Clark County Credit Union was wasting a lot of paper and money last year. The $635 million CU was unable to provide e-statements to members who wanted digital access to their accounts.
The Las Vegas-based CU needed a cost-effective way to manage communications while keeping costs down with a multi-purpose e-mail platform, according to Matthew Becker, vice president of information systems. It was costing Clark County about 60 cents to print and mail each paper statement out to its nearly 40,000 members.
Members were saying they wanted more flexible, multi-channel access to their information, according to Becker, while the CU wanted to increase operational efficiency as well as security while enhancing the overall member experience. The outsourced system the CU had in place was unable to accomplish these goals.
So in late 2015, Clark County installed WebShare with eDelivery from Bluepoint Solutions. And now, more than 16,000 members are receiving their statements electronically, saving the CU nearly $10,000 a month in paper statement production and postage costs.
These efforts earned the institution a Best Practices Award from CU Journal.
Becker said the biggest advantage of WebShare is "having an e-statement solution that provides information to our members fast and efficiently." In addition, the CU can upload tax documents online at the beginning of the year so members don't have to wait for them to arrive in the mail to visit a branch to get them.
And another benefit is that "when the auditors come into our CU, we can confidently say our members have gone [online] at least once to access their statements," Becker said.
"Clark County Credit Union worked closely with Bluepoint to create an online statement service that is beneficial to our institution and institutions everywhere," he noted. "The biggest takeaway from the rollout was the partnership and collaboration between our two companies to create a product that has appeal to many financial organizations."
