Credit Union Outsourcing FAQ

Commonly Asked Questions About Outsourcing Print and Mail for Credit Unions

What are the benefits of outsourcing print and mail services for credit unions?

The benefits include:

• Significant reduction in postage, production, and delivery costs
• Access to superior data security and handling capabilities
• Compliance with regulatory document-production practices
• Leverage of advanced electronic statement presentment and payment technologies
• Mobile optimization for multi-channel member communication
• Ability to focus on core competencies while experts handle document processing

How can outsourcing print and mail help credit unions save money?

Outsourcing helps credit unions save money by:

• Reducing costs associated with purchasing and maintaining expensive printing equipment
• Optimizing postage and envelope costs through co-mingling and inline postal sorting
• Eliminating the need for warehouse space to store paper stock and equipment
• FSSI helps credit unions reduce costs by leveraging high-volume discounts on postage and paper, passing on significant savings to our clients.

What level of customer support do you provide?

At FSSI, we pride ourselves on providing exceptional customer support. Each client is assigned a dedicated account manager who serves as your primary point of contact throughout the entire statement processing and mailing journey. Your account manager is readily available to answer questions, address concerns, and provide personalized assistance.

In addition to dedicated account managers, we offer a comprehensive support system that includes:

• 24/7 Online Support Portal: Access to a user-friendly portal where you can track job progress, view real-time reports, and submit requests or inquiries.
• Technical Support: A team of technical experts is available to troubleshoot any issues or questions related to data integration, printing, or mailing.
• Client Services Team: A dedicated team to handle general inquiries, provide updates, and ensure your overall satisfaction.
• Proactive Communication: Regular updates and notifications regarding your projects, ensuring transparency and keeping you informed.

Our goal is to establish long-lasting relationships with our clients, founded on trust, responsiveness, and exceptional service. We are dedicated to offering the support you need to ensure a seamless and successful statement processing experience.”

What file formats do you accept for statement data?

FSSI is equipped to handle a wide variety of file formats, including but not limited to:

• CSV (Comma-Separated Values)
• XML (Extensible Markup Language)
• TXT (Plain Text)
• PDF (Portable Document Format)
• AFP (Advanced Function Presentation)
• PCL (Printer Command Language)
• Mainframe files
• Medicode
• Postscript

If you use a format not listed here, please contact us to discuss compatibility.

What types of documents can be outsourced for credit unions?

FSSI can produce a wide range of documents for credit unions, including:

• Monthly statements (deposit, draft, savings, combined)
• Credit card statements
• Auto loan, line of credit, and mortgage statements
• Newsletters
• Regulatory notices and compliance letters
• Marketing materials and direct mail
• Annual tax forms
• Privacy mailings
• Loan offer letters and documentation
• Welcome letters or packages

How do you handle data security and confidentiality?

We prioritize data security and confidentiality at every stage. Our measures include:

1. Secure file transfer protocols for data transmission.
2. Encryption of data at rest and in transit.
3. Strict access controls limit data access to authorized personnel only.
4. Regular security audits and vulnerability assessments to identify and address potential risks.
5. Compliance with industry standards such as SSAE 18 SOC 2 and HIPAA.

What data retention and archiving policies do you have in place?

We follow strict data retention and archiving policies to comply with regulatory requirements and industry best practices. The specific retention periods vary depending on the type of data and applicable regulations, but we typically retain data for several years. Archived data is securely stored and can be retrieved if needed for compliance or audit purposes.

If you have any further questions about our data handling practices, please don’t hesitate to contact us. We are committed to protecting your credit union’s data and ensuring a smooth and secure statement processing experience.

Do you offer data mapping and transformation services to ensure compatibility?

Yes, we understand that each credit union’s data structure is unique. Our experienced team can work with you to map and transform your data to ensure seamless integration with our systems. We have expertise in handling various data formats and can accommodate your specific requirements.

How do you integrate with our existing core banking or data processing system?

We offer flexible integration options to connect with your core banking or data processing system. This can be achieved through secure file transfers (SFTP), APIs (Application Programming Interfaces), or other methods that align with your existing infrastructure. Our goal is to make the integration process as smooth and efficient as possible. FSSI also integrates with leading credit union data processing platforms. FSSI has experience integrating with all leading credit union data providers and platforms, including Jack Henry & Associates’ Symitar system.

