4-Minute Read
Five County Credit Union Reaches The Unbanked Through Innovative Strategies
Motivated by relentless community care, Five County searched for a vendor to help continue expanding without adding extra burden to its staff. Enter Invo.
The Results
Multiple micro branches
Increased community outreach
Fully operational branches
without on-hand staff
About Five County
Founded as BIW Employees Federal Credit Union in 1956, Five County Credit Union originally served the employees of Bath Iron Works. In 1993, BIW converted to a state charter and finally rebranded to Five County Credit Union in 2001. Five County strives to deliver “true convenience” through modern and traditional banking services.
$358 Million+ in Assets
Since 2000, Five County has quickly expanded its portfolio, growing in asset size and continuing to grow as it expands into new markets.
29k+ Members
Originally serving Bath Iron Works employees, Five County branched out to help lower the number of unbanked people in Maine.
15 Branches
Five County has 15 branches across Southwest Maine, including micro branches and a Walmart location
Improved in-branch experience for members
Five County has 15 branches, an outlier in Maine. The credit union has always placed heightened value on being in the community. However, as a community credit union, finding the proper resources to have significant community presence is difficult.
The Challenge
Five County challenged Invo to help deploy a strategy that improved the in-branch experience for members without adding a heavy burden to their staff. Five County wanted to continue adding branches that made them more available to their members while staying operationally efficient.
Invo’s Solution
Five County deployed an in-branch solution, launching kiosks in each branch location. These kiosks allow them to serve members better after hours and open micro branches that give members more physical touch points than is typical for a community credit union.
“We want to help our members, no matter where they are or what their situation is.”
Daniel Leeman
AVP of Service Center
Five County Credit Union
Evolved online experience for members
Not only did Five County look to improve the in-branch experience and further expand in the community, but also wanted to become more accessible online. With members already acquainted with in-branch video technology, Five County set out to make those features available remotely.
The Challenge
Five County’s journey with Invo began by deploying in-branch video banking kiosks, continuing a rich history of technological innovation. However, with more and more banking done online, Five County asked Invo to deploy these features online in a way that evolved existing digital offerings and could be quickly learned and adopted by members.
Invo’s Solution
Thanks to Five County’s innovative spirit and a member base that trusted their financial institution, Five County rolled out web and mobile solutions that meshed with already existing offerings. Familiar with the in-branch video technology, Five County’s members discovered how quickly video calls connected, utilizing online features before Five County began marketing it heavily.
Bath, Maine, home of Five County’s
main office.
Rejuvenated operational experience for staff
Five County continued looking to expand and add new branches for members, even amid a hiring crisis. The credit union sought to provide excellent member service and be more accessible than ever without adding strain on its staff.
The Challenge
Five County needed a solution that would help get optimal efficiency out of existing staff. Five County challenged Invo to help deploy a solution that continued providing industry-leading member service but also cut back on staff inefficiencies and provided operational value beyond the member-facing platforms.
Invo’s Solution
Invo and Five County’s collaborative deployment strategy allowed staff to service all members, regardless of the branch they were stationed at. Through video banking technology, staff members at one location can assist other busier locations. Five County offers after-hours support at branches without any on-hand staff, with one branch operating completely staff-free.
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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