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As of the first half of 2022, roughly 132.6 million people consider themselves established credit union members. With so many people entrusting their finances to unions, it is more important than ever for credit unions to adopt and deploy innovative technology solutions to boost their operational efficiency.

The solutions attributed to credit union technology take many forms, from specialized software to the services offered by an IT support consultant experienced in assisting financial institutions. However, there are 5 solutions all credit unions should consider adopting to secure their future and strengthen bonds amongst credit union members.

5 information technology services and solutions credit unions should invest in:

1. Microsoft 365

Comprised of digital technology tools developed to support and enhance workplace processes, Microsoft 365 (M365) is a productivity suite hosted in the cloud. Microsoft’s productivity tools can be used to expand your team’s workspace, allowing you to serve your members efficiently from any location with a strong Internet connection.

M365’s solutions can serve as dynamic credit union technology in the following ways:

  • Word: Write reports and other documents for stakeholders and key personnel.
  • PowerPoint: Create and host presentations for meetings, credit union events, and more.
  • Excel: Create spreadsheets to track and analyze data, member information, etc.
  • Outlook: Manage and send emails within a secure environment.
  • Microsoft Forms: Gather feedback on member experiences to identify trends and find new opportunities to improve services.
  • Teams: Leverage communication methods—chat, video conferencing, and audio calls—to keep in touch with members and maintain respectable levels of transparency.
  • SharePoint: Pool information and data from across the union into hubs for easier management and heightened security.
  • And more.

The financial services performed by credit unions are paramount to people’s lives. M365 can help credit unions remain active and tapped into their duties. At the same time, with the aid of an IT support consultant certified in Microsoft 365, credit unions will be able to take advantage of Microsoft’s innovative technology solutions to improve member experiences while upholding the integrity of people’s information.

2. Customer relationship management (CRM) software

Frequently used by organizations across industries to monitor customer experiences, customer relationship management (CRM) software is a staple in the credit union technology space. CRM software helps credit unions collect, store, and analyze member information for various purposes, such as customer service, product management, and more.

Capable of being managed by an IT support consultant, CRM software gives users the ability to assess their customers’ satisfaction. In a credit union’s case, CRM software can be used to strengthen the bond between members and employees, ultimately helping you to deliver more personal experiences and comprehensive support services.

3. Digital payment software

With 15% of Americans going out without their physical wallets, credit union technology has expanded into the digital payment space. Digital payment solutions are software platforms that make it easier for users to access their finances and perform secure digital transactions. Not merely a technology trend, digital payments are a way for credit unions to stay competitive in the marketplace and meet the requirements of their members.

The right digital payment software should be able to support payments made by debit and credit cards, along with any transactions made via mobile banking apps. And with the assistance of an IT support consultant experienced in the finance industry, credit unions can easily integrate digital payment platforms into their operations, bolstering their processes with innovative technology solutions and the technical support they need to become an agile unit.

4. Mobile app

The cellphone’s presence in society cannot be underestimated, with 85% of American adults using smartphones. People want convenience from their service providers, no matter if they are credit unions or some other entity. All organizations should invest in a mobile app to digitize their offerings and bring their services directly to their audience.

A well-developed mobile app is not reserved for big banks. It can give members more control over their credit union, effectively improving the member experience. It can also give them unprecedented access to their finances, your service offerings, etc.

Mobile apps can be developed by a third-party developer, but it is recommended that credit unions work with an experienced IT support consultant to ensure that the app is configured to meet members’ needs and any legal regulations.

5. Managed services from an IT support consultant

When organizations acquire more innovative technology solutions, their IT infrastructures grow more elaborate. While in-house IT teams are capable of managing these systems, their expertise is better spent on tasks that will shift the company’s culture.

In these cases, managed services are a great way for credit unions to save money and ensure the security and functionality of their IT systems. Managed service providers (MSPs) assess clients’ networks before taking over the responsibility of their management and maintenance.

An MSP can offer you support in:

  • Structured cabling
  • VoIP
  • Cybersecurity
  • Consulting services
  • Digital transformation planning and deployment
  • And more

Credit union technology is highly specialized, and not all IT professionals have the experience to offer you the support your credit union deserves. An IT support consultant who services financial institutions can offer you support services that are compliant with your industry and are equipped to energize your organization’s growth.

Upgrade your credit union technology with a certified IT support consultant

Online banking is now the new normal, and credit unions have proven that they have the capability of adopting innovative technology solutions to improve their services and products for the well-being of their members. However, these tools need to be maintained regularly to avoid downtime and damaging your union’s reputation.

An IT support consultant from PWR Technologies can provide you with the supportive services you need to enhance operational efficiencies and secure your longevity. Experienced in credit union technology and having aided countless credit unions like yours, the IT support professionals at PWR Technologies are available 24/7/365 to ensure your systems and employees are optimized to lead present and future financial trends.

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