What are your processes for data validation and error checking?

We have rigorous processes in place to ensure data accuracy throughout the statement production process. These include:

• Initial data validation to check for completeness and formatting errors.
• Data cleansing to correct or remove any inaccurate data.
• Automated error checks to identify inconsistencies or anomalies.
• Manual review by experienced staff to catch any potential issues missed by automated checks.
• Client approval of sample statements before full production to ensure data accuracy.

What types of inserts and enclosures can be included with statements?

We can include a wide variety of inserts and enclosures, such as:

• Marketing materials (promotional offers, product brochures)
• Regulatory notices or disclosures
• Loan applications or payment coupons
• Surveys or feedback forms
• Personalized letters or communication inserts

What eStatement platforms or software do you offer?

FSSI’s proprietary eStatement platform, eStreamOne provides a user-friendly way for customers to access their documents utilizing a highly-customized electronic presentment solution. From standard ePresentment services to the most robust and advanced, FSSI offers integration options and functionality to fit any resource and budget.

• Gain full control over ePresentment and functionality
• Provide easy access to stored print and electronic documents
• Meet business requirements with a fully customized user interface
• Send real-time alerts via preferred notification methods
• Receive fewer customer service inquiries

Can members easily access and view eStatements online or through mobile devices?

Absolutely! FSSI’s eStatement solutions prioritize ease of access for members. We ensure that eStatements are readily available through online portals or mobile applications, with intuitive interfaces and mobile-optimized designs. Members can securely access and view their statements anytime, anywhere, on any device.

Do you provide eStatement archival and search functionality?

Yes, we understand the importance of convenient record-keeping for members. Our eStatement solutions include robust archival and search functionality, allowing members to easily locate and retrieve past statements. This eliminates the need for physical storage and provides a convenient way for members to manage their financial history.

How do you ensure the security and privacy of eStatements?

Security is a top priority for FSSI. We implement industry-leading security measures to protect the confidentiality and integrity of eStatements. These measures include encryption, secure authentication protocols, and regular security audits. We also adhere to strict privacy regulations to ensure that member data is handled with the utmost care.

What options are available for notifying members about new eStatements?

FSSI offers a variety of notification options to inform members about new eStatements. These include:

• Email notifications: Automatic email alerts are sent to members when their new eStatement is available.
• Text message alerts: Members can opt to receive text notifications on their mobile devices.
• Push notifications: For members who use mobile banking apps, push notifications can be sent directly to their devices.
• Online banking integration: Members can view eStatement availability and access them directly through their online banking account.

Our goal is to provide credit unions with flexible notification options that cater to the preferences of their members, ensuring timely and convenient delivery of eStatements.

Do you offer printing options like full-color, MICR encoding, or specialized paper stock?

Yes, we offer a range of printing options to meet your specific needs, including:

• Full-color printing: High-quality, eye-catching statements that enhance member engagement.
• MICR encoding: Magnetic ink character recognition for check processing and payment automation.
• Specialized paper stock: A variety of paper options, including recycled or sustainable materials.

How does outsourcing print and mail improve member communication?

Outsourcing improves member communication through:

• Full-color digital inkjet printing for high-quality documents
• Personalized, targeted messages and imagery
• Multi-channel communication options (print, email, SMS)
• Document redesign services to enhance readability and effectiveness

What are the costs associated with outsourcing print and mail for credit unions?

We provide credit unions significant cost savings for credit unions through various methods:

• Presort discounts to reduce postage costs
• High-volume paper and envelope discounts are leveraged to lower material costs
• FSSI utilizes every USPS special program available to save clients on postage costs
• Overall production costs are reduced through bulk paper and envelope discounts and other production efficiencies

By taking advantage of these cost-saving measures, FSSI can significantly reduce postage, production, and delivery costs for credit unions compared to in-house operations.

How can outsourcing help credit unions with eStatement adoption?

FSSI offers comprehensive eStatement services, including:

• API, single sign-on, and fully-hosted online portals
• Electronic notifications and payment integrations
• Client-facing online reporting dashboard
• Optimization of eStatement layout, design, and readability

What marketing capabilities do print and mail outsourcing services offer?

