RCO Company History

From beginning to present...

In 1978, our founder, Bob Olmstead, used his background in engineering to launch a new core data processing system for Credit Unions. Bob was contracted by Glassco Federal Credit Union to develop a proprietary data processing system to serve their members.

Robert C. Olmstead, Founder & Chairman
It was a new and exciting venue for Bob and he met the challenge with same zest he maintains today as Chairman of the Board for RCO. Once the Glassco system was installed and had proven its value, word began to spread about this new, advanced system for Credit Union management. One by one, Credit Unions and new employees became part of the R.C. Olmstead family.

As the client base and the company became more successful, Bob made it very clear that the values with which the company began would not be forgotten for the sake of growth. He made it clear to employees and clients that RCO would:
  • Develop and sell the most dependable processing system in the business.
  • Make, and reaffirm on a regular basis, a commitment to support and service the client, above all else.
  • Be staffed by a committed team who will work side-by-side with clients to ensure the RCO offerings are meeting their needs.

In 2009, RCO determined it was time to expand our vision and seek a partner with a technologically advanced product to better service clients seeking expanded features and functionality. We sought experienced Credit Union core product developers who already had the tools Credit Unions could use to better connect with their memberships in a variety of ways not yet developed on the original RCO product.

It was an exhausting search as the main goal was to find someone who grew their organization using the same values Bob had defined for RCO some 30 years ago. In March of 2011, the search had ended and RCO entered into a partnership with Commercial Business Systems. We are very pleased to now be a partner with one of the finest core data processing systems a Credit Union can find on the market today, priced with value in mind.

The history and dedication to clients and the Credit Union industry continues in full stride for RCO as we continue to support our client’s use of the RCO system, as well as those clients who choose to add functionality with the CAMS-ii system. The next chapter in our history will feature new clients seeking to utilize one of our product offerings.

We look forward to the opportunity to discuss how we can be your core processor.