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

It turns out that when it comes to technology, efficiency is king! This is according to a recent survey sited by CUNA Strategic Services. In the survey of more than 450 senior credit union executives, it found that credit unions expect technologies to drive efficiencies. This is an expectation that Synergent strives to not only meet, but exceed! Here’s some of the ways we make efficiencies essential!

Works Well With Others
Synergent provides an open environment that allows for easy and thorough integration of desired third party solutions and services, and experienced staff that can make solutions fit your credit union. These efficiencies began with extensive training, raising the staff skill level. Every single credit union employee received hands-on training, and learned many new things about their core, including tricks and tips to how to utilize all Episys has to offer.

Get Automated!
Automations not only help credit unions save time and resources, they are also a great example of the value of the service bureau. These efficiencies can include automatic posting/reversal of loan interest and accrued income, report automation, automated file movement and file refresh, IRS distribution records, and batch posting automation.

In Good Form
Our extensive collection of member-friendly SymForms provide support both with what is available to choose from, and what can be made just for you! We have a standard Symform package, but can also update forms credit unions already have, or create new ones.

Power Up!
Also unique to Synergent users are “PowerOns,” programming that allows staff to meet members’ needs and inquiries faster and more efficiently through reports and screenshots, without having to exit out of their core processing platform.

These are just some of the ways that we take efficiencies to the max!

Paul Leblond
Sales Support Specialist
Synergent Technology Services

If you’re a credit union marketer, the answer is probably too many to count.  As someone who works to support credit union marketers, I see that from an artist’s beret for design work, to a construction hard hat for some heavy duty problem solving, they wear, and do, it all!

In my job, there’s nothing that makes me happier than to take on these hats, and the challenges they present for our credit union partners.  From putting on a thinking cap for a marathon brainstorming session, to a director’s hat to see a project, be it a newsletter or a web banner, from start to finish, having Synergent wear your team’s hat means support that is sure to lighten the load!

So lose the extra hats.  Accessorize with Synergent Service.  It will feel better than a new pair of shoes!

Shannan Heacock

Marketing Services Representative

Synergent

It’s nice to have a say in things. And while hopefully a credit union staffer’s opinion is heard and valued in their own organization, there is often not the opportunity to let these thoughts resonate on a greater level, with the companies that provide the many products and services credit unions use to keep their organizations running.

That’s where the Synergent and Symitar partnership comes in. A unique benefit of coming on to Symitar’s Episys core processing platform is the ability to both submit and vote on core processing enhancements! Each year, credit unions on the platform are able to submit up to three requests for core Episys enhancements, and then can vote on their favorites from all those submitted nationwide!

Once the voted-on enhancements become a reality, Synergent is there to provide the ongoing training credit unions need to fully understand and optimize these ongoing system enhancements. How’s that for full-circle collaboration?

Nick Chasse
Director of Sales Support
Synergent

If you have financial success as one of your New Year’s Resolutions, there is a plethora of news to point you in the right direction. And, credit unions are mentioned in most online resources, and there has been good news for credit unions just all around!

This past week on the CUNA News Now website: “At the risk of sounding like a broken record, credit unions again topped banks in a customer experience study,” was a lead story.

The study, the 2011 Northeast U.S. Bank & Credit Union Customer Experience Survey, was recently released by Prime Performance. Credit unions were the overall customer experience leader with their Prime Experience Index of 79%, well ahead of the overall bank average of 59%, with small banks, those with less than 100 branches, scoring 75%,” said the company’s press release. The index measured satisfaction with service, likely to recommend the institution to others, likely to use additional products or services and how effective the financial institution was at meeting financial needs.

The study surveyed 4,934 bank customers and credit union members in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, which includes several states Synergent has partnerships with credit unions.

As a credit union service organization owned by credit unions, my co-workers and I often chat here at Synergent that credit unions have always been a best kept secret. We have known credit unions put their members’ interests first because we work with credit union staff every day – servicing their technology, cards and checks processing and targeted marketing services. Now, others are taking notice of the service they provide to consumers.

