This past weekend, I got to watch my little brother graduate from college.  In addition to the shock that the little boy who used to dress up as a Ninja Turtle for weeks at a time was now officially a grown up, what I also felt was the excitement and happiness from the graduates who were reaping the feeling of accomplishment earned from four years of learning. 

In the credit union industry, we have the opportunity to continue the learning process, and reap the benefits of our own accomplishments each day.  In an industry where technology is constantly changing, staying up to date on what products members will be asking for is a must! 

From new ways to harness member data for your marketing efforts, to the new world of mobile everything, there is never a shortage of things to learn!  Luckily, there are also many learning opportunities to be found.  Be it from your state’s credit union league, or through trainings offered by technology companies, such as through Synergent’s Learning Center, I encourage you to put on your virtual cap and gown and get started!

D. Dionne
Communications & Marketing Specialist
Synergent

With National Credit Union Youth Week – “Be a Credit Union Super Saver,” quickly approaching, we come to you with Part 2 of what Gen Y is looking for, and how you can make them lifelong members.

Gen Y is on the move. This demographic has a different view on the workplace than their parents. According to the Pew Research Center, about 60% of Gen Y workers do not feel it is likely that they will stay with their current employer for the rest of their working life. Credit unions must expect members in this age group to come and go regularly, which may have a major impact on your membership. What is your credit union doing to attract new members? According to the Aite Research Group, in the next two years, 57% of credit unions will be placing a high priority on  mobile banking, 47% on online accounting opening and 45% on remote deposit capture.

Did Gen Y receive financial education in school? An article in USA Today last year indicated, the only 60% of Gen Y pays their monthly bills on time. Can your credit union offer free financial seminars on topics like applying for a car loan or how to live on a budget? Credit unions that provide such an education to Gen Y may find themselves with not only financially responsible members, but members more likely to stay around.

Now is the perfect time to start!  As mentioned earlier, April 22 -28 is National Credit Union Youth Week – “Be a Credit Union Super Saver.”  From volunteering at community financial fitness fairs to one-on-one communication with parents, this is an opportunity for credit unions to reach out to a new generation of credit union members.

Debra Trautman
Corporate Marketing Manager
Synergent

Diana Dionne
Communications & Marketing Specialist
Synergent

It’s no secret that for credit unions to grow, they need young, Gen Y members.  The good news?  Gen Y also needs credit unions!  In a financial industry that has left many, especially this demographic, jaded, credit unions provide not only a safe place for them to develop a financial relationship; they also offer guidance to help them along the way.  However, it takes more than promises of security, fewer and lower fees, and helpful staff to attract these young members.  In a special two part series, we’ll take a look about some Gen Y facts – and how credit unions can use them to make the connection! 

Gen Y users use technology and share. According to a recent report on GetSatistfaction.com, over half of Gen Y regularly shares information with friends, family and co-workers, about products they find interesting. Gen Y will talk about product and service experiences with an ever-widening group of friends. Not only must credit unions continue to do a good job of providing great member service, they must also learn to monitor relevant social media.

The smartphone is where it is. A report on NextWeb.com indicates over 20% of Gen Y who say they rarely otherwise go online say they do use their smartphone to access the internet. Low income households are even more likely to use their smartphone as their only means of online access. If your credit union doesn’t have a smartphone marketing plan in place now, it is time to look at one. Gen Y wants mobile-optimized versions of your website available!

Check back tomorrow for more ways to market to and connect with this important group of members!

Debra Trautman
Corporate Marketing Manager
Synergent

Diana Dionne
Communications & Marketing Specialist
Synergent

Credit unions are known for listening to their members, and giving them the tools they need to succeed.  That’s probably why credit union staff are always happy to share the stories of their members!  Credit unions also have stories to share – and each one is different.  That’s why with Synergent’s core processing solution is tailored to the credit union – not the other way around.

Credit unions using the Episys platform experience the service, support and superior technology that come with the Synergent partnership.  At the same time, Episys is flexible enough to fit a credit union’s unique members, community, sales culture, business philosophy and operations – to let each credit union tell their story their way.

