Credit unions today are engaged in an ongoing battle to attract clients. In the age of big banks, credit unions fill a special niche. They are capable of offering a more personalized level of service to clients who are tired of being treated like just another number by the big conglomerates. If credit unions are going to succeed in attracting new customers, they’ll have to stand apart from the crowd in some meaningful way. This is where solutions like those from Lanvera.com come into play. Websites like this are offering credit unions an opportunity to reduce costs, stay within the law, and meet consumer needs in a unique fashion.
Detailed credit union statements keep customers in the loop
One of the things that customers look for in a credit union is a willingness to communicate. The big banks can sometimes fail in their duty to keep customers informed. Credit unions, on the other hand, have made their name by providing customers with detailed information each month. Good companies today are helping credit unions provide the most detailed statements possible. By doing this, these companies allow credit unions to send out documents each month that instill confidence in customers. All of a sudden, customers know how much money they’ve spent, how much they’ve deposited, how much the money has grown, and any other pertinent detail that might impact their financial standing.
Staying within the law
The laws on financial reporting change every so often. While banks can employ teams of lawyers and other compliance officials to keep up with the changing regulatory environment, this is not possible for credit union operators. Instead, many credit unions today are turning to companies that can help them understand the changes and challenges while also helping them stay within the contours of the law. This can take away some of the worry of reaching out to new customers. It can also add to the appeal and credibility of the credit union. Customers want to know that credit unions are playing by the rules if those customers are going to put their money into the union’s coffers.
Today credit unions understand that if they truly want to have success, they need to lean on the assistance of professional companies. They’re increasingly doing so in the realm of reporting and compliance. By doing so, these credit unions are remaining solvent and competitive.