Resource Center

There are numerous variables that can impact call volumes. Some are unpredictable - like the recent pandemic dominating headlines - and others can be planned for, such as rate/fee changes, mergers and acquisitions, or banking platform conversions. These special events require an understanding that your members are undergoing change and need to be cared for accordingly. 

Change events and conversions can also be a real opportunity to showcase your credit union’s customer service and key differentiators, while expanding member relationships and educating them on everything your CU has to offer.

Download this playbook which will guide you through the steps to plan for the ramp-up, the go-live and the post-analysis of change events. You’ll also learn: 

• Best practices for each planning stage
• How to create a project plan and forecast potential call volume
• Tips on staffing for spikes in call volume
• How to prepare internal communications and train representatives 
• Which KPIs to measure in post-event analysis

Borrowers today expect a seamless, online experience for their mortgage process. In fact, millennials, Gen X, and even baby boomers now prefer the lending process to be digital, according to a recent PwC report¹.

Going digital is about developing a new, secure, and compliant workflow that better operates in the modern world. Lenders who are slow to embrace this transformation will be left behind.

Download this white paper to explore four common digital mortgage barriers - and their solutions - that your credit union can take action on today to deliver:

• The seamless experience borrowers expect
• Expedited times to close
• Reduced cost and time managing paper documents

1 - www.pwc.com 

For growth-minded credit unions, the recent legislation for cultivating hemp in the US may shed light on a new opportunity regarding the banking and servicing of hemp-related businesses. But the changes tied to the Farm Bill also bring increasing risks for banks and credit unions who take on these clients.

Download this white paper to learn:

• How to evaluate the opportunity
• The impact of the Farm Bill
• The differences between cannabis, marijuana, hemp, and cannabinoids (CBDs)
• Potential risks of taking on these banking relationships

As credit unions prepare to comply with the current expected credit loss (CECL) model by 2023, there are unique opportunities to learn from key decisions that current SEC filing institutions have already made. Interpreting the results from SEC filers is more critical this year than ever, and credit unions should be taking large strides in 2020 around data remediation, project planning, and the beginning of model development.

This on-demand webcast will share insights around inputs, data, and results from working with public clients through advisory engagements.

Access this on-demand webcast to learn about:

• What works and doesn’t work in CECL modeling
• How private entities can get ahead
• Practical examples to learn from

If it feels like storm clouds are gathering over your financial institution, you’re not alone. The combination of economic uncertainty and unprecedented competition from an increasing number of sources has darkened the business outlook of many leaders in the credit union industry. 

The roles played by CFOs, and other finance executives, of traditional financial services institutions are increasingly important as organizations strive to maintain margins during this time of uncertainty.

Download this report to learn 10 key findings facing CFOs and other finance executives across the U.S., based on Kaufman Hall’s annual survey. Examples include:

• Many institutions lack sufficient profitability insights to know where to invest – only 16% of respondents cite a clear understanding of performance based on profitability analysis.
• There is a significant gap between what finance leaders feel is important to monitor and what they actually measure and track – for example, 94% say they should be monitoring relationship profitability, but only 40% actually measure it.
• Outdated budgeting processes and systems contribute to long budgeting cycles and inaccuracies – 43% of institutions cited budget cycles that take four months or longer.

Based on these findings, the report also recommends 11 strategic priorities to help your institution overcome challenges and maximize opportunities to grow profitably.

Many credit unions are using advanced predictive analytics to transform their origination and member services processes. But not all are equally prepared to develop and deploy their own analytics, and the leading data science talent necessary to build effective models can be hard to find and expensive to retain. Even credit unions deep in data science talent often have operational bottlenecks that make it difficult to deploy analytics to generate timely business value.

These difficulties have given rise to a new adoption approach for advanced analytics, machine learning and applied AI: managed service offerings in which a partner like FICO develops and deploys the advanced analytics via the cloud.

Download this Executive Brief on analytics, decisions, and scoring as a service. In this brief, we describe:

• Why a service-based approach might be right for credit unions that want to increase their use of analytics but struggle to develop and operationalize predictive models.
• The types of operational decisions in originations and member services that could be significantly improved using real-time analytics.
• How analytic services work with your existing systems, processes and architecture.
• How to ensure that your use of analytic services is transparent and compliant with internal and external guidelines and regulations.

As credit unions navigate advancing technology and innovation, the old-world focus of simply providing “service” won’t translate into success in the future. Organizations that tap into unused member data and draw insights to deliver “experiences” will remain competitive and thrive.

Customer experience is becoming increasingly central to success and will only grow in importance as digital consumerism expands.

