COCC, Avon
United-American Savings Bank, which is based in Pittsburgh, has selected Avon-based COCC, a provider of next-generation technology services for financial institutions, for a complete data processing partnership. Officials said the $47 million community bank’s decision gives it a dynamic next-generation platform to support its record growth in the Pittsburgh area.
“Converting to COCC is a vital step in growing the bank, increasing its profitability and keeping our customers happy,” said Wayne H. Freed, president and chief executive officer of United-American Savings Bank. “We wanted a technology provider that could reduce cost, improve workflow and enhance our services. COCC not only met these objectives, it exceeded them. There is no doubt in my mind that we made the right decision.”
United-American has distinguished itself in Pittsburgh’s thriving South Side with 23 percent asset growth since last year and innovative products that reportedly have inspired the market. Freed explained that the bank had few checking products and plenty of passbooks prior to his arrival in 2004. Since then, United-American has revamped its product line to grow its non-interest bearing deposits and increase lending volume while pursuing the local business community with statement savings and a unique merchant services program.
“Growth is very important to United-American,” said Freed. “We have increased our print and broadcast advertising to build awareness of the bank’s brand. By next year, we fully expect to have expanded to new locations in the Greater Pittsburgh area. That’s why state-of-the-art technology is so important.”
Freed added that the new technology will help the bank adapt its workflow to evolving needs.
“COCC will enable us to scan customer information into the system from driver’s licenses, view signature card information online, capture and process checks electronically and provide e-statements to our home banking customers,” he said. “We also will improve staff access to information so we can pull finished reports from the system instead of transposing and recalculating figures. All of these technologies are examples of what COCC is doing today that everybody else is still working on.”
Rockville Announces Dividend
Rockville Financial, parent company of Rockville Bank, has announced its first dividend since becoming a public company in spring 2005. The dividend, in the amount of 4 cents per share, will be payable on Aug. 31, 2006, to shareholders of record as of the close of business on Aug. 21, 2006.
“We are happy to announce our first cash dividend to shareholders,” said William J. McGurk, president and chief executive officer of Rockville Bank. “We continue to enjoy solid growth because of our customers, businesses, employees, governance, communities, shareholders and others. We are committed to remaining independent and will pursue opportunities to enhance our future financial performance. Our focus on superior customer service will remain our top priority.”
Rockville Bank is an 18-branch community bank in Connecticut that strives to provide a convenient banking lifestyle for the communities it serves: Coventry, East Hartford, East Windsor, Ellington, Enfield, Glastonbury, Manchester, Rockville, Somers, South Glastonbury, South Windsor, Suffield, Tolland and Vernon. It operates four supermarket locations that are open seven days a week.
