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BluCurrent Credit Union Deploys First-Ever Video Banking Experience
Through a strategic partnership with Invo, BluCurrent enhanced their digital banking operations, contributing to their resilience during the recent economic challenges, including those posed by COVID-19.
The Results
3-to-1 Desk-to-Agent Ratio
First ever in-branch video banking solution
>50% Wait time reduction
About BluCurrent
BluCurrent Credit Union began as Springfield Postal Employees Credit Union in 1929, re-branding to BluCurrent Credit Union in August of 2011. BluCurrent is approaching 100 years of business and currently serves over 22,000 members. They serve a member base with over $300 million in assets across four branch locations, including a state-of-the-art microbranch with four video banking offices. They have a singular goal: Building Better LIves Together.
$300 million+ in Assets
as a member-owned and not-for-profit institution, BluCurrent offers “unbeatable” loan options for “every life stage” and nationwide ATM fee refunds.
20k+ Members
BluCurrent serves a 10-county area of Southwest Missouri, as well as several Select Employee Groups.
4 Branches
Along with four physical branches, BluCurrent members have access to more than 5,000 shared branches and nearly 30,000 surcharge-free ATMs.
Increase Branch
Staff Efficiency
Staffing is a problem for financial institutions around the United States. BluCurrent wanted to continue serving their members, even when they didn’t have as many employees in the branches or simply couldn’t find qualified candidates to hire.
The Challenge
In the wake of a pandemic that saw millions of jobs lost, over four million more Americans quit their jobs in June of 2021. This led one bank CEO to claim he had “never see labor shortages at this level” in his 40+ years of experience. BluCurrent needed to find a way to address its staffing shortages without any service stoppage to members.
Invo’s Solution
Through digital banking tools such as in-branch and online video banking, BluCurrent centralized the employees it had and was able to see up to 3-to-1 FTE gains. That means for every three teller windows and offices in the branch, only one employee was needed.
“You can see the convenience.”
BluCurrent Credit Union
Director of Branch Services
Kaitlyn
Peoples
BluCurrent was the first credit union to deploy Invo tools, implementing in-branch, web, and mobile video banking options for its members.
BluCurrent has also deployed other digital banking solutions, such as co-browsing, lobby management, and appointment scheduling, as well as SMS text and chatbot features.
Enhance the
member experience
For BluCurrent, adding digital banking tools was about more than just solving problems. It was about enhancing the overall member experience. BluCurrent set out to do that through superior digital experiences. This unique desire led them to Invo.
BluCurrent’s challenge to Invo was to create the first-ever video banking platform. However, that challenge quickly evolved into far more than video banking. They challenged Invo to provide a suite of digital tools that were both user-friendly and fiscally efficient.
The Challenge
Invo’s Solution
BluCurrent became the first credit union to deploy an in-branch video banking solution through Invo Kiosks. This evolved into agents completing complex transactions through document capture and electronic signature, members speaking agents without coming into a physical branch, and the deployment of other digital banking tools such as texting, scheduling, and chatbot features.
Make digital interactions easier for you members.
BluCurrent didn’t just want new technologies. They wanted new technologies that were seamless and user-friendly. That goes beyond a simple video call. BluCurrent needed its digital banking tools to go a step further.
Over 80% of users abandon complex online forms without help from an employee, according to recent nationwide studies. BluCurrent needed to make digital interactions easy for members so that they could finish digital transactions without needing to come to a branch.
The Challenge
Invo’s Solution
To combat high abandonment rates, Invo created its own co-browsing tool, which allows agents and members to view and interact with the same screen simultaneously on a video call. Co-browsing also sees annual sales growth of up to 8%.
Free eBook
Customer Satisfaction in a Digital World
✓ Learn how to overcome hiring & staffing struggles with digital tools.
✓ Discover solutions that deliver seamless on-screen experiences that are proven to cut wait times in half.
✓ Find out why features like Co-Browsing increase customer satisfaction
Have Questions?
Schedule a time to chat with our Solutions Consultant and find out how we can help. Our discovery calls are consultative, not salesy, because we want you to succeed.
Hope Solomon
Solutions Consultant