ALEXANDRIA, Va. — There are more than just socks in that suitcase credit union types tote to those federal workers' meetings.
If it's a gathering of the National Active and Retired Federal Employees Association (NARFE), it's probably the "technology suitcase" that staffers from NARFE Premier FCU take with them to sign up new members and provide other services on the spot.
The hardware includes a laptop, portable printer and scanner and the software includes another kit of its own, the iSwitchKit from Fiserv.
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Initially developed by the company's Galaxy unit, the system is now available to the other six Fiserv core processing units as well and can be used to leverage the online channel to process new applications and expand existing relationships with new accounts and other products and services through built-in cross selling tools.
Armed with four of the so-loaded suitcases, staffers from NARFE Premier FCU have added more than 360 new members so far this year using the iSwitchKit, including 110 in February alone. The sessions were as far-flung as Florida, New York and Washington State.
"NARFE has provided us the opportunity to attend their meetings around the country, and this particular product certainly assists us in our endeavor to provide them national banking, when and where they need us," said Anthony Walker, president/CEO of the $122 million CU based in Alexandria.
In addition to retirees, the credit union serves more than 240 SEGs. The iSwitchKit came in particularly handy at a recent membership drive held in recognition of National Public Service recognition week at an underground facility with 3,000 federal employees.
Thirty new members were signed up at that event. And using the online tools, their identities were verified against all the necessary lists, their applications were approved, and they had member numbers before they left the table, said Jessie Dederer, NARFE Premier's marketing director.
Jay Slavin, Fiserv Continuum senior vice president, said about 18 credit unions running on the Galaxy core system are now using the iSwitchKit, "along with some at AFTECH and IntegraSys. We're starting to make some inroads with XP Systems and USERS, too."
Operated as a Web-based service, applications are securely stored off-site and can either be approved immediately or deferred to an officer at the credit union. New accounts can be funded via debit or credit cards or ACH and if new members are switching accounts from other institutions, the iSwitchKit provides letter templates to close previous accounts and change direct deposits and bill pay arrangements.
While it's being marketed as a CU7 solution for clients of Fiserv core processors, Slavin said the iSwitchKit can run on nearly any other core processing system and that each installation is a custom engagement.
"We put it together based on how the individual credit union wants to do it, on what kind of cross selling functionality they want, for instance, and what the products and services are that they want to sell," he said.
Walker, the NARFE Premier CEO, can verify the personal touch from the big company. He credits the vendor with taking a little extra effort to make sure things were working smoothly after the solution's initial deployment at his CU.
"With any type of software there's going to be some hiccups along the way, I think, and fortunately Galaxy was there not only for telephone support, but came out to a NARFE meeting so they could see firsthand how we interact with members so they could fine tune and tweak those particular processes," Walker said.
Those processes, in fact, have expanded. The 9,800-member, two-branch credit union is now using the iSwitchKit tools to open accounts internally as well.
"We use it every day," said Patricia Irwin, NARFE Premier's executive vice president.
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