Credit Unions
Industry Focus: Credit Unions
Diamond offers unique advantages to our credit union clients
We believe that the process of financial communication should meet the informational needs of credit union members and their families by effectively highlighting their key financial transactions and obligations. We help our credit union clients deliver enhanced statement designs that communicate to the member in a manner that is clear, concise, and correct. Our technology and services allow us to deliver exceptional solutions to fit your statement delivery communication requirements.
Accuracy. At Diamond, 99% correct equals 100% wrong. Statements carrying personal information will match page-to-page, and you can rest assured that each critical business document is being delivered to the correct member. We understand that your member relationship is on the line, something that you've worked hard to build.
Speed and Efficiency. Diamond is experienced in working with all widely used core processors and home banking solutions, enabling us to transition your existing program to one of our facilities quickly.
Data Handling Expertise. We are compliant with Payment Card Industry (PCI) Data Security Standard V1.2, and our eStatement Module is SOC2 compliant as well. This means that we are held to the highest data security standards available today. With more than 25 full-time programmers on staff, we create custom programs in an environment that enables your critical member programs to run flawlessly.
Smart Marketing. Our Credit Union clients have seen statement inquiries by members reduced by as much as 50% after working with us to reformat to a Member Friendly design. We will help you leverage every touch point by targeting messages to specific members, allowing you to educate, cross-sell and retain your members. By developing relevant and personalized communications, we can help you stay top-of-mind and maximize your member satisfaction and retention.
Learn more about our credit union solutions and credit union experience to see how Diamond can handle your critical document deliveries to help you build stronger relationships with your members.
Diamond Credit Union Solutions
Working closely with our credit union clients, we have developed successful mail and electronic communications programs that are highly personalized and relevant to each individual member. Diamond can function as an extension of your credit union’s internal team to deliver solutions that meet your goals of reducing the cost of servicing your members and their families while leveraging every contact point with personalized messages. Diamond credit union solutions include:
- Statements
- Daily Notices
- Loan Coupons
- 1098/1099/5498 Statements
- Membership Cards
- Marketing Communications
Statements
To enable our credit union clients to deliver statements via the internet or print and mail, Diamond supports data from all widely used core processors and interfaces with many home-banking platforms for statement production. We can work with your existing statement format, help you choose from several statement templates we have available, or create a custom layout specifically for your credit union, with design recommendations based on our experience that result in an easy-to-read statement that is also cost-effective to produce.
Diamond can also increase the marketing value of your member statement by processing them in a variety of formats:
- Imaged in black or full digital color
- Programmed to include dynamic, precision messages and transpromotional communications based on criteria you specify
- Uses intelligent inserting to allow marketing pieces to be included in all packages or selectively included
eStatements. Did you know that electronic presentment of member statements costs only $.25 for every $1.00 spent on delivering those statements via print and mail? With Diamond’ turnkey solution, you can begin providing eStatements in just a few short weeks. It does not require a large financial or technological commitment on your part and you do not have to worry about hardware or software capital investments.
Diamond can deliver your eStatements as exact images of your members’ paper statements within hours of receiving your files. Your eStatements are hosted on a secure server and can be accessed by registered members through a link from your home-banking platform. All marketing materials can be made available to view online.
Key benefits of offering eStatements include:
- Saving money by reducing paper, printing, and postage costs.
- Greater visibility for marketing initiatives when delivered in PDF format.
- Enhanced member satisfaction with speedier delivery of statements.
- Competitive advantage with market leadership of eStatement adoption.
- Improved cross-sell ratios through interactive on-line marketing.
- Increased website activity due to the registration process and marketing links within the eStatement application.
Archiving. Need to produce a duplicate member statement? Diamond can provide a monthly archive in PDF format of all delivered statements. Choose from CD-ROM or Internet/Intranet delivery. Your electronic copies can also be sent directly to members and serve as backup and proof of statement content for audits and/or lawsuits.
Package Integrity. Credit unions demand that the proper document must always go to the correct member. At Diamond, we have standard operating procedures, quality control processes, and technology in place to ensure 100% accuracy, 100% of the time.
Turnaround Commitment. Paper statements are printed and mailed between 24 and 96 hours after file receipt, based on an agreed-upon mail date. Our secure FTP servers are available 24/7 to ensure timely and secure file delivery.
Technology. As a technology-driven organization, Diamond automates various steps in the statement process to eliminate errors and provide faster turnaround times to credit unions. We have developed proprietary tools to manipulate the entire transaction detail of original print formats. Our system allows input from any print image and source data file to be filtered, combined, and processed into data fields suitable to template layouts.
Daily Notices
In addition to accepting standard print files from your core software applications, we have developed programs to deliver a wide variety of daily financial communications to your members via the Internet or print and mail. Here is a sample of notices and letters that we deliver for our credit union clients:
|
|
Loan Coupons
Diamond offers a cost-effective, simple, and reliable solution for producing loan coupons. We can process data from your core processor to match your existing loan coupon format, help you choose from several loan coupon templates we have available, or create a custom layout. Our software supports the processing of loans with different payment periods and renewals.
1098/1099/5498 Statements
With year-end compliance statements, timing and accuracy are everything. Diamond will seamlessly interface with your existing core processor and deliver your 1098/1099/5498 statements on time, year after year. The 1098/1099/5498 statements can be mailed or delivered electronically to your members. Here are the information reporting statements that we support:
|
|
|
Membership Cards
Issuing membership cards to your credit union members can help solidify your relationship with them and build credibility for your institution. Diamond can produce membership cards in a variety of formats, from personalized plastic cards tipped onto welcome letters to fully integrated, laser-compatible welcome member forms. We will work with your team to customize a package that suits your image and budget.
Marketing Communications
Each member’s statement is a reflection of their buying habits and an indication of their future needs. Diamond has intelligent applications that allow a marketing department to target member behavior within the statement and combine transaction information with transpromotional messaging. Diamond can also insert specialized on a global or targeted basis.
Direct marketing is an excellent way to boost your cross-sell or up-sell sales drive. Our team of experts can design a full campaign for a specific sales event or help you plan an entire year's worth of promotional communications designed to motivate your members to do more business with you. Our marketing communications programs include:
- Member Acquisition
- Member Retention
- Member Winback
- Cross-sell/Upsell
Diamond Credit Union Experience
Diamond has more than 20 years of experience in providing critical business communications for credit unions of all sizes, all across the country. You can benefit from one of our standard template processes or allow us to customize a solution to suit the unique needs of you and your members. Whichever you choose, Diamond will enable you to reduce the cost of servicing your members while helping you leverage every contact point by delivering personalized, precision messages.
