Success Stories


High Touch, Direct Service, Drive Rapid Growth at Westfield Bank

Direct banking models are demonstrating their value in the marketplace for financial services. Based on online and remote banking technologies, direct banks often find their costs are lower and their customers better served. COCC continues to expand these important product and service areas as more clients adopt the direct banking model.

Our greatest opportunities often come from careful observation. At Westfield Bank, we noticed that our customers preferred to use an ATM even while the branch or drive-up window were open. That observation has shaped the way we serve our customers in profound ways.

We backed away from the traditional strategy of building an extensive branch office network. Instead, we used our technology partnership with COCC to focus on serving customers online. As more companies and consumers began to transact business over the Internet, our bank reaped the rewards with high growth and low overhead. COCC was with us every step of the way.

Our strategy really gained traction when remote deposit technology was introduced. Today, we receive 63% of our checks via remote deposit, which is a major factor in the bank’s high efficiency. We also saw our commercial deposits increase from $63 million in 2006 to $182 million in 2008, a gain of nearly 200 percent over two years.