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Members 1st Federal Credit Union

Members 1st Federal Credit Union implemented CCH Tagetik's software solution for Budgeting and Planning, OpEx Planning, CapEx Planning and HR Planning.

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The Challenge

Members 1st Federal Credit Union (“Members 1st”) is a member-owned financial institution providing members with products and services including investments, loans, banking services, insurance services, and more. Headquartered in Mechanicsburg, PA, Members 1st has over 60 locations throughout Central Pennsylvania. Members 1st has grown its membership to over 445,000 with assets of more than 5 billion dollars.

In 2018 Members 1st was looking for a planning solution system providing them with a streamlined and robust planning/reporting tool.

CCH Tagetik Solution

In 2018 Members 1st identified CCH Tagetik as the best product to answer their needs for the planning process. CCH Tagetik supports Members 1st throughout the entire planning process with several business modules, such as Interest/Non-Interest Income & Expense module, OpEx planning by line item details, CapEx and HR planning modules.

Benefits

Flexibility

Important and timely budget adjustments on the fly

Scalability

Able to meet current needs and long term goals

Excellent support during implementation

CCH Tagetik consulting team transfer knowledge and implement numerous efficiencies in the processes

Reduce report building time

Utilize a system reporting feature to run, publish, and distribute monthly reports to all levels of management with the click of a button

Mitigate risk during Covid-19 crisis

Important and timely budget adjustments with an ETL

Enhance analytical capabilities

Reporting at the C-Suite level, as well as, across all levels of management with the capability to drill-down into the lowest level elements within each entity

Customer Quote

The HR planning module has allowed us to plan, report, and analyze compensation and benefit items down to the associate level (lowest level), which has drastically reduced our month end variance research and reporting time.

Brian Strohecker - Budget & AP Manager, Members 1st