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7-Eleven Vcom shared-branch transactions up 43

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SAN DIMAS, Calif. (5/19/09)--Use of 7-Eleven Vcom kiosks for shared-branching transactions is up 43% from a year ago, and transaction surges have been as high as 9% each week since December, Financial Service Centers Cooperative said. The kiosks can be accessed 24 hours per day, seven days a week--which largely contributes to the high transaction volume, according to Bonnie Kramer, FSCC executive vice president. The units are used the most on Fridays and Saturdays, she added. “Members need access to their accounts when it is convenient for them and that does not always coincide with typical financial institution hours,” she said. Credit unions that have closed branches also have directed members to the Vcoms. The units are “virtual commerce” kiosks, which means members can perform any financial transaction they could at a credit union branch. FSCC deployed shared-branching services on Vcom units in 2007.

SEDONAs clients see 6 increase in new member retention

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KING OF PRUSSIA, Pa. (5/19/09)--SEDONA Corp. has introduced a new customer relationship management (CRM) and member relationship management (MRM) solution to help credit unions acclimate new members. CRM and MRM help automate new member boarding processes so staff members can focus on serving members instead of administrative tasks. Credit unions often experience a “honeymoon period” with new members, in which the credit union works to secure its newly formed financial relationship. The first few weeks and months of the new relationship are critical, SEDONA said. “It can take up to six years to recoup the cost of acquiring a new credit union member,” said Matt Keegan, SEDONA regional sales executive. About 58% of credit unions surveyed by Aite Group indicated they are experiencing growth due to new members. CRM and MRM have helped credit union clients experience up to 6% in new member retention, SEDONA said. SEDONA is based in King of Prussia, Pa.