Worldwide Interactive Services, Inc

Great Lakes Credit Union
Toledo, OH
Industry - Financial
Solution - Automated Account Access via WWW

Background
The Great Lakes Credit Union, GLCU, a Toledo, Ohio-based credit union, has been a leader in the credit union industry since it was founded in 1940. Though it originally had a federal charter to include brethren credit unions in neighboring Midwest states, throughout the 1990's, GLCU eliminated its out-of-state branches and opted for a state charter to focus on its Ohio niche. GLCU serves a consortium of over 400 companies, associations, and groups in Northwest Ohio . This multi-branch credit union has 5,100 members and over $26 million in assets.

Challenge
GLCU relied upon its historical precedent to retain members in its credit union. Unfortunately for Great Lakes , many of its members were becoming disenchanted with its antiquated technology. Great Lakes , similar to most medium sized credit unions, could not afford the substantial initial investment required for a technology upgrade. Conversely, if they did not upgrade current services and incorporate cutting edge technology, many GLCU members, in all likelihood, would eventually transfer to larger credit unions or banks that provide access to such services. It was evident that GLCU needed to find a comprehensive and economically feasible technology partner.

Solution
GLCU's Chief Financial Officer, David Deer discovered the "low cost" of Internet and Wireless Banking solutions provided by Worldwide Interactive Services, Inc. With Worldwide, there is no expensive primary investment because Worldwide offers its clients a completely out-sourced solution; far less expensive than on-premise equipment. Deer realized that with Worldwide he would get far "more bang for the buck." With Worldwide's out-sourced Internet Banking platform, Worldwide maintains the majority of GLCU's information and infrastructure within a nationwide co-location environment. This ensures data is available to members 100% of the time. An on-premise solution would oblige GLCU to buy costly equipment upfront, install data lines, enroll in expensive maintenance plans and still not ensure a 100% redundant environment. Because GLCU did not have to purchase any of this equipment, GLCU was able to afford these new technologies by paying on a per-use basis for Wireless Banking as well as a minimal, flat monthly fee for Internet Banking.

Results
Enhanced Member Satisfaction: Members of GLCU have been extremely pleased with the services provided by Worldwide. With Wireless and Internet Banking, members of GLCU have been able to access accounts from any location at any time. David Deer claims his members thoroughly appreciate "additional features such as Quicken (compatibility) and Account Alert (Version) 4.0." Because Worldwide's Internet Banking platform is compatible with Quicken and Microsoft Money, members of GLCU are able to download information off of the website and onto their home computer. With Account Alert Version 4.0, members are given 'alerts' when a significant payment is due or their balance falls below a determined amount.

Cost Efficiency and Convenience for GLCU: In the opinion of David Deer, one of the most attractive features of Worldwide's offerings is the price. Not only was it significantly cheaper than its competitors, but it actually saves GLCU approximately "ten to fifteen thousand dollars a year." In excess staffing expenditures, Worldwide has reduced GLCU's overhead costs by thousands of dollars.

	Case Study 1 Great Lakes Credit Union Toledo, OH Industry - Financial Solution - Automated Account Access via WWW Background The Great Lakes Credit Union, GLCU, a Toledo, Ohio-based credit union, has been a leader in the credit union industry since it was founded in 1940. Though it originally had a federal charter to include brethren credit unions in neighboring Midwest states, throughout the 1990's, GLCU eliminated its out-of-state branches and opted for a state charter to focus on its Ohio niche. GLCU serves a consortium of over 400 companies, associations, and groups in Northwest Ohio . This multi-branch credit union has 5,100 members and over $26 million in assets. Challenge GLCU relied upon its historical precedent to retain members in its credit union. Unfortunately for Great Lakes , many of its members were becoming disenchanted with its antiquated technology. Great Lakes , similar to most medium sized credit unions, could not afford the substantial initial investment required for a technology upgrade. Conversely, if they did not upgrade current services and incorporate cutting edge technology, many GLCU members, in all likelihood, would eventually transfer to larger credit unions or banks that provide access to such services. It was evident that GLCU needed to find a comprehensive and economically feasible technology partner. Solution GLCU's Chief Financial Officer, David Deer discovered the "low cost" of Internet and Wireless Banking solutions provided by Worldwide Interactive Services, Inc. With Worldwide, there is no expensive primary investment because Worldwide offers its clients a completely out-sourced solution; far less expensive than on-premise equipment. Deer realized that with Worldwide he would get far "more bang for the buck." With Worldwide's out-sourced Internet Banking platform, Worldwide maintains the majority of GLCU's information and infrastructure within a nationwide co-location environment. This ensures data is available to members 100% of the time. An on-premise solution would oblige GLCU to buy costly equipment upfront, install data lines, enroll in expensive maintenance plans and still not ensure a 100% redundant environment. Because GLCU did not have to purchase any of this equipment, GLCU was able to afford these new technologies by paying on a per-use basis for Wireless Banking as well as a minimal, flat monthly fee for Internet Banking. Results Enhanced Member Satisfaction: Members of GLCU have been extremely pleased with the services provided by Worldwide. With Wireless and Internet Banking, members of GLCU have been able to access accounts from any location at any time. David Deer claims his members thoroughly appreciate "additional features such as Quicken (compatibility) and Account Alert (Version) 4.0." Because Worldwide's Internet Banking platform is compatible with Quicken and Microsoft Money, members of GLCU are able to download information off of the website and onto their home computer. With Account Alert Version 4.0, members are given 'alerts' when a significant payment is due or their balance falls below a determined amount. Cost Efficiency and Convenience for GLCU: In the opinion of David Deer, one of the most attractive features of Worldwide's offerings is the price. Not only was it significantly cheaper than its competitors, but it actually saves GLCU approximately "ten to fifteen thousand dollars a year." In excess staffing expenditures, Worldwide has reduced GLCU's overhead costs by thousands of dollars.	How it works The process of sending your data to Worldwide couldn't be easier. Services by Industry