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Click on the year to reference news.
December 20, 2004 Me-dian Credit Union (MB) selects the Technicost LOS to process consumer loans for their members
December 17, 2004 Community Savings and Credit Union (ON) is now in production on the Technicost LOS
Community Savings and Credit Union of Ontario, has completed the implementation of the Technicost LOS for consumer loans. "We are pleased at the integration capabilities of the LOS to our CGI banking system, as it really meets with our objective of one time information keying. We are further impressed with the speed in which the Technicost loans origination system was put in place. In less than 6 weeks, we were operational and are now ready for the increased consumer loan volumes of the RRSP season" Ajai Kudari, Manager of Info Systems, Community Savings and Credit Union.
December 15, 2004 The Technicost LOS now supports the iDecision service from Equifax Canada
The iDecision service from Equifax Canada is now available as an automated electronic transfer initiated by a lender from within the LOS. The iDecision service provides the management of the lending organization with a highly flexible environment to strategize decisions based on the financial position of the applicant and the specific loan application details, Applicant information is automatically submitted to Equifax iDecision by the Technicost LOS and a recommendation/decision is available in moments. "We were impressed with the speed and professionalism demonstrated by Technicost in the integration of the iDecision service", says Karel Volenik, Assistant Vice-President, Technology Solutions at Equifax Canada. "We look forward to enhancing our already proven Equifax solutions to our credit union clients, with this world class and most cost effective automation".
December 13, 2004 Espanola and District Credit Union (ON) is now in production on the Technicost LOS
Espanola and District Credit Union of Ontario, has completed the implementation of the Technicost LOS. "We are pleased at the integration capabilities of the LOS to our CGI banking system, as it really meets with our objective of one time information keying. We are further impressed with the speed in which the Technicost loans origination system was put in place. In less than 6 weeks, we were operational and are now ready for the increased consumer loan volumes of the RRSP season" Ajai Kudari, Manager of Info Systems, Community Savings and Credit Union.
December 13, 2004 New LOS client, Your Credit Union (ON) CGI RFS banking.
Your Credit Union of Ontario has selected the Technicost LOS as a complimentary solution to their CGI RFSNT banking system. "We were first exposed to the Technicost LOS by the merger of the Howard Smith Credit Union, which was already using the LOS. We were impressed with efficiencies of the credit department of the Howard Smith branches. We nevertheless performed our due diligence and reviewed in detail all of the available LOS solutions before selecting the software provider which will assist us in automating our other branches. We selected the Technicost LOS because it provides all of the functionality that we require to optimize our operations over the 14 branches, provides a lender friendly environment and the best price performance ratio as well as seamless integration to our creditor insurance and banking solution. We look forward to implementing the solution and to be operational in the 1st quarter of 2005. Laurier Guimond, Operations Manager, Your Credit Union.
December 7, 2004 New LOS client, Mennonite Savings and Credit Union (MScu) (ON) CGI RFS banking.
Mennonite Savings and Credit Union (Ontario) Limited has selected the Technicost Loans Origination System (LOS) as a complimentary solution to their CGI RFSNT banking system. According to MSCU Controller Michael Fewkes, "When we first saw the LOS in a CUSA presentation in July, we were impressed with the functionality of the system and the potential that it offered. We formed a committee of potential key users to review our internal business needs and assess Technicost LOS among other available LOS programs. After many product reviews and client visits, we determined that Technicost would meet our functionality and cost requirements over the next 5 years. Operations Manager John Klassen confirmed Technicost as the LOS supplier of choice for the Credit Union. "We feel that the Technicost LOS solution will allow us to capitalize on our existing IT infrastructure and help us to optimize our loans origination process." said Klassen. According to Max Bentz, Manager of Personal Lending, "The ease of use of Technicost LOS, and its built-in lending process, will assist our lending and management team in standardizing our credit origination process. We feel that Technicost LOS will meet all of our requirements".
October 21, 2004 New LOS client, Northridge Savings and Credit Union (ON) CGI RFS banking.
