International Credit Union Day: Our Favorite Things About the Industry

October 19 is International Credit Union Day, and EPL is excited to celebrate! Credit unions are powerful and positive forces in their communities, and the service with which they provide their members is unique. We are proud to play a part in helping credit unions and members alike achieve their business and financial goals.

In honor of International Credit Union Day, we have compiled a list of a few of our favorite things about the credit union industry:

1. The members. Credit unions wouldn’t be successful – or even exist – without their members. The people who choose to trust credit unions with their finances make working in this industry special. Credit unions take immense pride in serving members well because they are more than just “customers” – they are the ones in the driver’s seat.
2. The mission. Prioritizing members over profit sets credit unions apart from other financial institutions. By providing competitive rates and empowering members with the financial information they need to make the best decisions, their interests are served over all others. Everyone in the industry works toward a common goal: financial health.
3. The community. By joining a credit union, members choose to be part of a community of like-minded individuals that value service and transparency above all else. Credit unions have a personal connection with their members. Other financial institutions simply aren’t as involved in their local communities as credit unions.
4. The innovation. The industry has seen immense innovation in the last few years, and it shows no signs of slowing. Mobile banking continues to be a game-changer. Data integration is giving credit unions more functionality than ever before. Business intelligence is allowing credit unions to tailor recommendations to their members’ needs. These are just a few ways in which credit unions are continuing to provide optimal service and meet members where they are.
5. The growth. The credit union industry continues to be a powerful player in the financial services space. According to CUdata.com, credit unions are experiencing a positive trajectory in multiple areas. The 12-month growth rate for membership is 4.2 percent. Member business lending has grown an unprecedented 16.8 percent in the last year. People are continuing to look to credit unions to meet their individual and business needs.

We are thankful to our credit union partners and their members for allowing us to work with them each and every day. We look forward to continued success together. Join us in celebrating our great industry!

EPL Staff

EPL, Inc.

Celebrating our customers on International Credit Union Day

               

International Credit Union Day has been held on the third Thursday of October since 1948. This day of recognition gives us a chance to reflect on our industry’s history, acknowledge credit union accomplishments worldwide, and celebrate milestones as the industry continues to grow its member base year-to-year. At EPL, we use this day to honor our outstanding credit union customers, show our appreciation for all the hard work that they do, and express gratitude for the opportunities they give us each day to provide excellent service through our core software and technology solutions.  

To commemorate this day of well-deserved recognition, we wanted to share five of our favorite things about working with our credit union customers: 

1. Credit unions provide spectacular service to their members, making it a delight to work together as partners. Last year’s American Customer Satisfaction Index revealed that credit unions received an 85 percent customer satisfaction score. Great customer service makes for great satisfaction, and therefore great results. At EPL, we operate under a business model that puts customer satisfaction at the top of our priority list. In fact, through our i-POWER® system, credit unions can expect first-rate customer service with an 85 percent first call issue resolution – a mirrored figure, indicative of our shared values. 
2. Credit unions embrace innovation. The credit union industry has made a steadfast commitment to invest in advanced, competitive technology solutions in order to keep pace with increased market demand. Similarly, EPL works to constantly develop and refine innovative solutions for our credit union customers by delivering high-tech efficiencies, including a modern, open-architecture core system that provides choice access to a connection suite of products and services. 
3. Credit unions care deeply about their communities. Credit unions recognize that some people deserve a fresh start or someone willing to take a chance on them, which is why they provide flexibility to their new members. Many credit unions offer first time buyer loan programs to younger members who have no credit, or fresh start auto loan programs to individuals who might need a second chance to rebuild their credit. Others operate in low-income communities, whose citizens have limited or restricted access to financial services. EPL also believes in helping communities that need it the most, and one of its recent ventures is focused toward creating technology solutions to meet the unique needs of this market segment.
4. Credit unions give members a stake in the company. When you join a credit union, you aren’t just a “client” like you are at the bank—you’re a member with an ownership stake. At EPL, we operate under the same philosophy. From the start, EPL has been owned by its credit union customers, including the League of Southeastern Credit Unions, ensuring that we always provide products and solutions that truly serve our credit unions’ needs.
5. The credit union movement is growing. According to the National Credit Union Administration, in Q2 2015, membership in federally-insured credit unions topped 101million, with three million new members since Q2 2014. An increased member base means an increased demand for core solutions that not only help retain current members, but also continue to attract new members as we move into 2016. At EPL, we’re growing rapidly too. Earlier this year, we had a multimillion dollar investment from Dedagroup NA, the North American subsidiary of the Italian IT services group, Dedagroup ICT Network. This has enabled us to continue to produce new, innovative solutions to meet member demand and exceed customer expectations.

The list goes on—simply put, we are honored to serve our credit union customers, and we thank you for being such wonderful partners. Today, and every day, we celebrate you. 

EPL Staff

EPL, Inc.