A new e-statement module is saving the $116 million North Shore Federal Credit Union in Grand Marais, Minn., about $900 a month, said the credit union’s online banking vendor, AgilityFour of Dandridge, Tenn.
The solution pulls the information from the core system, bypassing the need for third-party providers, the company said. “We’ve already recouped the cost of the module in four months,” said Mark Summers, president of the 8,100-member North Shore FCU.
North Shore is one of 16 users of the startup’s AgilityWeb online banking solution. Members who haven’t signed up for e-statements see a list of available statements on their screen, which encourages them to sign up for the automated service, the company said.
AgilityFour said it has been averaging one new home banking client a month since April 2010. All its clients so far use the Symitar Cruise core processing platform.
In addition to North Shore FCU, other clients that have added the new e-statement module are the $72 million Trademark FCU in Portland, Maine; the $106 million Roanoke Postal Employees’ FCU in Roanoke, Va.; the $21 million Connecticut Community CU in Pawcatuck, Conn.; the $16 million Great Meadow FCU in Comstock, N.Y.; the $33 million Limestone FCU in Manistique, Mich., and the $20 million Dynamic FCU in Celina, Ohio.