Northridge Savings and Credit Union of Ontario, has selected the Technicost LOS as a complimentary solution to their CGI RFSNT banking system
October 19, 2004 New LOS client, Community Savings and Credit Union (ON) CGI RFS banking.
Community Savings and Credit Union of Ontario, has selected the Technicost LOS as a complimentary solution to their CGI RFSNT banking system
October 1, 2004 Technicost announces LOS 5.50
Technicost LOS Version 5.50 will be available November 15, 2004. This new version of Technicost LOS includes an improved interface with CMHC's Emili mortgage insurance tool, new connectivity functions to GE Capital for mortgage insurance and First Canadian Title for vehicle registration. Technicost has also integrated Equifax's auto decisioning tool, iDecision, into its loan creation system, further streamlining the loan approval process. New types of loan calculations are also introduced; Fixed payments and Accelerated payments.
September 28, 2004 New LOS client, Squamish Credit Union (BC).
Squamish Credit Union (BC), adopts the Technicost LOS with integrated IAP creditor insurance.
September 15, 2004 Lyle Skelton joins the Technicost team.
Yvan Trepanier is pleased to welcome Lyle Skelton to the Technicost team. Lyle has extensive sales, operational and strategic experience within the Canadian Credit Union system. Lyle's strong credit union and financial background will continue to enhance the Technicost commitment to provide a world class loans origination system for the credit union market place. Lyle will be servicing the Western Canadian market place. Lyle can be reached at (250) 487-2192 or (800) 990-9259 ext 234 or email: lyles@technicost.com.
June 28, 2004 New LOS client, Mount Lehman Credit Union, Smart banking client with the IAP creditor insurance
Mount Lehman Credit Union (BC), adopts the Technicost LOS with integrated IAP creditor insurance. Mount. Lehman is an innovative and dynamic credit union and was the catalyst in the new partnership between Technicost and IAP Life. Mount-Lehman is looking to provide an innovative approach to lending and membership servicing. Gene Blishen, General Manager of Mount. Lehman is quoted as saying"We at Mount Lehman pride ourselves on innovation. The Technicost LOS was an affordable LOS solution which allowed us to capitalize on our in-house centralized IT infrastructure. Our integrated solution will provide many benefits to our membership. Working with our Smart Solution banking system, we will append the Technicost LOS information to provide a data warehouse and launch a whole new series of innovative tools to improve our member servicing."
June 10, 2004 Technicost now supports the Industrial Alliance Pacific Life (IAP) creditor insurance package.
The creditor insurance package from IAP is now integrated into the Technicost loans origination system ( LOS ), to support Single Premium, Monthly Premium, Group Mortgage and Line of Credit insurance products. "We are pleased at the speed and professionalism of the Technicost team in integrating our creditor insurance products within their loans origination system. We are happy to be working with Technicost in bringing a first class loans origination system and creditor insurance package to the Canadian credit unions." Mike Leach, Industrial Alliance Pacific Life.
May 7, 2004 New LOS client, Espanola Credit Union (CGI RFS banking)
Espanola Credit Union (CGI RFS banking client) selects the Technicost LOS as their primary lending toolset. Ben Theriault, General Manager at Espanola cu is quoted "We have chosen the Technicost LOS, because of the ease-of-use and strong interface between the LOS and the CGI RFS banking system. We are looking forward to implementing a centralized solution of the LOS for all three branches of our credit union and providing our members, staff and management with up to date functionality for credit approval". The solution will be implemented in the fall of 2004.
March 13, 2004 Secure Finance chooses Technicost Loan Management System
Technicost is proud to announce a new installation of its Syndicated Loan Management System (LMS). Secure Finance, a Montreal-based lender is now managing its loan portfolio with Technicost LMS.
January 22, 2004 Desjardins Credit Union adopts Technicost WebLOS tool
All Desjardins Credit Union branches have access to the Technicost WebLOS tool. All loan applications are now transferred to DCU Central Lending Processing Unit for rapid credit analysis and adjudication.
To find out more about Technicost's offering and services, call 1-800-990-9259.
