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LorMet

LorMet Community Federal Credit Union of Amherst, Ohio, knew they wanted
to switch to a more advanced core processing system but they were also seeking a partner with a focus on service. As a growing financial institution with $185MM in assets and over 21,000 members, they were in need of a system that could solve their most pressing issues. LorMet’s future was restricted by an inefficient, paper-centric system that required separate vendors and platforms for basic needs they believed should be part of a core processing system. This predicament made research very difficult and increased costs.Slow support services, inadequate reporting for data and analytics, delays in loan and new membership application processing and lack of adequate staff training on the system added to their pain. The credit union knew that if it was to successfully uphold its mission—its commitment to excellence in products, services and membership engagement and satisfaction—a drastic change was required.

Since making the switch to Sharetec, LorMet has achieved several key
improvements, resulting from the core processor's enhanced automation and efficiency capabilities.

Emily Bopp, CFO, LorMet, remarks, “Having all of our functions on the core was a significant improvement. The integration with operations allowed for faster member service and resolution of issues. And reporting was significantly improved from standard reports that allow you to change the scope based on specific parameters to the ability to query the entire database with an easy-touse tool.”

To read more about LorMet Community FCU's success with Sharetec, click here or visit www.sharetec.com/case-studiessharetec.com/case-studies.