Posted on Mon, Mar 01, 2010 @ 04:51 PM
Go Green! Protect the Environment & Your Bottom Line |Live on Thursday, March 11th at 2:00 PM EDT | 11:00 AM PDT
Upcoming Live Event On-Demand Sponsored by OMI:
Just a few short years ago, the buzz was all about "going green." Then the bottom fell out of the economy, and everyone's focus shifted to "saving green." But the two concepts are not mutually exclusive. In fact, this shift in our collective consciousness offers credit unions not only an opportunity to adopt more sustainable and responsible practices but to expand their business to meet these changing consumer demands.
From electronic statements to wind/solar power offices, financial institutions are meeting the needs of a constituency with increasing awareness and concern about the environment. In many cases, these practices and investments can yield immediate and long-term savings for the organization. Some can actually help add to your bottom line.
Join us for this CUtv event which covers several areas in further greening of your business, including:
Sans Paper: No longer is it necessary to kill a forest each month to provide monthly account statements. Nor is it necessary to turn over your paper money . . . for more paper.
Transportation: Have you switched your lending marketing focus to attract more "hybrid" auto loans? Or perhaps you can join the growing number of credit unions who are meeting their demand for bicycle loans.
Green Architecture: The public is increasingly more aware of and more demanding of their retail and service partners to be at the forefront in energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and sustainable resources.
Green Architecture, Part 2: Many homebuilders are leading with environmental benefits. Consumers are looking for houses that both fiscally and environmentally responsible -- and lenders to with similar values to partner with them.
Remote Deposit Capture: Another tool to help consumers save time, money, and gas with fewer trips to deposit checks -- allowing staff to concentrate on areas of customer service that require face-to-face attention.
Posted on Wed, Sep 09, 2009 @ 07:58 AM
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"Electronic statements offer us a lot more flexibility and ability...and there is no drawback in terms of the fact that members receive the same statement that they would have on paper." Carmelo Roldan -Vice President Information Technology |
Nutmeg State Federal Credit Union uses Statement2Web to transition from paper statements to 21st century electronic communications
Nutmeg State Federal Credit Union (NSFCU) has a long history of financial service and innovation. This Connecticut-based credit union was originally started in 1935 by employees of Southern New England Telephone which is now part of AT&T. Even in the best of times, credit unions must steadily grow membership to survive, and over the years NSFCU has continually expanded its scope and services. In addition to opening its doors to AT&T, NSFCU also serves over 215 select employee groups, and the communities in and around Hartford County.
NSFCU was founded on the simple premise: "dividends in fellowship." Indeed, in order to join, members purchase a five dollar "share" and become part owner; each with an equal vote for the board of directors. This tradition must be working, because nearly seventy five years later the credit union continues exceed the expectations of its members.
Less Paper, More Service
You would think a financial institution with such a long history would be buried under stacks of paper, but just the opposite is true. NSFCU has recently begun to eliminate paper by offering electronic statements to its members. Once they opt-in to e-statements, members are given access to a fully customized portal where they can view, download, and print their statements, and peruse a complete history of their activities and transactions.
According to Carmelo Roldan, NSFCU's Vice President of Information Technology, the move to electronic statements has not only helped to reduce the printing and mailing costs associated with members statements, but it has also enhanced the level of service the credit union can offer while retaining the integrity of the original printed version. "Electronic statements offer us a lot more flexibility and ability," says Carmelo, "and there is no drawback since members receive the same statement that they would have on paper."
Electronic Statements - a Managed Service
NSFCU's transition to electronic statements was made possible through the use of Statement2Web from OMI. Statement2Web is a managed service available through the credit union's print/mail provider, Harland Clarke Marketing Services. As a result, the credit union was able to implement e-statements without a lengthy development time. "We send an electronic copy of our statement file to Harland Clarke and they send that same file to Statement2Web," explains Carmelo. "The system then creates both a PDF version and an HTML version. Members can view and print the actual version of the statement through a web portal just as if they had they received it on paper."
While NSFCU has been making use of Statement2Web since 2006, they recently began to take advantage of the expanded capabilities available in the new version of the service. "It has been a dramatic change for us," says Carmelo. "We now have the ability to add electronic inserts, add statements, and an electronic newsletter. These were all capabilities that we did not have before with the older version."
NSFCU relies on Statement2Web to enable their strategy to transition from paper based communications to online presentment where it makes sense. The credit union has enhanced the experience of members and reduced the cost of printing and mailing. "We are definitely sending out less paper," says Carmelo. "And as we continue to offer additional electronic statements - like our mortgage statements or our billing notices - we are definitely going to see those costs drop."