Clark County Credit Union Nails Self-Service Convenience and Savings
Single technology investment in electronic content delivery yields multiple results for members
Clark County Credit Union ($580M, 37,000 members, Las Vegas, Nevada) is committed to giving its members the best possible array of services, and capturing the greatest possible savings from improving internal operations. With the launch of WebShare from Bluepoint Solutions in late 2015, they are succeeding in fulfilling both goals.
WebShare with eDelivery is part of Bluepoint Solutions’ FASTdocs enterprise content management system, and integrates directly with online and mobile banking systems. WebShare delivers a new level of member convenience, including a web portal with a seamless user interface for anytime access to member information, plus electronic notifications of statement availability, in a single solution. By replacing outsourced services, this solution delivers twice to Clark County CU members: first in reliable, easy-to-use services; and second in hard cost savings.
Bluepoint recently sat down with Mark Andrews, chief marketing officer for Clark County Credit Union, to talk about their experience with the transition to WebShare.
Bluepoint: What led you to choose WebShare for electronic member communications?
Andrews: This was a strategic move for us, to meet two important goals. First, we wanted to give our members easy, convenient access to their documents, and provide e-statement notifications. Member relationships are everything to us at Clark County, and we needed a better electronic communications platform; one that we could feel confident about offering. Second, we wanted to save money. And not solely to redirect funds to other member-facing services—although we will. Clark County also returns savings directly to our members in the form of an annual bonus dividend.
Bluepoint: What did your statement notification process look like before, and how has it changed?
Andrews: We had tried an outsourced e-notification service, but in our trials we felt it was not reliable enough to roll out to the membership at large. This left us unable to provide the level of service we wanted to offer members who prefer digital access. Even though we had a solution in place, we really were still a paper-only statement provider. We didn’t have enough control over the notification process, we were still paying to produce and mail costly paper statements to every member. Added to that, we had the recurring cost for the service itself.
WebShare with eDelivery has solved these problems for us. For a one-time investment, we now have the solution in-house, which has given us the confidence to offer e-statement notifications to our entire membership. It’s fully meshed with our electronic content management system and our home banking system, so we can provide the anytime, anywhere access our members want. All with no more third-party payments. Just as important, we can now move forward vigorously to transition more members to eliminate paper statements. This saves us dollars we were spending on costly paper statement production and mailing services—savings that will grow over time.
Bluepoint: Tell us about your members and why this solution is so valuable to them.
Andrews: Our membership bridges multiple generations, from Baby Boomers to Millennials, and any technology we bring on board has to do the same. With such diversity, it’s important that WebShare gives our members the ability to customize individual communications. They can still choose paper if they prefer it. At the same time, by making the web portal easy to use, we can give them a smoother experience and encourage more of them to take advantage of the convenience.
Bluepoint: What was your experience with the implementation and what cost savings do you expect from WebShare with eDelivery?
Andrews: Overall, the experience was excellent. Bluepoint worked closely with us to get the system in line with our existing internal systems. We did two internal test runs of the e-statement notification function, and then were able to roll it out to the entire membership.
As for savings, our analysis shows they will be significant. Next year, we expect to save $10,000 a month, or $120,000, all of which can be redirected toward additional member-facing services and returned to our members as dividends. This estimate is based on our conservative goal of converting 5,000 new and additional members to eDelivery within 18 months. And because WebShare is operated in-house, increased demand will simply increase savings with no additional costs to us, or to our members.
About Clark County Credit Union
Clark County Credit Union serves a unique membership including county and city employees, medical profession-related employees, public radio employees, and other specific board-authorized Select Employer Groups throughout the Clark County area.