Case Study: RiverLand Federal Credit Union Goes Virtual and Reduces Costs with WRG

“We really liked that WRG is a CUSO and has a close relationship with Wescom Credit Union and other cooperatives. WRG has insight into the daily operation of credit unions and what’s important to the membership, as opposed to other online banking companies that simply develop software. I enjoy working with a vendor that knows how credit unions work.”

– George Lunsford, VP of Information Technology

BACKGROUND

Based in New Orleans, LA, RiverLand Federal Credit Union serves 14,682 members along the Gulf Coast of Louisiana, Mississippi, and Texas. Founded in 1978, RiverLand serves the employees of energy company Entergy and other select employer groups (SEGs) through its eight branches, most located at or near Entergy facilities.

RiverLand has been a Wescom Resources Group (WRG) client since 2010. Today, it uses WRG’s Symmetry eBanking suite of mobile and online banking solutions.

CHALLENGES
  • Member Convenience: A key goal for RiverLand was to offer members the ability to access their accounts remotely, conveniently, at any time, and from any location.
  • Rising Costs: Like many financial institutions, RiverLand faced rising staffing, overhead, and regulatory compliance expenses. To combat this, the Credit Union sought a solution that would drive down per-transaction costs and reduce manual processes.
  • Stagnant Membership Growth: With a captive SEG-based membership model, RiverLand’s growth opportunities were scarce. To serve its current members and grow its reach within its employer sponsors, RiverLand needed to move its core services beyond the branch.
  • Competition: Today’s consumers enjoy nearly unlimited choice among financial services providers. To stand out from the pack, RiverLand sought differentiation through outstanding member service and convenient, easy account access.
THE SOLUTION

Following an intense search and thorough due diligence, RiverLand implemented WRG’s Symmetry mobile banking app in 2010. When its prior online banking contract expired in 2013, RiverLand also decided to switch to WRG’s Symmetry online banking solution.

Beyond the critical factors of price, value, functionality, and design, RiverLand’s selection of WRG was heavily influenced by the vendor’s long-term vision and focus on continuous improvement, and the fact that the credit union philosophy of “people helping people” is fully baked into its DNA.

THE RESULTS

Find out how WRG’s Symmetry eBanking helped RiverLand Federal Credit Union seamlessly integrate with the core, enable their programmers to have more control, provide members with a great digital experience, lower operating expenses, and more! View the complete case study today!

Case Study: RiverLand Federal Credit Union Goes Virtual and Reduces Costs with WRG | PDF Document


About Wescom Resources Group

Backed by Wescom Credit Union, one of the nation’s largest credit unions, with nearly $3.9 billion in assets and serving more than 200,000 members, Wescom Resources Group provides credit unions with advanced technology solutions that increase their competitive edge. With over 130 clients, WRG is a leader in innovative technologies for the credit union industry. Through its Symmetry eBanking suite, WRG offers an integrated digital channel solution that includes Online and Mobile Banking, Bill Pay, eAlerts, Multi-Factor Authentication, Member-Directed ACH, online account opening and more. WRG also offers one of the most robust Service Bureau solutions in the credit union industry. WRG’s Tellergy® solution provides branch automation for today’s modern credit union. For more information, visit wescomresources.com.