Credit Union FAQ

Credit Union Outsourcing FAQ

Credit Union Outsourcing FAQ

Q: Why should credit unions outsource their print, mail and eStatement processing?

A: Credit unions have been outsourcing the production of printed and electronic member documents for decades. Many financial institutions outsource because it can significantly reduce postage, production and delivery costs, including the purchase and management of paper stock. Other credit unions outsource because of the provider’s superior data security or handling capabilities or regulatory compliant document-production practices.

More recently, credit unions have chosen FSSI to leverage our investment in electronic statement presentment/payment technologies, including mobile delivery. Mobile optimization enables banks to meet members’ multi-channel preferences by leveraging PDF and HTML documents and responsive web design formatting.

Q: What are the main benefits of credit union outsourcing?

A: Credit unions usually select FSSI for three reasons: extensive knowledge of their industry and member-communication challenges; our investment in network, data-security and digital color technologies; and the quality and responsiveness of our credit union service and support teams.

Q: How much credit union experience does FSSI have?

A: FSSI has nearly 40 years of experience serving credit unions of all sizes throughout the United States. In fact, one of our very first clients ever was a credit union. We’ve worked with both local and federal credit unions.

Q: How quickly can FSSI convert our credit union over?

A: The short answer is ‘it depends.’ That’s because every conversion is different and tied directly to the crucial preparation that must be completed prior to converting. Driven by formatting requirements, scheduling, overall complexity, and other considerations, the process can take several days or several months. However, using time-proven methodologies and helpful client checklists, FSSI’s credit-union data experts will support you in ensuring the smoothest, most efficient conversion possible.

Q: Does FSSI integrate with existing credit union data providers?

A: FSSI’s experience includes small- and large-scale integration with all leading credit union data providers and platforms, including Symitar® from Jack Henry and Associates. If you have a specific question related to data handling, contact one of our credit union specialists today.

Q: What compliance management measures are in place to ensure statement processing meets changing government regulations?

A: FSSI regularly assesses its production processes and workflow to ensure compliance with the latest regulations. For years, we’ve held the SSAE-18 Type 2 (SOC 1) security certification, and voluntarily undergo the annual audit required to maintain this coveted designation. In conjunction with a security and quality control process audit, auditors conduct rigorous network vulnerability and social media testing. They also provide a detailed review of our risk assessment analysis. Learn more about the audit here. Or click to review our security practices and policies and secure printing and mailing equipment.

Q: Does FSSI mostly work with large credit unions?

A: Not at all. We serve several large, recognizable credit unions as clients; however, we also serve small and mid-size institutions with varying levels of outsourcing experience.

Q: What types of integrated marketing and customer engagement capabilities does FSSI have?

A: We call our flagship credit union marketing and member engagement platform MarketAdvantage. MarketAdvantage equips credit unions to economically develop data-driven, multi-channel campaigns based on document design and communications best practices. Technologies that comprise the solution include:

  • Full-color Production Inkjet Technology—centered on Canon’s Océ ColorStream® 3900, which also supports MICR ink printing, inline dynamic perforating and integrated camera technology to verify the integrity of each unique piece.
  • The messageStreamOne™ Portal—providing real-time design control over your statements’ on-page message-text and graphics, the portal lets credit union teams create, approve, upload and selectively place full-color digital graphics and promotional/educational messaging. Elements may be tied directly to variable account data to dynamically create personalized member communications.
  • Cross-Media Communications—develop and deploy creative multi-channel member campaigns that feature unique URLs, Mobile (QR) codes, dynamic landing pages, and targeted opt-in emails.

Q: Does FSSI’s credit union outsourcing solution include year-end tax forms?

A: Yes, a popular service among FSSI’s credit union clients is tax forms processing. Our methods, many of which are unique in the industry, include time-saving features and options that credit unions find attractive. This includes a proprietary Tax Form Tool with Editable PDFs.

Q: Do you share credit union or financial service industry information via social media?

A: Yes, FSSI is very active on social media, posting regularly to Twitter, LinkedIn, and other platforms. We follow (and are followed by) credit unions across the nation. We also interact with numerous industry organizations and media. Organizations such as CUNA, The Credit Union Journal, Credit Union Magazine, and others. Share in our ongoing dialog and information exchange, including the latest tips, trends, and technologies for credit unions. Follow us on Twitter at @FSSI_CA and on LinkedIn.

New to outsourcing or looking for a new provider? Take advantage of FSSI’s pioneering leadership and 35+ years of credit union experience. Call 714-436-3357 today for no-obligation document production or data conversion consultation. Or email a credit union specialist with your specific questions.