Keeping Up With Technology: Award Winner Demonstrates Best Practices for Credit Unions
Technology makes huge leaps forward every day. Just like any other business, your credit union needs to keep pace with all those technological changes so it can lower costs and increase efficiencies. If you can’t manage this process, you’re going to have a difficult time staying relevant in the industry.
To support innovative approaches to solving everyday business challenges through the use of technology, the CUNA Technology Council recognizes three credit unions annually for their efforts in this area. The Council recently recognized Affinity Plus Federal Credit Union of Minnesota with its “Best Practices Award” for its creation and implementation of an e-contract workflow process. The process allows for business contracts to be easily located, accessed, stored and routed.
How did they do that? And how can you emulate the process?
To achieve its goal, Affinity used a document management solution to capture contracts electronically, making them available from one central location. The credit union then automated the process that takes them from start-to-finish. Now Affinity shares information across departments and the entire company with a few clicks.
By automating time-consuming repetitive tasks, like looking for paper contracts that used to be stored in file cabinets, the credit union has more time to accomplish its goals. Examples include improving member service and empowering those members with the knowledge of how their money is being managed, furthering their trust in Affinity’s ability to do so successfully.
Affinity is looked at as a pioneer in the credit union movement. That innovative spirit is what drove it to take a slow process that used to rely on tons of paperwork and make it simple and fast by using the technology it already owned. That’s the power of a document management solution that easily integrates with any technology.
Your challenge, then, is to mirror Affinity’s efforts, turn them into best practices and start making your own credit union more efficient and effective. Not only for your employees, but for your members as well. And you can do that the same way Affinity did it:
- Improving member service by utilizing document management
- Realizing efficiencies and cost savings departmentally
- Adding more departments and rolling solutions out to the entire company
Creating ways to do business faster and more effectively lets Affinity focus on helping members achieve their goals. Affinity’s proven and repeatable solutions, utilizing the technology it already owns, is why the credit union is looked at as a leader in the industry. You can be too.