Credit Union Data Processing Solutions (Select)

Product Solution Guide

System Overview

R. C. Olmstead first developed their core processing system in 1978. We have for over 30 years and will continue to enhance processes and functionality as well as service and support one of the most stable and reliable core system available to Credit Unions.

We use HP servers and operating systems, which provide stability, security, and reliability. As a result, our clients over the years have experienced continuous operation and we are pleased to say they all have maintained their organizations transaction history without consistent purging of data. Our hardware and technical support are augmented by dial-up, MPLS network, and VPN lines that connect us to our clients, allowing us to remotely monitor system performance, troubleshoot problems, and send regular system enhancements.

Our core system was designed and developed with the end user and their specific needs in mind. Many years of experience working with and listening to Credit Unions have led to the functionality found today in our original offering. Our core system is designed for the Credit Union looking to operate with a system built for reliability and accuracy in an uncomplicated and basic business manner. Additionally, providing you with the server hardware and the maintenance is part of your manageable monthly pricing.


Features & Functionality

Teller Functions

  • Automated end-of-day "count cash" screen
  • Automated "remove teller" and "transaction deletion" functions
  • Multi-session workstations

Electronic Transactions Processing

  • Debit and credit cards
  • Online electronic payroll deductions
  • Search ACH warehouse

Shares and Drafts Processing

  • Deposit check journal
  • Automated draft clearing
  • Overdraft protection

Certificates of Deposit and Retirement Accounts

  • Automated CD processing
  • 1098/1099-INT production
  • Integrated investment portfolio management
  • Tiered dividends

Loans Processing

  • Automated variable interest rate tables
  • Automated skip payment processing
  • Mortgage, home equity, student loan, escrow servicing
  • Online credit bureau history and retrieval
  • Custom fees/charges

General Ledger Processing

  • Multi-level G/L protection
  • Ten-year online G/L history
  • Complete share and loan charge-off processing

Operations Functions

  • In-house statement processing
  • Complete letter processing and tracking
  • Reprinting receipts and reports
  • Custom report generator
  • Data match processing

Audit Support

  • Regulatory agency reports
  • Change log and auditing reports
Screenshot of RCO Data Processing System

Optional Services

R.C. Olmstead’s selection of optional services and interfaces are a combination of RCO developed products and the best third party providers in the industry

  • Asset Liability Management
  • Audio Response
  • Cash Dispenser Interface
  • Credit Card Interface
  • RCO Home Banking
  • Dual Authentication
  • Integrated Laser Forms
  • RCO Imaging
  • Real-time ATM/Debit Interface
  • Shared Branching Support
  • Advanced Collections Package
  • RCO Relationship Pricing Module
  • Third-party statement processing interfaces

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Contact R.C. Olmstead Today

This is our original Credit Union Data Processing System that we continue to support. If you are interested in this solution, please contact us.

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