Episys gives credit unions the freedom to think outside of the box – the flexibility also makes it easy to integrate with a wide range of third party solutions – including mobile banking, online account opening, cross selling tools and much more.  Synergent Direct Marketing Services also has the tools to help you better share your story with your members by using your member data to create targeted, customized communications! 

You know how to share your members’ success – isn’t it time to share yours?

Diana Dionne
Communications & Marketing Specialist
Synergent

It’s funny how the actions that can make us a success in preschool can also translate into the world of financial services.  Take the concept of sharing.  What our playmates valued in the handing over of a treasured toy, credit union members now value in the cooperative nature that is Shared Branching!  Here at Synergent, we’ve seen how much members appreciate and take advantage of this service, as Shared Branching transactions with Synergent credit unions soared in 2011, coming in at a record total of 1,219,361 transactions!

Listening to members, including Gen Y, reiterates the importance of this service.  This convenience factor is something that should not be overlooked when reaching out to younger members, many of which do not know about Shared Branching, but are thrilled when they discover it!

Networks like Shared Branching not only provide a great convenience for members, they also demonstrate what makes credit unions different – cooperation.  If preschoolers can do it, shouldn’t financial institutions be able to catch on as well? 

Diana Dionne
Communications & Marketing Specialist
Synergent

Synergent Check Processing & Support Services’ ATM Capture product offers cost savings to credit unions and convenience to members, and credit unions are taking notice!  Over the past two years, Synergent has implemented this product for nine credit unions, resulting in a total of 11 credit unions and 27 image enabled terminals offering this convenience! 

ATM Capture provides cost savings for staff removing deposits every day, as with image enabled ATMs, staff no longer has to remove check deposits daily.  The deposits are available within a matter of minutes for staff review and release for processing. There is also cost savings for remote ATMs, as credit unions no longer have to hire resources to empty remote ATMs daily.  These can now be handled when the cash is refilled, or even on a weekly basis.

Another time-saving benefit?  Lower lobby traffic!  Depending on the credit union, the deposits for ATMs are no longer a day delay as when members go through the teller line to make a deposit.  Some credit unions are reviewing the deposits as soon as they receive notification and posting the transaction.  This encourages members to use the ATM for deposits!

ATM Capture also helps with a quicker response time on issues, as the deposit is available for review as soon as it is inserted into the ATM, allowing for the credit unions to identify issues and contact the member sooner, preventing possible overdraft situations.

We provide options for credit unions on the ATM vendors and the processing of the deposits, and work with credit unions to find the best fit for them!  Contact us at cps_proj@synergentcorp.com for more information!

Dawn Paquet
Assistant Vice President
Synergent Check Processing & Support Services

When it comes to ensuring the growth of credit unions, now more than ever, the tools needed to achieve success extend far beyond the branch.  That’s why Synergent has been helping credit unions reach new heights to give members what they demand – better, more comprehensive access to their accounts. 

 One product that members are increasingly interested in is Mobile Banking.  Need persuasion?  Take a walk in a mall.  How many people are on cell phones while shopping?  Think how many could be checking their balance or making a transfer to make a “must have” purchase!  The easier you can make it for members to do so make it more likely they’ll turn to your credit union in the midst of these and other situations where it pays to have their financial institution at the ready.   

Synergent is also helping credit unions give members more than access to their money, with the additional ability to better manage it. Through the Jwaala MoneyTracker offering, internet banking goes beyond basics, allowing consumers to create customized monthly budgets, monitor and trend transactions, while maintaining a strong relationship with their finances.  It also features enhanced security, with built-in Multi-factor Analysis, and two-way secure messaging.

While credit unions work to stay competitive in a technologically advanced marketplace, with increased pressures associated with competing with other financial institutions, providing and promoting these enhanced offerings can be the key to continued credit union success!

Diana Dionne
Communications & Marketing Specialist
Synergent

Each holiday seems to have a unique marketing opportunity attached to it and Presidents’ Day is no exception. This is the time of year we start thinking about car sales and new auto lending campaigns! Traditionally, this is a great time for credit unions to promote auto loans to help make new car and refinance dreams a reality for their members, while attracting new members with unique offers that are more compelling than just another “great low rate”.  Synergent Direct Marketing Services and Technology Services understand that auto lending goes far beyond the month of February, and have been helping credit unions see auto loan growth with trackable results through target marketing with mined member data. 

