Members 1st Federal Credit Union implemented CCH Tagetik's software solution for Budgeting and Planning, OpEx Planning, CapEx Planning and HR Planning.
Finance01 September, 2017
Members 1st Federal Credit Union
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.
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
Table title
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 |
Financial Close & Consolidation
Manage your financial close and consolidation with CCH Tagetik's software from local close to group consolidation to regulatory reporting and disclosure.
