Virtualization allows credit unions – along with any organization that requires the use of multiple servers – to save money, time and space to reallocate to other pressing areas.Let’s talk about server virtualization first, as it has a direct bearing on the cloud. Virtualization by definition means replacing something physical with something virtual, or in other words, switching out a tangible for an intangible. With respect to technology and your credit union’s current physical server environment, it means decreasing the number of physical servers to fewer machines but having the ability to run multiple “virtual server instances” on them instead. ****READ MORE: Virtualization and the Cloud: Magical Technologies that Benefit CUs from the Get Go:
Credit unions spend enormous amounts of time, energy, and marketing dollars trying to acquire new members. But many institutions — especially sponsor-based first responder credit unions — are sitting on one of the most valuable growth opportunities already inside their existing membership base. The joint owner population. Every day, firefighters, police officers, EMTs, dispatchers, and other first responders join credit unions through sponsor relationships. During account opening, spouses or partners are often added as joint owners for convenience. They help manage the household finances. They use the debit card. They log into online banking. They interact with the credit union regularly. Yet in many cases, they never actually become full member-owners of the cooperative. They are connected to the institution — but not fully part of it. And that creates a major strategic opportunity. Why Joint Owner Conversion Matters For sponsor-based credit unions, converting joint owners into full m...
Comments
Post a Comment
Please no profanity or political comments.