Tricorp Federal Credit Union Signs Service Agreement with LT for Private Correspondent Gateway
Contact: Tracy Hearson
Wichita, Kansas – January 25, 2012 – Tricorp Federal Credit Union based in Westbrook, ME announced today that it has entered into an agreement with LendingTools.com (LT), the leading third party provider of correspondent financial solutions, to deploy LT’s Private Correspondent Gateway to member credit unions.
Tricorp’s addition underscores a trend in Corporate Credit Unions looking to LT to provide a replacement to U.S. Central Bridge’s APEX ACH platform. LT has been providing ACH and other transaction, reporting and settlement technology services to correspondent institutions for more than a decade.
“We serve a very specialized market that few vendors understand,” said Steve Roy, President and CEO of Tricorp Federal Credit Union. “LT not only understands our unique needs, they have the vast experience and specialized technology required to help us provide quality financial services to our member credit unions.” Roy also cited LT’s ability to integrate biometric authentication into their secure platform as an added feature, providing member CUs with enhanced security.
“We view serving corporate credit unions as a natural extension of our exclusive focus on bringing innovative online solutions to correspondent operations,” said Eric Goering, CEO, Lendingtools.com. “This new relationship with Tricorp is evidence of our continued commitment to serve correspondent institutions with efficient technology that enables them to continue to provide a high quality of service to their member CUs. We are pleased to be working with Tricorp.”
Tricorp will also have the ability to offer member CUs with their own branded cash management systems to business members (SEGs) through the partnership with LT. This will enable member CUs to easily provide their business members with cost-effective ACH services that seamlessly integrate into Tricorp’s Private Correspondent Gateway for processing.
Headquartered in Wichita, KS, LT specializes in the design, delivery and integration of web-based applications for correspondent financial institutions and their respective customer base. Over 20,000 users from more than 3,000 financial institutions utilize LT services on a daily basis. LT is SSAE16 (formerly SAS 70 Type II) Certified and is regulated and examined under FFIEC guidelines as a Technology Service Provider. LT is a privately-held, Kansas Corporation. Please visit www.LendingTools.com for more information.
About Tricorp Federal Credit Union:
Chartered in 1975, Tricorp FCU serves only credit unions and has no other business that is more important. The mission of Tricorp FCU is “to provide quality financial products and services to meet the needs of its credit union members, while maintaining a strong financial position.” Based in Westbrook, ME, Tricorp enjoys a national field of membership. For more information, visit www.tricorp.org.