Everything is becoming more and more digital. Many businesses now build the option of receiving a paper receipt, email receipt, or both into their transactions. The convenience of receiving and filing receipts digitally is expected. With easy integration in Episys, and so many reasons that offering eReceipts is beneficial, credit unions should consider adding this to their member offerings today.
The Power of Episys
At your credit union, the power to offer this convenience to your members already lies in Episys. At Synergent, we are seeing a dramatic increase in the usage stats of eReceipts by our partner credit unions. Genesee Valley Federal Credit Union, headquartered in Geneseo, NY, increased its eReceipt distribution from 71 eReceipts in December 2017 to a whopping 1,079 eReceipts in January 2018! How did they do it?
“We talked to members and sent them an email receipt, as well as giving them the printed copy,” shared Terri Kershner, Vice President of Information Systems and Operations at Genesee Valley FCU. “Most members were telling us they did not want one, but we found if we sent them one and let them look at it, they found it pretty neat. Our conversation is less about asking and more about saying, ‘We have this new feature and I sent it to your email address.’”
The proof is in the programming. Members can opt to choose eReceipts as their default, or a printed receipt, or both, and the preference is retained in Episys for future transactions!
Benefits for Credit Unions
eReceipts are so much more than a transactional record. There are many benefits to credit unions in adding this feature to their lineups:
- Lower Costs: Receipt paper, ink, printer maintenance, and postage costs are a few places that credit unions can save money by offering eReceipts. Anything that is traditionally mailed to a member can now be emailed (night deposits, mail transactions, phone transactions).
- Modern Practice: With so many digital advances, it’s easy to be behind in delivering credit union products and services to members through the channels they expect. eReceipts meets demands and exceeds expectations.
- Marketing Opportunities: eReceipts can contain so much more than just transactional information. Marketing messages can be included. What is possibly the most valuable feature of eReceipts is the opportunity to obtain and update member email addresses!
Synergent Can Help
Do you want to get started on implementing eReceipts at your credit union? Contact your credit union’s Account Relationship Manager today for more information.