In today's market, attractive rates and fees, innovative product platforms, rewards and incentives are all at the top of the list as consumers select their financial services providers.
That's been the case this past year in credit union technology. That old saying is also considered a back-handed curse,
An e-statement enrollment contest held by a Michigan-based core processing CUSO resulted in more than 9,000 new users at 60 participating credit unions.
More than 9,000 credit union members got e-statements and one won a Wii in a contest sponsored by a Michigan-based CUSO.
To survive losses in fee income and high NCUA assessments credit unions must dive into this new business era feet first...
"Last year our members saved about 60 tons of paper using electronic statements. That's the equivalent of two average-sized gray whales," said Teresa Halleck, president/CEO of The Golden 1 Credit Union in Sacramento.
For The Golden 1 Credit Union in Sacramento, Calif. e-statements offer not only a selling point to environment conscious California residents, but saved the credit union more than $1 million in paper and postage last year.
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