Customer Communications Software

How much attention do you pay to your credit union statement? Be honest here as you don’t have to impress anyone with your answer! Too many people simply toss them out with merely a glance. Others hold onto them and place them in a file, but they may still be in the envelope they were mailed in! It is important to evaluate your credit unions statement though. Otherwise how do you know if the information on it is correct?

There is plenty of information to be found on your credit union statement. Learning how to read it is a very important task. Most of the time the process will be self explanatory but if it isn’t ask someone that works there to go over it with you. Being able to see what money you put in as well as what you take out is important.

At the same time you should be able to see if you are making any interest on the account. If so what is the current rate? Is that rate a good one compared to what other credit unions have to offer? If you aren’t sure then it is time for you to spend a bit of time conducting research. Making as much money as you can from that balance is a key aspect of being money wise.

Of course you also need to explore your credit union statement for fees. They can eat way at the amount of money you have in that account if you aren’t careful. What are those fees for? If they don’t show itemized elements to them then you definitely need to ask. You should also consider asking your credit union to waive such fees. They won’t do it automatically but if they feel you may take your business elsewhere it is likely something they can do to maintain your business.

Get into the habit of evaluating your credit union statement in the days after you receive it. Otherwise the risk of unauthorized transactions or mistakes can be there and you will never know about it. When you do find such mistakes it can be too late to have them corrected. Your money is very important so pay attention to what is going on with it. Never just assume your credit union has it all under control on your behalf.

You can count on that traditional paper statement to come your way if you would like. If not, there are some other choices when it comes to looking over your credit union statement. Most of these entities offer you a chance to view it online. The benefit is that you can do so anytime you want – even between statement dates. You can also buy software that allows you to customize your credit union statement information.

It is easier than you may have thought to keep track of all your information. You can also feel good knowing that you are staying on top of all of it. The process doesn’t have to make your head hurt though or consume large amounts of time. It is part of being responsible with your income though so find a method you are happy with and stick to it.

Is your organization doing enough to differentiate itself from the bank down the street???  I look at organizations all the time who claim to have significant differentiation in place for products and services but, when looked at closely, there is nothing significant except the same old differences in rates and fees.  To better address this, ask yourself today what would be the number one pain point for your customers today if they left?  If you are having trouble answering that question, it is time for you to get busy!

The timing of this post is directly related to a customer that I am working with who really understands how to differentiate themselves from their competition.  They are working on utilizing their enterprise customer communications management software to make charge-back notices with item images available real-time.  This is great differentiation as it provides significant value to their commercial customers and none of their competitors can come close to offering similar functionality.  Their customers will need to give up significant value to move their relationship.

Most organizations have a tremendous amount of data available that could be used to differentiate from the bank down the street.  Enterprise Communications Management will empower your organization to deliver true differentiation by providing this to your customer in a timely and relevant way!