CoreTrac’s Customer Momentum Explodes in 2003:
A Bright Spot in Tech Market
Simple and affordable CRM solution for community banks and credit unions to propel growth of Austin company through 2004Austin, Texas—January 13, 2004—CoreTrac, Inc. (www.coretrac.com), a provider of browser-based customer relationship management (CRM) solutions for community financial institutions, today reported strong growth for year-end 2003, adding 16 new customers and increasing sales by 313 percent over 2002.
“Under today’s challenging economic conditions, the banking sector is increasingly competitive. Long-term customer retention and development of new revenue sources are critical, so community banks and credit unions need to maintain a personal touch while understanding and meeting their individual customers’ financial needs,” says Chris Ney, CEO of CoreTrac Inc. “ResourceOne is tailor-made to allow the entire community bank or credit union—from retail to loans to investments to insurance—to have a complete picture of the specific needs of their customers and the overall relationship. Our phenomenal growth is the result of fulfilling the strong need for a simple and affordable CRM designed specifically for financial institutions and the way they do business.”
In December 2003 alone, CoreTrac added five new customers. First California Bank, Mechanics Bank, and three independent banks owned by Texas First Financial Group all signed deals to implement CoreTrac’s ResourceOne (R1) solution. R1 is a browser-based CRM solution that allows community financial institutions to track leads and referrals; recommend products based on customer demographics; set employee goals and accurately measure performance; create institutional, branch and individual reports; and integrate multiple sources of data for a complete picture of the customer relationship.
“Texas First Bank's new strategic plan includes higher standards for customer management and, as a result, improved customer retention. ResourceOne will develop a single resource for our bank and insurance agency. It will provide more information in a single key stroke than we ever thought possible,” says Texas First Bank President Chris Doyle. “With superior customer information we can easily develop and work leads, track the progress and provide final results. It will help move our sales culture to the next level.”
Some of CoreTrac’s nationwide new or renewing banks and credit unions include:
- OmniBank (Houston, Texas)
- Credit Union of New Jersey (Ewing, New Jersey)
- NorthBay Bancorp (Napa, California)
- Pacific Western Bank, a subsidiary of Community Bancshares (Santa Fe Springs, California)
- Montecito Bank and Trust (Santa Barbara, California)
- Heartland Bank (Gahanna, Ohio)
- Member One Federal Credit Union (Roanoke, Virginia)
- The Savings Bank of Danbury (Danbury, Connecticut)
- First Northern Bank (Dixon, California)
- Cuyamaca Bank (Santee, California)
- Texas Gulf Bank, (Freeport, Texas)
- Village Bank & Trust (Lakeway, Texas)
As a result of its growth, the company has relocated to a new, larger headquarters in Austin, and has increased its number of employees by 40 percent in the last 12 months.
About CoreTrac
CoreTrac, Inc. is a privately held corporation headquartered in Austin, Texas. The company is dedicated exclusively to providing a simple and affordable Customer Relationship Management (CRM) solution to community financial institutions.
For More Information Contact:
Catherine A. DeStasio
Marketing & Corporate Communications
512-236-9120, ext. 200
cdestasio@coretrac.com