The Difference Is in the Details: Enhancing the Member Experience

Credit Unions Then and Now When I joined my first credit union almost thirty years ago, the member experience looked a lot different than it does today. Member service was limited to business hours — with the exception of Thursdays, when the credit union was open until 8:00 p.m. so members could deposit their paychecks. Online banking, mobile deposits, digital signatures, online loan applications with automated decisioning, and any number of other technological advancements were still many years away. As I enter my 32nd year as a member of a credit union, and my 21st year working in the credit union space, it is truly amazing to look at how technology has enhanced the member experience as well as the expectations of the individual member. As it has in credit unions and in every industry, technology has certainly had a big impact at State National. As we approach our 50th anniversary as a company and take a look back at our beginnings, it’s funny to think that we used to transcribe insurance information onto 4” x 6” notecards and store them in filing cabinets. Or that each notice had to be typed out before it was mailed to the borrower. Or that the only way to get a borrower’s insurance information was via postal mail from the insurance carrier or client. Today, almost every task we perform for our business partners and their borrowers is completed with the help of technology, and every new innovation we come up with is created with one goal in mind: to enhance the member experience. Utilizing Today’s Technology to Enhance the Member Experience At State National, we understand how our products can be viewed as detracting from the member experience as opposed to safeguarding the collateral and protecting the institution. This is why, as the industry leader in collateral protection, we are constantly looking for ways to prove that belief wrong by minimizing borrower impact and enhancing the borrower experience. In the last few years, we have introduced some truly game-changing technological innovations, like WRAP, our Web-Based Robotic Automated Processing.

Tracking Alone Is Not Enough

The Difference Is in the Details: State National’s Dedicated & Proactive Relationship Service Model

The Difference Is in the Details: Timely Automated Insurance Verification for Borrowers “Why am I getting these notifications? I sent in my insurance information already — twice!” Depending on the company and system you’re using for insurance tracking, this kind of noise may be an all-too-familiar sound. It’s never a good feeling to hear that an upset borrower has called to complain that they’ve received an insurance notification — or even worse, had a policy placed — in error. That’s why it’s so important that the partner you choose for portfolio protection has done everything they can to ensure those calls don’t happen. Collateral protection has come a long way since State National pioneered it back in 1973. In those days, when notifications and insurance submission was all done by mail or phone, even the best-run programs had to cope with a certain level of borrower noise because of unavoidable delays. But, fast forward to today and cutting-edge proprietary advanced technology and tools are available to solve these problems — in many cases, before they ever happen. We’ll let you in on a secret, though — not every provider has them at the same level, although they may tell you they do. Because of State National’s exclusive technology solutions, and service that’s entirely focused on portfolio protection, all you’ll notice is the peaceful sound of silence — which is good for your borrowers, your staff, and your bottom line. Watch the short video below to see how State National can help you reduce friction and borrower noise in your collateral protection program.

Break out of a rut with creative solutions for getting back into flow You probably know Rusty. Rusty was very knowledgeable at his job and was highly motivated — a great employee and asset to his company. Then Rusty was required to stay in the house for months with little interaction or engagement with his coworkers and customers, and he started to lose some steam. Then — hooray! — his world started opening back up, and he was excited to pick back up where he left off. And then … once again Rusty found many of his in-person meetings canceled and his clients’ offices off limits. With that momentum slowdown, in addition to the normal post-holiday acclimation period, Rusty isn’t feeling as on top of his game as he once was. In fact, he feels … well, a bit Rusty. If you look in the mirror sometimes and see Rusty, here are some ideas to try: Schedule one hour a week for learning. Take a course through your employer, sign up for training through LinkedIn or organizations in your field and industry, or check out Coursera, Lynda.com, Udemy, or similar inexpensive options. Review industry websites and publications, watch a Ted Talk or other video, read a business or self-improvement book, or listen to a podcast or audiobook related to your field and/or something you want to know more about. Schedule a 30-minute meeting with your manager or a peer and talk about one or two business-related topics. Make sure this is understood to be a safe zone for both. It’s about growth and development. Ask for feedback, and receive that feedback openly and honestly. Reevaluate your workspace and remove any distractions that may be preventing you from fully entering flow. Example: Put your phone on focus mode. Set aside uninterrupted blocks of time on your calendar to complete projects. Close out of your email when you are trying to focus on an important task. When you are feeling stuck and a bit Rusty, take notes. Writing down your questions will allow you to spend the time to gain the information you need later. Help others with their questions — not only with the answer, but also by explaining the “why” behind it. A full explanation will not only embed the information in that person so they most likely won’t have to ask again, but it will also help cement the knowledge even more solidly in your own mind. Plus, helping another person in any way is always one of the best things you can do to get unstuck! Get your creative juices flowing with art, music, journaling, meditation, a mindful walk, even dancing — anything that gets you out of your regular day-to-day rut. Finally, be sure to take care of yourself by getting enough sleep, eating as healthily as you can, staying hydrated, moving your body, taking physical and mental breaks throughout the day, and whatever else makes you feel grounded, strong, and motivated. We all have a “Rustyness” in us from time to time — but we can overcome, get back out there, and grow and progress even further than we ever have before!