FORT ATKINSON, Wis.-The inconvenience associated with long waiting periods-sometimes seven days-for a replacement debit/credit card became too burdensome for Fort Community Credit Union. A faster solution was needed to meet members' expectations.
"It is important that we can get a replacement debit card in our members' hands as soon as possible," said Fort Community CU Vice President of operations Sue Johnson.
Until last year, Fort Community CU had to order replacement cards from a faraway factory, and then waited as the cards were processed and shipped to either the main branch or couriered to a member. That process took days or even up to a week in some cases.
"The rate at which a replacement card is needed depends on whose pocket the card is in. I keep mine in my wallet so it can last up to three years, but others keep them loose in their pockets and need a new one every six months or per year," said Johnson. "Either way, everyone needs their card."
'Plug & Play'
On average Johnson said approximately 10 to 20 cards are issued every month or so due to loss, damage or new members. While a low number compared to the credit union's 16,500 members, she wanted to figure out a way to expedite the process.
After due diligence, Johnson learned that there were host of vendors offering instant replacement via an in-branch card printing machine. "At first I thought the cost was going to be prohibitive," said Johnson.
When she reviewed the Nashville, Tenn., EFT Source's offering, the numbers added up. "We are essentially breaking even on the investment," said Johnson. "It's the same cost as working with the factory and we are actually saving money on postage."
The Web-based "plug and play" Card@Once machine is the size of a desktop printer and is fairly easy to use. Johnson completed a two-hour training course online before training a handful of the credit union's 56 employees on how to use the machine. This was undertaken, in part, by issuing cards to staff first, which ensured they worked properly.
"Nobody wants a card that gets declined, so staff training is the most important aspect of the process," said Johnson.
While EFT stated that cards can be printed and "live" within 90 seconds, Johnson noted a more reasonable time in her experience is five minutes. The time difference is due, in part, to Fort Community CU not being integrated with its debit-card processor. As a result, a few manual steps are required, which include entering the card number, the account information, pin and member name.
Over the course of the next few months, the systems will be integrated, which should cut down on turnaround time and manual inputs. While the credit union has four branches, as of early June only the main branch had a working card machine.
"One of our branches is located only one mile away from our main branch so we will be adding the card machines to the other two branches," said Johnson. By July all three branches will be operational with card machines. Members who frequent the other branch location can order the card at pick up at one of the other locations or have it delivered by mail, she said.
'Members Are Thrilled'
Since the program officially rolled out in March, Johnson said roughly 250 cards have been issued with the new machine. "Members are thrilled with it," she said and added that there are six different card designs members can select for a $4.95 fee. "Our main purpose is getting the card in their hands as quickly as possible and members are not worried about the cost."
