While Technology Credit Union (Tech CU) knows where to find good value in its
online services, it also knows how to make use of that cost savings and technology
expertise to take member satisfaction to the next level. Tech CU is using their
insight in effectively serving the needs of technology-oriented members to promote
a cooperative spirit among other technology-driven credit unions.
Based in the San Jose, Calif. area, Tech CU serves more than 1,200 members from
technology select employee groups (SEGs). More than 75,000 members make up those
SEGs. And those are members who aren’t shy about using their credit union’s
Internet-based services. For example, a whopping 65 percent of Tech CU’s
members used home banking last year – a 26.5 percent increase over the
year before. Bill payment usage increased by 55 percent from the year before.
And eStatement adoption increased nearly 10-fold.
“Because our members are technology minded, we provide a comprehensive
set of online capabilities,” said Michael Luckin, senior vice president
of delivery systems. “We have to do that. One of the reasons for our increased
success has been our ability to implement new capabilities and functionality
more quickly and at a competitive cost.”
Luckin adds that this is due primarily to its conversion to the MemberBridge™
platform in October of 2002. “Before MemberBridge, we didn’t have
as much flexibility or control,” he said. “The cost savings of doing
our own customizations have been huge – and are a significant benefit
to us,” said Luckin. “We were able to integrate a number of services
ourselves that otherwise would have been costly had we not converted to MemberBridge.”
Available through corporates as part of the MemberStreet® product line,
the MemberBridge software connects host systems to end-user Internet services
such as home banking, bill payment and loan solutions. It acts as a translation
gateway that supports and centralizes these applications.
Tech CU takes its success with online services to the next level by participating
in a MemberBridge consortium. “In the cooperative spirit of the credit
union community, we share best practices with other credit unions,” explains
Luckin. The consortium frequently shares ideas and brainstorms to identify future
The consortium even exchanges software code information from time to time.
“We wanted that commitment,” said Luckin. “It’s hard
to explain the credit union allegiance to a vendor who is not focused on credit
unions. We know that our unique challenges and needs will be met by working
with a provider that is a part of the tightly-knit credit union community.”
MemberBridge fosters a distinctively cooperative credit-union setting because
its roots were established in the credit union community by the members of Open
Financial Solutions (OFS). OFS is a credit union-originated association that
was assembled to develop solutions to encourage economies of scale, and to share
technology successes, exclusively for the benefit of the credit union community.
While Tech CU doesn’t know how technology will change in the future,
it does know that technology will change. And it knows that MemberBridge will
help it meet the changing needs of its members.
For more information contact Michelle
Young (888) 872-0440, ext. 6088