Improving the Design and Delivery of a Credit Union’s Member Statements

With consumers becoming increasingly more educated about their banking options, credit unions are seizing this opportunity to better connect with members. There is an effective tool in their promotional arsenal that is perfect for this—the member statement. Understanding the importance of the member statement as an ongoing vehicle for communication, one of our service provider clients who does work for credit unions came to us with the need to improve the format of their customers’ member statements. While it wasn’t an extremely complex project, the company didn’t have the time or resources to get it finished in the time promised.

One of the great things about BelWo’s staff augmentation services is that it allows a company to add staff based on the skills needed to support its current initiatives. Having the ability to ramp up or down can help fully leverage any software investment already made in-house and meet stringent deadlines, without shouldering the cost and liabilities of additional full-time employees.

The scope of this project involved integrating the member statements developed in Quadient’s Inspire Designer with an automation tool owned by the customer. We were tasked with producing the print files, index files and archiving the PDFs that would be used as e-statements.

However, the design of the member statements became a bigger challenge than the input file data structure. Our client was struggling with finding a design that worked with how the credit union wanted to display its information. Our BelWo team jumped in at the design level and mocked up several designs that could solve the problem, making it possible to add more valuable information on the statement, including marketing messages, better whitespace management and modernized look and feel.

Additionally, we found that there were some some fields missing in the data file for Mortgage Loans, which is why there was some confusion on our customer’s part as to how to display the information. The BelWo team adjusted the file to display the incoming data correctly on the Mortgage Loans statement. Also, there were two fields “Credit Limit” and “Available Credit” in the data for the loans and our customer was not sure how these two fields would need to be set up. We suggested these two fields needed to be printed on the statements only for the loan type “Open End”. We documented all the business rules in the Business Requirement Document (BRD) and sent it to them. The credit union then decided to add one additional file as an input to change the name of their account types. We subsequently documented all the business rules in the BRD.

We accommodated all the changes requested within the timeline specified in the beginning of the project. The best part is that despite the many changes throughout the project, we were able to make it live on time. The credit union was very happy with the newly designed statement, and our client was very happy with the quality. Despite changes throughout the project, we delivered the upgraded member statements on the original timeline

BelWo’s CCM Team has mastered the latest Quadient Inspire tools to be able to help Quadient users connect core systems and maintain the infrastructure needed to drive needed business-driven changes to templates, business rules, regulatory language changes and multichannel consistency. As a Quadient partner with over 19 years’ experience, BelWo works with credit unions to integrate core systems into an effective document infrastructure. After all, a statement isn’t just a list of transactions and totals, it’s also an opportunity to deliver your message to members.

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