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Choosing the right statement printing and mailing partner is a critical decision for any credit union or bank. It is one that affects operational efficiency, member or customer experience, and even marketing effectiveness.

Yet many financial institutions hesitate to make a change, worried about disruption, transition complexity, or simply the unknown.

We talked with InTouch Credit Union about their experience switching to LKCS for statement services.

In their own words, InTouch shares what prompted the move, what the transition was actually like, and what they’ve gained since partnering with us.

Whether you’re frustrated with your current provider or simply curious about what a better solution might look like, hopefully their insights and firsthand look at working with LKCS can help answer your questions.

InTouch Credit Union Shares Their Experience Switching Statement Vendors

Q: What prompted your institution to consider changing statement processors? Any challenges you were experiencing?

A: We were not pleased with the lack of innovation our then-current provider was providing or with their lack of interest in making the product more useful as a marketing channel.

Q: What concerns did you have before switching statement printing and mailing services?

A: As might be expected, we were concerned with ensuring there would be no disruption in our statement service. However, LKCS was so thorough and already had experience working with Fiserv (our core) so most of those issues were alleviated well before we contracted and the project kicked off.

Q: How would you describe the transition experience with LKCS?

A: Very easy. LKCS was obviously well-versed in statement conversion projects and guided us the whole way. We never felt like we were on our own or unsupported.

Q: What surprised you most about working with a new statement processor?

A: The process was so well organized and supported that we had no issues with the conversion.

Q: How much time and involvement did the transition require from your team?

A:We wanted to re-create the statement look and feel so there was more to the process than just switching providers. For that reason, there was more involvement on our part but not because there were problems or issues during the project. LKCS did a good job of minimizing any need on our part to work out any issues with our core provider. Again, LKCS had prior experience working with Fiserv so that helped both of us get through the project more quickly and easily.

Q: How did LKCS handle communication throughout the process?

A:I don’t think LKCS could have been more communicative. We had an appropriate number of meetings to ensure the project kept moving forward. The LKCS project lead kept us abreast of their work and reached out if anything was needed from us.

Q: How would you describe the quality and consistency of LKCS’ statement printing services?

A:In the 7 years they have been doing our statements I don’t think we’ve had a single material delay in getting statements produced or delivered. In the few instances that I remember any delay at all it was due to either the core provider or the check-clearing vendor being slow to provide files to LKCS.

Q: Have you noticed any improvements in statement mailing reliability or delivery?

A:We didn’t have much of a problem with reliability or delivery before moving to LKCS so that wasn’t a reason for switching. However, we’ve had no issues with either since moving to LKCS AND we gained a much better marketing channel so that’s a win-win.

Q: How has working with LKCS impacted your internal operations or workflows?

A:We haven’t had to be much more involved than before switching but because we are doing more marketing through LKCS-produced statements it does take a little more time. Across all staff that are involved, perhaps an hour a month to create/edit whatever we want to be an onsert or insert and to create any associated insert lists (if applicable). The tradeoff is well worth the ability to do it whereas before we could not.

Q: Have you received any feedback from members or customers about the statements?

A:Early on we may have received comments but that was a few years ago so not a lot is brought up anymore. I do not recall any complaints.

Q: What would you say is the biggest benefit of working with LKCS?

A:The willingness and ability to make changes and to accommodate our needs. Not that everything can be, or is, able to be done but LKCS proactively looks for ways to say “yes.”

Q: What would you tell another bank or credit union that’s hesitant to switch statement processors?

A:Talk to LKCS… I think you’ll find that they will quickly put your mind at ease and you will be pleasantly surprised to find they are more of a partner than a vendor.

As this Q&A makes clear, switching statement processors doesn’t have to be stressful. Having the right partner can make all the difference! If you’re feeling stuck with a provider that isn’t meeting your needs, or you’re simply wondering if there’s a better way, LKCS would love to have that conversation with you. Contact LKCS today to learn how we can help your institution streamline statement services, strengthen member communication, and make your statements work harder for you.