6-Minute Read
Great River Enhances Member Service Through User-Friendly Technology
Great River Federal Credit Union deployed new technologies and centralized staff without creating a daunting experience for their members.
The Results
4-to-1 desk-to-agent ratio
94% member
satisfaction
>80% wait time reduction
About Great River
Chartered in 1948 as Machinists Federal Credit Union, Great River expanded into other trades beginning in 1964 and has been growing ever since. Operating as Great River Federal Credit Union since 1999, Great River strives to “expand [their] footprint while providing exceptional service to members, whether it is in person or through our convenient online and mobile options.”
$300+ Million in Assets
Great River continues to expand its footprint in Minnesota and the greater Midwest area, currently reporting assets in excess of $300 million.
20K+ Members
Great River Federal Credit Union merged with two credit unions in 2022 and currently reports over 19,000 members.
9 Branches
Great River has seven branches in Minnesota, along with branches in North Dakota and Michigan. Each branch has 2+ video offices.
Create a seamless lobby experience for members
Great River wanted to deploy dynamic new technologies in their branches without overwhelming members. They wanted a lobby experience that wasn’t daunting, but normal and as easy as possible for the member.
At the time of deployment, Great River’s lobbies were experiencing wait times of over 10 minutes. With Invo, Great River wanted to decrease member wait times without overwhelming them with new technologies.
The Challenge
Invo’s Solution
Through the Invo Kiosk model, which replicates a traditional office for members, Great River implemented in-branch video banking technology that was both welcoming and normal for even their most hesitant members. This also led to a greater than 80% decrease in wait times, from over 10 minutes down to under two minutes.
“The driving factor is the technologies we use.”
Derek Rudolph
Chief Technology Officer
Great River was among the first Invo clients to deploy an in-branch solution, but they also offer a wide variety of other digital banking tools to their members.
Since partnering with Invo, Great River has deployed web and mobile-based video banking, as well as lobby management and self-service check-in through Invo Concierge.
Centralize staff to protect against unpredictable
lobby traffic
As a credit union with multiple branch locations, Great River found it difficult to best serve members and keep wait times down without hiring more staff. Their solution resulted in Great River’s new accounts and consumer lending teams serving all nine branches with just three team members each.
The Challenge
Great River staffed its branches with a new accounts and consumer lending agent in each branch. However, this meant that some agents would be idle while others were swamped, depending on the unpredictable traffic at their respective branch.
Great River wanted to centralize its new accounts and consumer lending staff to protect them against heavy lobby traffic.
Invo’s Solution
Through the video banking technology, Great River centralized its new accounts and consumer lending departments. Now, a three member team manages each department across all nine locations.
Not only did this improve working conditions for Great River’s staff, but it also resulted in a 4-to-1 desk-to-agent ratio. Great River saves up to $120,000 per year in FTE savings while simultaneously cutting wait times.
Integrate new technologies with existing technology
Beginning around 2016, Great River overhauled their digital offerings, revamping their mobile and web-based banking. They wanted to continue integrating new technologies that complimented the progress they had already made.
The Challenge
Great River needed to deploy video banking tools that could compliment their existing digital tools, such as their retail ITMs and a revitalized mobile app. They wanted to leverage solutions that fit into their existing strategic vision and wouldn’t require a tremendous implementation burden.
Invo’s Solution
Invo’s plug-and-play video banking technologies are built to stack on top of already existing work flows. This allowed Great River to deploy video banking without worrying about an extensive integration process for things such as electronic signatures or mobile device utilization.
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Have Questions?
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Hope Solomon
Solutions Consultant