Direct Marketing Services has successfully partnered with Technology Services and many credit unions to realize measurable results by leveraging data mining for well over a year now. We recently celebrated our 100th data-driven campaign in 2011, and we see a continuing desire to promote auto lending, which is an area where we have seen some of the most encouraging campaign response, results and return on investment (ROI)!

 This new marketing model provides measurable campaign ROI to credit unions, as leveraging member data drives better response rates than can be achieved in a mass media approach. We are currently using data as a vehicle to change the way credit unions think about making their marketing investments. The days of large mass media spends and ambiguity of effectiveness are numbered. Personalized, creative, highly-targeted marketing with measurable results quantifies each marketing success, leading way to ROI that was once thought of as unachievable by traditional marketing methods.

There are many unique strategies you can put into practice when working to craft an effective direct marketing campaign for your credit union. Start by marketing to your strongest base of engaged members, such as those who have a checking account with a significant balance and no auto loan with the credit union, or individuals who have recently paid off their auto loan or will be soon. Next look to prospect outside of membership by reaching new members and targeting demographics based on a geographic radius or those with a propensity to acquire auto loans through list procurement services.

Direct Marketing Services will track your campaign for you! Tracking elements help you measure the effectiveness of marketing. For example, connecting a tracable Unique URL Redirect to track and send members to a desired page on your website, and using Unique 800 Numbers to give members a call-to-action to respond, are great ways to track how many members are responding to a campaign. Other tracking methods that could be used are Quick Response (QR) Codes and Personalized URL Microsites. Tracking your results provides valuable information when evaluating the overall success of your campaign.  Additionally, include a clear call-to-action and highlight a strong incentive or offer. You want to encourage your members to act as well as spread awareness of why they should get their next auto loan with your credit union!

Happy Presidents’ Day! 

Doug MacDonald
Direct Marketing Services Manager
Synergent

As we begin this New Year, Synergent’s Business Continuity Services is focused on the maturing of this important service offering.  The goal of this effort is to mature the Synergent Business Continuity Program into a more holistic Operational Risk Program that includes Business Continuity and Vendor Management, and establishes an Operational Risk framework that will support the business operations of the entire organization.

New initiatives include the formation of a Technical Advisory Group as well as an Operational Risk Committee, which will work together to tackle current challenges and explore future opportunities.  Our goal is to take Synergent’s business continuity center from a recovery site to a true functional site.

Other projects include the transition from traditional tape back up to disc replication, as well as telecommunication infrastructure improvements to the Business Continuity Center environment, increasing bandwidth for credit unions and thus increasing the speed of recovery times. Also experiencing enhancements is the organization’s business continuity testing, which is growing in scope. We are transitioning from individual component testing to more comprehensive interdepartmental end-to-end exercises.

As we move forward, we continue to focus on providing practical and affordable solutions to credit unions and is available to help ensure credit unions are ready and able to serve members’ financial services needs when disaster strikes.  

Here’s to a “Continuously Great” 2012!

Bill Ashland
Director of Facilities and Business Continuity
Synergent Technology Services

While November’s “Bank Transfer Day” has come and gone, the spirit of the movement has the potential to create lasting results for credit unions.  Thanks in part to the message of the Occupy Wall Street movement; media coverage still highlights how bank customers continue to transfer their deposits from big banks to credit unions.

The message of the movement seemed to greatly resonate with consumers across the nation, who turned their frustration with fees, charges and being treated like a number into credit union membership!  While many the actual “occupiers” have been decamping, it is important for credit unions to keep the spirit alive, and continue to share why credit unions are the perfect option for these consumers.

A way to keep this blossoming of consumer awareness well, blossoming, is to continue to share everything credit unions have to offer – like Shared Branching, as well as what they don’t – like copious fees.  Looking for inspiration of why and how you can take advantage of the many opportunities for credit unions in this current economic and political climate?  CO-OP Shared Branching created a video especially for credit unions, demonstrating how they can keep this momentum alive.

Click here to view the video, and share it with your credit union colleagues!

Diana Dionne
Communications & Marketing Specialist
Synergent