One of my favorite starts to the year as a marketer for the credit union industry, was when I received my Consumer Reports magazine at home last week. The February issue cover story was “Fight Back Against Your Bank”.  It was not so much about how to go to war. It was a great article about fees … and how they’re are not going away, why this is happening and a comparison of fees. It gave solid information for consumers – should you stay or switch financial institutions? Credit unions have always remained a financial option for consumers … a lot people just didn’t know it. Now, the credit union name is getting more face time or press coverage.

One headline in the article stood out at me – “Credit unions…charge consumers less, our data shows.” While the general mass media are promoting our benefits, credit unions must continue to use their member “data” and market to their members. It’s a good time to be credit union. Join the band wagon and continue the story with your members.

D Trautman
Corporate Marketing Manager

With all the excitement and news coverage of Bank Transfer Day behind us, keeping the positive momentum going can be difficult, particularly with the holiday season winding down. As we look ahead to 2012, it is important to reflect on, and make sure members are aware of, the many ways they benefit from their credit union membership. One of the best member services to share? Shared Branching!

Shared Branching truly is the ultimate member service, demonstrating the cooperation between credit unions which cannot be seen with other financial institutions. Shared Branching gives credit unions pretty impressive bragging rights, with a network that is fourth in the nation in terms of branch networks, behind only Bank of America, Chase and Wells Fargo. Not only is it convenient, and can help members avoid ATM and other fees in a still recovering economy, it also lets members take personalized CU Service with them wherever they go! So many reasons to add “Talking up Shared Branching” to your New Year’s Resolutions list!

D. Dionne
Communications & Marketing Specialist
Synergent

The holiday season is here, and this year it appears that national spending has increased over last year. But with increased shopping comes an increased risk of card fraud. And while fraud increases in general during the holiday season, credit unions and their members need to be aware of face-to-face fraud that is committed with a fraudulent plastic. This is always a concern due to the risk of greater losses on skimmed or fake debit and credit cards, compared to internet fraud that can be easier to dispute and recover.

In Synergent’s Card Services division, we offer fraud services to help our credit unions educate their members about the risk of card fraud and remind them that phishing scams are still a very large threat. There have been several instances with what is known as phone ghosting in 2011; where somebody pirates a legitimate phone number and pretends to be a credit union. It is vital to show members how to verify communications and/or calls are coming from either their credit union or an authorized party, as it is too easy just to trust that the call is legitimate.

Synergent offers a full suite of fraud tools to credit unions, These services and products score the likelihood of fraud as part of the transaction authorization process, a service that allows credit unions to build custom rules with the program Risk Analyst that pin points very specific trends in fraud. In addition, we have several webinars that are aimed at fraud monitoring as well as specific session regarding each of the fraud tools and how to correctly utilize these services.

Member education is also key in preventing fraud associated with phishing scams, and educating staff regarding data security is a key item that can help prevent some types of fraud associated with date being intercepted or provided.

And while fraud will always be an issue, Synergent hopes that with the implementation of fraud tools and the possibility of introducing the Europay MasterCard Visa (EMV) standard, which features a micro-processing chip that stores cardholder data securely, these numbers will be reduced in 2012.

R. Higgins
Assistant Vice President of Card Services
Synergent

Opening the mailbox around the holidays is usually an exciting event. I can expect cards, magazines featuring tempting holiday treats, and even the occasional package. Some of the mail I have received lately however, is not embracing the spirit of the holidays. While it seems that the amount of promotions and coupons I receive this time of year has increased, they all look quite generic, causing them to be destined to the recycling bin, not my purse to help in my holiday shopping. It makes me think – would their fate be different should it be personalized with not only my name, but my interests as well? Synergent’s Data Mining Specialist, Sally Witham, explained that this extra effort on the part of business to create personalized marketing pieces could have meant a much happier ending for these pieces.

“Working with member data allows us to target a very specific audience. Rather than sending out a communication to a credit union’s entire member population, we can drill down to the most detailed information about a member, defined by the campaign, and personalize our marketing strategy to a very unique group of members,” she said. “Targeting a smaller, defined group helps increase response rates by offering products and services that match a member’s personal situation.”

With this special season upon us, there has never been a better time to get personal! Wishing you a season, and mailbox, full of surprises!

D. Dionne
Communications & Marketing Specialist
Synergent