ESP Welcomes Lakewood Credit Union to the ESP Family
Enhanced Software Products, Inc. (ESP) welcomes Lakewood Credit Union of Rib Lake, WI, to the ESP Family.
Lakewood Credit Union was founded in 1961 by local business leaders with a mission to serve the Rib Lake community. In 2003, they expanded their service area to include Lincoln, Price, and Taylor Counties. Currently, the credit union serves 1,300 members and retains over $13,500,000 in assets.
Jonathan Roepke, President of Lakewood Credit Union, sought to streamline operations and enhance member experience. Recognizing the limitations of their current core processing system, Roepke sought a more efficient and affordable alternative. The new system was expected to significantly improve operational efficiency and elevate customer service.
Following a thorough evaluation and demonstration of various core processing options, Lakewood chose ESP's FORZA. Jonathan's previous role as CEO of Holy Family Memorial Credit Union of Manitowoc, WI, where FORZA was successfully implemented, provided valuable insights into the platform's capabilities. He saw the difference the right core could make for a credit union.
Lakewood found that ESP was just the right size to serve his credit union. ESP provides many services under one roof, empowering smaller credit unions to compete toe to toe with larger financial institutions. All operations, including programming, customer service, data processing, and print services, are accomplished from their single Spokane Valley, WA headquarters. This centralized approach translates to rapid response times. Clients wait mere seconds for customer service instead of days or weeks for the competition.
FORZA comprehensively fulfilled the credit union's requirements for a modernized core system. One of the most compelling advantages was the platform's streamlined report-generation capabilities. FORZA's automated processes significantly reduced operational overhead. By freeing up valuable staff time, FORZA enabled Lakewood Credit Union to prioritize member satisfaction and pursue strategic initiatives that drive growth.
ESP not only met but exceeded Lakewood Credit Union's budgetary expectations, providing a cost-effective solution that delivered substantial value. This commitment to delivering exceptional value is a cornerstone of ESP's business philosophy, ensuring that clients like Lakewood Credit Union can invest in growth and innovation while managing costs effectively.
Customer service was paramount to Roepke. His industry experience highlighted the critical role support plays in a credit union's success. Recognizing ESP's industry-leading reputation for customer service, he was confident in their ability to meet Lakewood Credit Union's needs.
The conversion process unfolded seamlessly. Roepke firmly believes that effective communication is the cornerstone of a successful system conversion. He stated, "It's all communication, communication, communication." ESP's conversion plan exemplified this principle through meticulous coordination and transparent communication at every stage. The credit union proactively communicated conversion details to its members well in advance, fostering an open dialogue and addressing member concerns before the system change. By maintaining open lines of communication and providing regular updates, ESP ensured that Lakewood Credit Union's team was fully informed and engaged throughout the process.
Early training with a core processing software platform is crucial for a smooth and efficient implementation. By familiarizing staff with the system well in advance, credit unions can identify potential challenges, develop effective workflows, and ensure a seamless transition.
"We were impressed by ESP's proactive approach to providing a test database months before the conversion. This gave us ample time to familiarize ourselves with the system, a luxury many other core providers don't offer." - Jonathan Roepke
ESP's comprehensive conversion support for the credit union included an on-site team consisting of two seasoned trainers and an IT expert, plus a dedicated team of IT professionals and programmers back at headquarters. This dedicated group provides hands-on assistance, ensuring a seamless transition to the new core system. Their in-depth knowledge and expertise are instrumental in addressing challenges, providing training, and optimizing system performance.
ESP Client Services Manager and on-site trainer, Shelly Rogers, commended Lakewood Credit Union for their exceptional preparation, which contributed significantly to a seamless conversion process. "The credit union did their homework, preparing staff and members for the change. Their early software access and well-structured training helped a lot." Rogers attributed the credit union's success to consistent communication both with ESP and members.
Lakewood Credit Union was the pioneering adopter of ESP Digital Banking, the company's innovative new platform. The membership seamlessly transitioned to the new platform, with minimal difficulty accessing the online banking portal or downloading the mobile app. The platform's intuitive design resulted in an exceptional user experience, significantly reducing the need for member support.
Kyle Wolfley, Project Manager of ESP Digital Banking, expressed enthusiasm for the platform's early success. "After more than a year of development, we're thrilled with the positive reception of ESP Digital Banking," he said. ESP will roll out ESP Digital Banking to all interested existing clients in the near future.
The partnership between ESP and Lakewood Credit Union marks a significant milestone for both organizations. By selecting ESP's FORZA core processing system and embracing ESP Digital Banking, Lakewood Credit Union has positioned itself for future growth and success. Lakewood Credit Union's CEO states: "ESP is going to be part of our future." The credit union's commitment to its members, coupled with ESP's innovative solutions and exceptional customer service, creates a powerful synergy that will undoubtedly benefit the Lakewood community for years to come.