Technology

Special Report, Part I: Technology Best Practices

Debit debacle leads CU to a homegrown solution.

October 29, 2010
KEYWORDS credit , staff , technology
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An overwhelming task

Six weeks after the conversion, the credit union completed the research required to determine the steps for obtaining an accurate reconciliation.

Solving the problem would require gathering transaction-level information daily from five different data files, each of which typically contains more than 40,000 transactions.

That ruled out manual reconciliation as an option because it would be an overwhelming task, similar to attempting to find sets of matching needles in several different haystacks.

Instead, a software solution was demanded.

A software solution

Credit union staff began working on a software application capable of automating the reconciliation process while also identifying errant transactions.

The software application acquires and compares data from international service assessment, bank identification number, and ATM files to create a combined exception list, as shown by this diagram:

Technology best practices

After Envision deployed its custom reconciliation application, the EFT and accounting staffs were able to perform documented reconciliations back to the beginning of the conversion and up through the current date.

The software solution effectively resolved a situation that otherwise could have resulted in membership losses and other negative consequences.

Like the Little Red Hen, the staff at Envision Credit Union found that sometimes the only real solution is to solve the problem by yourself.

View the full entry [pdf] and visit the CUNA Councils website to learn more about the CUNA Technology Council and the Best Practice Awards.

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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