Annual Report 2013 – Planning for the Future
Posted on Jun 24, 2014
If there would be one phrase to describe 2013, it would be “Preparation for Launch”. After several years of planning, 2013 was the year that your credit union began putting plans into action that would launch Notre Dame FCU into becoming a national credit union capable of serving our members in all 50 states.These preparations impacted every aspect of your credit union. Let me highlight a few of the significant events:
Data Center Conversion
During 2013, we transitioned to a virtual data center that contains all of our data and information, providing us with significant efficiencies as well as nearly unlimited bandwidth capability to serve our members nationwide. This was the required backbone needed to execute an effective national presence.
Enhanced Member Service Training
We changed the reporting structure in our branches for 2013. This change allowed us to put more emphasis on talking to you, our members, so that we can solve your issues on the spot. The ability to proactively assist you with your financial needs is a member service level that is of paramount importance as we move forward.
Our Shamrock Call Center was further enhanced in 2013, making it even more convenient for you to interact with us, whether online or on the phone. This past year, we significantly increased staffing and training in order to match skyrocketing member usage.
Core Conversion Preparation
In 2012, the decision was made to update our core processing systems to CU Answers on April 1, 2014. As a result of that decision, significant resources were invested in 2013 to prepare for this significant event. There were many anticipated one-time costs expensed in 2013, but the investment was critical to ensure our conversion went smoothly.
While all of this preparation was underway, our underlying mission to serve our members continued robustly. In 2013, your credit union originated over 600 first mortgages, totaling more than $95 million. In addition, over 2,200 new and used auto loans were funded, totaling more than $38 million. Together with credit cards and other loans, your credit union saved millions of dollars for our members. I hope that you were one of them!
Going forward, the results of our launch will become visible to all. Expect to see faster loan decisions and a more integrated online banking, including more robust bill pay and mobile banking solutions. In addition, a remote deposit capture (RDC) feature will be introduced to make depositing checks into your account an effortless process. While there are even more enhancements coming, this should give you a sense of what is on the horizon.
These are very exciting times for Notre Dame FCU, and in 2014, you will be able to see the fruits of the labor invested in 2013. While the year 2013 was the “Preparation for Launch”, 2014 will be the year of transformation.
Thank you for your continued loyalty and commitment to your credit union. It does matter where you bank, and together there is much we can do!
Thomas J. Gryp