, we developed a new ATM / Debit Card program for our credit unions. During 2010, we converted 45 credit unions to this new service and have several more conversions already scheduled for 2011.
  • Corporate One developed a new vault services program in conjunction with JPMorgan Chase that provides coin and currency services to most of the United States. Leveraging one national bank partner has reduced our costs of managing multiple bank relationships, as was the case with the old ADDS program, while offering the ease of on-line ordering and a reduction in fees for many credit unions.
  • Our popular select surcharge ATM group, Alliance One, now has 968 participating financial institutions providing their members with access to 4,924 ATMs in 43 states.
  • Operations successfully completed business continuity testing of all payment products and MemberView. Regular business continuity testing is a vital component of our commitment to provide our credit unions and their members with uninterrupted services.