A Conversation with Tower Federal Credit Union: Achieving a 2-Day Financial Close with Trintech

Before Trintech: Over 1,000 Balance Sheet Accounts Reconciled Manually

Q: Cheryl, can you introduce yourself and describe Tower Federal Credit Union’s environment before automation?

A: My name is Cheryl Titzer, and I’m the Vice President of Accounting at Tower Federal Credit Union. It’s the largest federal credit union in the state of Maryland, and we serve the National Security Agency and their family members.

Before automation, we had over 1,000 balance sheet accounts, and every single reconciliation was done manually in Excel. We pulled data from multiple core systems—shares, loans, and the general ledger—which made reconciliation incredibly complex and time-consuming. Reconciling that many accounts and transactions manually was a daunting task. At one point, when we first learned about automated reconciliation, I was ready to move immediately—though there were understandable concerns about what automation would mean for our team.

The Moment Automation Became Non-Negotiable

Q: What ultimately pushed Tower Federal Union to move forward with automation?

A: As Tower Federal Credit Union continued to grow, it became clear that our existing processes weren’t sustainable.

At one point, we had an ambassador visit the accounting department to understand what we do. After watching us reconcile the Federal Reserve account, she joked that it looked like all we did was “color all day” because we were checking and tying transactions manually. That really put things into perspective. We weren’t adding value by matching transactions—we needed to automate so our team could focus on real issues.

Implementation Journey: From Slow Start to Rapid Automation

Q: How did the implementation process unfold?

A: We began our automation journey in mid-2020, initially moving slowly. We worked with our implementation manager, but then COVID hit, and everything went virtual.

At the same time, we were undergoing a core system transformation, which made it clear this was the right moment to accelerate automation rather than delay it. We partnered with our core provider to automate our first five key accounts. After that, we continued expanding automation on our own. Since moving fully to Trintech, the process has been extremely positive.

Quantified ROI: Operating More Efficiently with a Leaner Team – Without Sacrificing Accuracy

Q: What has been the most significant return on investment?

A: The biggest ROI is very clear.

Before Trintech, our accounting department had nine full-time employees. Today, we operate with four FTEs and one AVP—a 50% reduction in staffing. The team we have now fully embraces technology. We’re not afraid of automation—in fact, our goal is to automate everything in accounting. Trintech will continue to play a major role in that strategy.

Faster Close and Work-Life Balance Restored

Q: How has automation changed your financial close process and daily life?

A: We now close our books in two days—sometimes three.

There’s no more staying late past 8:00 p.m. just to meet close deadlines. I can close my computer, go home, and spend time with my horse. My team can go home and be with their families. That work-life balance is incredibly important to Tower Federal Credit Union as an organization.

Partnership with Trintech: Personal, Collaborative, and Invested

Q: How would you describe your relationship with Trintech?

A: The Trintech team members are knowledgeable, collaborative, and genuinely supportive of one another. What stands out most is that Trintech employees feel like they truly care about us. It’s personal. It’s not just a vendor relationship – we value connection.

Change Management Advice: Automation Empowers People

Q: What advice would you give organizations hesitant to automate?

A: People are often afraid automation will take jobs away or create “lazy accountants.” But that’s not what happens at all.

With the right change management, you show your team that automation frees them up to focus on solving problems instead of matching transactions that should already match automatically. My advice? Go for it. Don’t let fear stop you.