FSSI offers integrated marketing solutions, including:

• Statement messaging for customized on-page communications
• Cross-media communications for multichannel marketing campaigns
• Personalized URLs (PURLs) and QR codes
• Variable data printing for personalized marketing materials

How does variable data printing work for credit union communications?

Variable data printing (VDP) revolutionizes credit union communications by allowing for the customization of each printed piece with member-specific information. This means that beyond just inserting a member’s name, VDP can dynamically adjust the entire content, layout, and even imagery based on individual member data.

Here’s how VDP benefits credit union communications:

• Hyper-Personalization: Statements, letters, and other mailings can be tailored to each member’s unique financial situation, preferences, and behaviors.
• Targeted Offers: VDP enables credit unions to present specific product recommendations or promotions based on a member’s individual needs and interests.
• Increased Relevance: Members receive communications that resonate with them, leading to higher engagement and response rates.
• Enhanced Member Experience: Tailored messaging demonstrates that the credit union values and understands each member as an individual.
• Cost-Effective Marketing: VDP allows for more effective marketing campaigns without the need for multiple print runs, saving resources and reducing waste.

By leveraging VDP, credit unions can transform generic communications into powerful tools that foster stronger member relationships and drive business growth.

What postage optimization techniques do you use to minimize mailing costs?

We employ various postage optimization techniques to reduce mailing costs, including:

• Presorting: Sorting mail by ZIP code and carrier route to qualify for discounted postage rates.
• Co-mingling: Combining mail from multiple clients to achieve higher mail volumes and qualify for bulk mail discounts.
• Intelligent Mail Barcodes (IMb): Utilizing IMb technology to track mail pieces and optimize delivery routes.
• Negotiated rates: Leveraging our relationships with USPS and other carriers to secure competitive postage rates.

How do you track and manage undeliverable mail?

We offer comprehensive return mail services to handle undeliverable mail. This includes:

• Address correction: Updating addresses in your database based on forwarding information.
• Return mail processing: Sorting and analyzing returned mail to determine the reason for non-delivery.
• Reporting: Providing detailed reports on undeliverable mail, including reasons for return and recommended actions.
• Compliance: Ensuring compliance with USPS regulations regarding address changes and move updates.

How do outsourcing companies ensure accuracy in statement printing?

Ensuring the accuracy of member statements is a top priority for FSSI. We employ a multi-faceted approach that combines technology, rigorous quality control processes, and experienced staff to deliver error-free statements every time.

Here’s how FSSI guarantees financial document accuracy:

• Advanced Technology: We utilize cutting-edge inline camera technology to verify the integrity of each unique piece, ensuring that the right documents are inserted into the correct envelopes.
• Data Validation: Before printing, we perform comprehensive data validation checks to catch any discrepancies or errors in the information.
• Proofreading and Review: Our experienced staff carefully proofread and review statement proofs to ensure accuracy in formatting, calculations, and content.
• Quality Control Checkpoints: We have multiple quality control checkpoints throughout the production process to catch any potential issues before statements are mailed.
• Post-Production Audits: We conduct random audits of printed statements to verify accuracy and consistency.
• Client Collaboration: We work closely with our clients to establish and maintain clear communication channels for addressing any questions or concerns regarding accuracy.

FSSI’s commitment to accuracy goes beyond just technology. Our people are our most valuable asset, and their expertise and dedication ensure that every statement we produce meets the highest standards of quality and accuracy.

What technology do print and mail outsourcing companies use for credit unions?

FSSI uses various technologies, including:

• Full-color digital inkjet printing
• Inline check image printing
• eStatements, Electronic Payment Integration and eDelivery
• Variable data printing technology
• Online workflow and job approval dashboard

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

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, such as CUNA, The Credit Union Journal, and Credit Union Magazine. 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.

Are you new to outsourcing or looking for a new provider? Take advantage of FSSI’s pioneering leadership and 40+ years of credit union statement processing experience. Call 714-436-3300 today for no-obligation document production or data conversion consultation, or contact a credit union specialist with your specific questions.