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We have been very pleased with the new ODP Manager. Not only is it easier to use than the previous software, it has also been a huge plus to have Strunk host the solution, which takes that responsibility off of our bank and has allowed them to deliver regular updates seamlessly.
We had looked at other discretionary overdraft payment programs but decided on Strunk. We liked Strunk mostly because of their expertise in compliance. We knew we were well covered. They understood everything in terms of regulatory issues surrounding overdraft privilege. The members love it!
Overdraft privilege has been very well received by our customers and have received a number of complements on the program. Strunk was instrumental in training, explaining the program, implementation, covering opt in and proper methods of notification. They also provided forms, letters, policy documentation and all other necessary material. Strunk did everything we needed to get us up and running.
It is very important to us to implement an overdraft program that is compliant with all current regulations. We are pleased with Strunk’s emphasis in the area of compliance. In fact, Strunk conducted on-site educational sessions on all aspects of their program with our entire staff so they were up to speed before we launched. We’ve received excellent feedback from our members and it’s been very positive in terms of our organization’s bottom line.
We looked at three outsourced providers of overdraft payment programs. First we looked at the software they provided which is an important consideration for us. We liked what Strunk had to offer. It fit our bank. We also were very impressed with their compliance expertise and their understanding of regulatory and legal issues.
Our policy and control structure is very complex having both a broker/dealer and an investment advisory firm. Policy Manager allows us to easily organize a large volume of policies and maintain our control testing documentation all in one convenient place—a significant improvement over our previous process!
Overall, partnering with Strunk has been a win-win situation for us and our members. The implementation went smoothly, and the software has been problem-free. Our overdraft privilege service has enhanced our fees. Strunk made some conservative projections regarding income and the program exceeded those projections as well as our expectations.
I have enjoyed working with everyone at Strunk. Strunk offers a very valuable product and not only is it an income producer for the bank, it is a great service for the account holder. I have been a proponent of this product since it was first introduced to me 15 years ago.
Our members love Overdraft Privilege. It’s just a great service in every way and we would certainly recommend it to any other credit union looking to expand its service offerings.
The program has become a popular service for our customers. They look at it as a product with tremendous value and the overdraft fee has not been a major concern. One of the things that our management was impressed with was the way Strunk paid attention to detail with the regulatory environment, keeping abreast of changes, submitting regulatory updates. The company did everything they promised and kept our program in compliance.
So often I’ve experienced vendors who are skilled at front-end sales then hand it off to their implementation crew and they fall very short in delivering what the sales people promise. That’s not the case with Strunk. They worked well with our team and they are professional. When I buy into a program, I’m putting myself on the line. In Strunk’s case, they did everything they said they would do.
We adopted Strunk’s Policy Manager to centralize all policies and the related policy management functions into one system. Everything is in one standard format, policy ownership and access is assigned and policy edits, approvals, employee and board review schedules are managed from one location. Strunk was easy to work with throughout the project and was very open to adding enhancements to their program, adding value to our policy process.
When I was Chief Risk Officer at a $750M bank, we implemented Strunk’s ERM Solution. It brought together all areas of the risk assessment process into one easy to use format and we eliminated the Excel spreadsheets. I highly recommend it for any size bank.
Strunk’s implementation of Risk Manager was excellent. Impressive software you all have developed.
Strunk’s Risk Manager program is a great product that makes the risk assessment process easy to manage and is proving to be very helpful to us.
Risk Assessments can be a challenge for many community banks. Strunk’s program brings efficiency to the process and allows us to focus on areas of high risk. Our team sees great value in the process and reporting generated by the Strunk program. It is an affordable way to manage regulatory required risk assessments rather than using excel spreadsheets from each area of the bank.
Sterling Bank has partnered with Strunk for the ODP Manager program since 2005. The ODP Manager software has been a tremendous pivotal asset in our successful overdraft program.