SOURCE: LendingTools.com

LendingTools.com

March 06, 2012 09:00 ET

Louisiana Corporate Credit Union Chooses LT for Correspondent Services

WICHITA, KS--(Marketwire - Mar 6, 2012) - LT, the leading provider of third-party correspondent financial services, announced today that they have entered into an agreement with Louisiana Corporate Credit Union (LaCorp) of Metairie, LA, to replace LaCorp's current APEX ACH system with LT's Private Correspondent Gateway.

With LT technology LaCorp will transition their member CUs to a custom single sign-on portal that will not only meet their immediate ACH needs but will also enable them to consolidate and expand their service offerings in the future. The entire solution will be secured by LTs advanced biometric multi-factor authentication system. LaCorp cited LT's enhanced service set combined with their experience and ability to move quickly as key reasons to choose their system.

"It was important for us to find a vendor with the experience and technology to help us continue providing high quality operational services to our member credit unions," said David Savoie, President and CEO of LaCorp. "LT has a proven track record for providing specialized technology to correspondent institutions and can do so in a time frame that meets our needs." Savoie also cited LT's recent success with other Corporate Credit Union deployments as added comfort in their decision process.

"We are fortunate to have the opportunity to expand our vast service set into the Corporate Credit Union world," said Eric Goering, CEO of LT. "We have dedicated our efforts on creating powerful and efficient technology for correspondent institutions over the past twelve years. This same technology is now being deployed to several Corporates like LaCorp who are subsequently able to cost effectively satisfy the needs of their members without sacrificing quality of service. We are looking forward to working with the dedicated staff at LaCorp as they deploy the Private Correspondent Gateway to their member credit unions."

An added service from LT will give LaCorp the ability to provide member CUs with their own branded LT cash management systems to business members (SEGs) through the relationship with LT. This allows member CUs to easily provide their business members with cost-effective ACH services that will seamlessly integrate into LaCorp's Private Correspondent Gateway for processing.

About LT
Headquartered in Wichita, KS, LT is the largest third-party provider of inter-bank transaction and reporting systems outside the Federal Reserve serving thousands of institutions nationwide. LT demonstrates strength, vision and reliability in serving correspondent financial institutions and their respective user bases. A privately held corporation, LT was founded by and is operated by financial service industry professionals. Please visit www.LendingTools.com for more information.

About Louisiana Corporate Credit Union
Louisiana Corporate offers a wide range of investment, liquidity, and correspondent financial services. Located in Metairie, La., LaCorp serves the investment, correspondent, and liquidity needs of more than 150 credit unions. The corporate was founded in 1984, and is a service-oriented financial partner for credit unions in Louisiana and other surrounding areas. For more information, visit www.lacorp.com.

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