Luckily, credit unions are uniquely positioned as leading consumer data collectors. The most successful are finding ways to make sense of their data and create actionable, personalized experiences for members. 

Download this report and explore 5 keys to creating an exceptional customer experience for your credit union members. Including:

• Market differentiation
• Revenue impacts
• Delivering relevance
• Change Management and its effects on CX
• The importance of brand support

As a credit union leader, the news that development and support of your core system is non-existent can be shocking and stressful, and it can pull your entire organization into disarray.

Download this white paper and find out:

• How your legacy core systems are interfering with growth
• What you should expect from a modern core system
• How to select and launch your new core system

Converting your business banking to a new and robust platform can be daunting. 

Access this on-demand webcast and discover tips, tricks and best practices in this short thought leadership. You will learn:

• How to minimize impact to your business operations
• Preparing employees to support end-users 
• How to set the stage for achieving your growth goals

It’s estimated that 90% of the worlds’ data has been generated within the last three years alone. With the interactions of online shopping, social media and digital service tools, consumers are providing insights that can change the way your institution plans for the future. 

Access this on-demand webinar to understand how to access this data to improve your member experience and turn that data into actionable insights that are critical for your success. You will learn how the right data can help you:

• Drive new efficiencies
• Better assess a borrower’s ability to repay
• Target your messages for growth
• Offer consumer benefits, including: better member service; improved insight and financial advice; simplified account openings and financing applications; and non-traditional credit files
• Positively impact mortgage lending

Communities thrive with the growth and success of small and mid-sized businesses. And just like consumers, they find themselves looking to their local credit union for financial advice and services. Helping these businesses prosper is at the heart of the credit union mission.

Through C&I lending your credit union can help these businesses succeed, and in turn, grow relationships. Access this on-demand webinar as we discuss trends impacting the commercial lending space in 2020, and how digital transformation can help you build a forward driving business strategy. We’ll cover:

• Spotting the opportunity in C&I 
• Economic and generational impacts on business
• Milestone moments when a business needs financing
• Getting digitized for business lending
• Trends driving digital transformation

Today’s CU members expect to get answers to their questions immediately. Credit unions have the opportunity to use a variety of digital tools to meet and exceed member expectations of 24/7 self-service, while also trying to ensure members can still reach a human representative when they want or need to. 

Recently, Artificial Intelligence (AI) has paved the way for more immediate, personalized service that leverages the power of chatbots to drive efficiencies, while also providing better support for member service representatives. When chatbots and human agents work together in harmony, the goal of exceeding members’ expectations can be met. 

Download this white paper to discover the operational and member experience benefits of combining AI technology and member services, including:

• How AI technology leads to better member experience.
• How chatbots help reduce routine tasks/questions for human agents.
• How a central knowledge base empowers agent efficiency. 
• How to unlock harmony between bots and human agents to help reduce agent turnover.

Attentive member service and personal relationships have always been the differentiating factor for credit unions over other financial institutions. But today, the definition of superior services is rapidly changing as consumers expect access to personalized services anytime, on any device.

AI-powered solutions are a cost-effective way for credit unions to raise service expectations, deepen member relationships, and level the playing field with big banks. 

Download this white paper to discover how AI and machine learning solutions can transform your credit union’s service experiences to delight members through:

• Convenient self-service options
• Chatbots that offer personalized, human-like service
• Consistent omnichannel experiences
• Seamless transitions to human service agents
• Privacy and data security standards

Gen Z consists of about 68 million Americans with a purchasing power of close to $44 billion.² The oldest of which are now graduating college, entering the workforce, and beginning financial adulthood.

They expect fast service, fast results, and overwhelmingly prefer cashless payments. It is imperative that credit unions are aware of these needs and have a strategy in place to capture Gen Z members as they are now establishing important financial relationships. 

Download this white paper to discover what credit unions should know about Gen Z to successfully attract and retain them as members, including:

• Who Gen Z is and what they value
• Gen Z vs. millennials
• How credit unions can attract Gen Z

¹The Financial Brand, 2019.

²McKinsey & Company, 2018.

The recent M&A activity in today’s market presents an ideal opportunity for credit unions to pause and reconsider one of their most critical payments-related offerings: their current credit card program. 

Credit unions who take the time to weigh the pros and cons of different operating models may find that an outsourced program best fits their needs.

Download this white paper to learn:

• Pros and cons of self-issue vs outsourced credit card operating models
• How Dover-Phila CU increased credit card balances by 70%
• The importance of a comprehensive digital strategy