Bishopstown Credit Union
Bishopstown Credit Union...
About Bishopstown Credit Union
Bishopstown Credit Union is a cornerstone of its community in Cork City. It provides a range of financial services to 25,000 members, including savings accounts, loans, insurance products, bill payment facilities, international transfers and online banking. As a financial cooperative, communication is an integral part of the connection with its members. Each day the credit union posts out a range of letters to members such as annual statements, AGM notifications, alerting members if they’ve slipped into dormancy status, marketing updates, and so on.
Documents are seamlessly transferred to the Neopost solution and securely routed to a stateof-the-art mail preparation facility for printing with no manual intervention.
Full audit trail so post can be tracked easily
Helps ensure GDPR compliancy
62 cents per envelopeReduction in postal rate from 95 cents to
value-add, core dutiesprocess so staff are free to focus on more 3 hours saving a day from old, menial mailing
100% data integrity and security so mailshots are always delivered to the right person
To fulfil this postal operation, the credit union had a time consuming, manual process. On any day, there could be 50 to 200 annual statements printing. On average, the credit
union posted approximately 10,000 items per month. As a rule of thumb, it takes an hour to put 100 letters/ statements into an envelope, which translates into a huge chunk of staff labour. In addition to managing their daily workloads, each of the credit union’s tellers had the responsibility of processing large volumes of post, including individual member annual statements. These annual statements are processed daily on the anniversary of the member joining the credit union, and were printed locally on a large centralised printer. When statements were printed there was no indication when one had finished and the next began, other than by visual inspection, which wasn’t a failsafe operation with such large volumes involved. “That wasn’t satisfactory from a risk point of view because a statement could go to the wrong member,” explains Brian Dennehy, Operations Manager, Bishopstown Credit Union.
“Things are very busy at the counter. Our tellers are focused on the important duties such as reconciliation and serving our members whilst ensuring up-to-date identifications, proof of address, and queries from members about our products and service offerings. So to have our staff members folding statements was not a productive use of their time.” There was also an administrative burden when it came to stationary, which had to be constantly monitored. The office’s printer, for example, had to be in prime working order each day to fulfil such a heavy workload, with adequate toner. Any machinery malfunction caused a nuisance, and could necessitate a service charge call-in.
"The whole printing of these documents was just a headache, and it took a lot of management."
Brian Dennehy, Operations Manager, Bishopstown Credit Union
In order to automate this printing and mailing operation, and to find a more secure process, Bishopstown Credit Union engaged Neopost. It implemented OMS-500, Neopost’s Multi-Channel Output Management Solution, which was quickly deployed. It chose to partner with Neopost as it was an existing supplier, and the credit union was impressed with the elements of its “smart” technology solution. The new system has transformed the way the credit union manages its outgoing correspondence.
Instead of printing directly to an internal printer, the statement run is now seamlessly passed from the Credit Union’s Portfolio Plus system into the Neopost OMS solution, which does all of the hard work – automatically sorting, fi ltering and preparing documents for their onward journey, a job previously carried out manually by staff . OMS then selects the relevant output channel, which provides a secure web-based platform to transport and track each mailpiece in real time, from submission through to the postal system. Each of the credit union’s communications has a unique barcode so they can be tracked through each step of the printing and enveloping process.
There is a date-and-time stamp when a document is received; one when a document is printed; one when it is inserted into an envelope; and one when it is handed over to An Post, Ireland’s postal service. The credit union gets a report to monitor how many letters went out using the easy-to-use but powerful dashboard reporting features available from the Neopost Web Platform. “One of the great things within OMS is the filtering process,” says Mr. Dennehy. “For example, we would have had statements for somebody and they may never have used that account for 12 months so we’d get a blank page. Those blank pages would have to be pulled out on a manual basis by the tellers. Neopost can filter those blank pages out automatically.”
"We’ve always been very happy with Neopost. We’ve been happy with the service they provide, their pricing, and their staff are excellent – they’re really easy to deal with, and always at the end of a phone call when you need them. It’s important to have a business relationship where you can trust the people you do business with – that you’re not just seen as a customer but that it’s a partnership.” - Brian Dennehy, Operations Manager, Bishopstown Credit Union
The credit union also had internal accounts for creditors – such as electricity, gas, IT suppliers, and stationery companies – that it never wanted post to go out to. The credit union’s old manual process, however, produced statements for those accounts. OMS-500 is able to filter these out, and intelligently isolate any blank pages that would have typically printed in the old system when a statement ran to several pages of transactions, which was a waste of paper. “It’s a lot more streamlined now. We‘ve more control over what goes out,” says Mr. Dennehy.
This greater measure of control has an impact financially. The credit union has been able to achieve a better postal rate because its monthly batch rates are so large – the credit union used to frank its envelopes at 95 cents per unit; Neopost is now able to get a postal rate of 62 cents from its factory distribution system for the credit union. The credit union has also gained from other measurable improvements. “Being able to allocate staff members to focus on a more productive use of their time is defi nitely of huge benefi t to the organisation,” says Mr. Dennehy. “We’re probably saving each teller 30 minutes to an hour each day. We have fi ve tellers so you’re talking about a saving of nearly half a day’s work for somebody each day.”
“The transparency from the Neopost solution is magnifi cent,” adds Mr. Dennehy. “Before when we printed a statement obviously we left a trace on the member’s account that we sent the statement out, but that was as far as it went. “Now with the new interface, everything is transparent. We can see how many documents we printed, how many were rejected, what were the ones that Neopost fi ltered out, the people they went out to, what statements were returned and what ones were delivered successfully. “The contents of the document are all on the system. And we have the full flexibility of being able to store those for whatever period of time the credit union wants to. From a document management point of view, and the ability to get information to the member if queries arise, we’ve gone from driving a Mini around town to driving a Formula One car.”
"We’ve gone from driving a Mini around town to driving a Formula One car.” - Brian Dennehy, Operations Manager Bishopstown Credit Union
Bishopstown Credit Union is looking to extend the solution to other areas by utilising the other OMS-500 output channel possibilities so members can pick and choose how they interact with the institution. The confi dence the credit union has in its new platform – with the guarantee now that the right document always get to the right person – is invaluable.
“We have greater peace of mind that our members’ security and data is protected to the utmost. From looking at the process, where our documents are now sent from, I can’t see a flaw in the system. Before we introduced Neopost, we spent a lot of time in the office trying to see what downfalls and risks there were, and what threats there might be to our members’ security and to our data. Since implementing the Neopost solution these risks have been mitigated, it’s a fabulous system and I’ve every confidence in it.” Brian Dennehy, Operations Manager, Bishopstown Credit Union.