Credit unions are under increasing pressure to enhance digital services while maintaining strong member relationships. Greater Nevada Credit Union (GNCU) took a proactive approach to modernizing its loan payment system, addressing both member needs and operational inefficiencies. By partnering with Alacriti, GNCU achieved remarkable results, including an 85% reduction in call center volume and a substantial boost in member satisfaction.
Recognizing the Need for Change
GNCU’s decision to modernize its loan payment process stemmed from direct member feedback. Annual surveys consistently revealed that members wanted a simple, user-friendly way to make loan payments from external accounts. “A common theme was we were missing a portal where they could make a quick loan payment when they wanted to fund it from an account other than Greater Nevada,” said Veronica Gomez, VP of Digital Member Experience at GNCU.
At the same time, GNCU’s call center struggled with high call volumes due to complex payment processing. These operational inefficiencies added unnecessary costs. To resolve these issues, GNCU sought a solution that prioritized innovation, seamless user experience, and integration with existing technology. “We were really looking for three key things. We were looking for a partner that was going to continually innovate, we wanted to have a frictionless experience, and we also wanted them to integrate with our current technology,” Gomez explained.
The Challenges of Legacy Payment Systems
Many credit unions hesitate to upgrade payment systems due to perceived complexity, limited resources, or the assumption that their current solution is “good enough.” Stuart Bain, SVP of Product Management at Alacriti, pointed out that these assumptions often prevent progress. “The first one being, changing my solution is too much like hard work. I don’t have the resources or the budget to make that change.” However, outdated systems can lead to hidden costs, such as excessive staff time managing manual processes or handling customer service calls. “That mindset then ignores the intangible costs,” Bain added.
Steps to a Successful Implementation
Before implementing a new payment system, credit unions must map out current challenges and include key stakeholders in planning. “It’s important to understand and map out what the current experience is like, not only for members but also for the internal teams that support payments,” advised Gomez. This collaborative approach ensures that operational pain points—whether in call centers, fraud prevention, or reconciliation—are fully addressed.
Additionally, understanding the core goal of modernization is essential. “Understanding what you’re solving for” is critical, according to Boden Dullanty, Digital Solutions Analyst at GNCU. Identifying inefficiencies and defining success metrics can help credit unions build solutions that benefit both members and staff.
Operational Changes
The results of GNCU’s modernization efforts were immediate and significant. “They averaged, depending on the month, anywhere from 600 to 900 calls, and they weren’t always able to take all of those calls,” Gomez shared. The overflow to third-party call centers added considerable costs. With the new loan payment system, call center inquiries dropped to approximately 100 calls per month, allowing staff to focus on high-priority concerns like fraud prevention.
Additionally, enhanced reporting capabilities provided deeper insights into member engagement. “It has really helped with knowing how engaged our members are with using the tools. It’s really worth the investment that we’ve made,” Gomez noted. The integration between Q2’s digital banking platform and Alacriti’s Orbipay solution also streamlined real-time payments. “Having direct core connection between Orbipay and Q2 improves the member experience with that instant payment,” Dullanty explained.
The Impact of Integration
One of the most significant improvements was eliminating the need for members to navigate a separate portal for loan payments. “They don’t have to worry about more usernames or logins or accessing more solutions. It’s all in one place,” said Dullanty. This convenience resulted in increased payment capture rates and fewer late fees. Usage of the system also saw impressive growth. “When we first went live, we only had utilization of our SSO [single sign-on] at 16%. As of this month, 30% of Orbipay users use the SSO to make those payments.”
The smooth implementation process was another win. “It was definitely one of the easier projects, that’s for sure,” Dullanty shared, crediting the seamless collaboration between Alacriti, Q2, and GNCU.
Lessons Learned
GNCU learned several key lessons during the implementation process. One was the importance of structuring service fees strategically to encourage self-service. “When we were reassessing the fee that we wanted to charge, I wish I would’ve pushed a little bit more for that fee to be higher because I think that would’ve pushed our members to become more digitally engaged,” Gomez reflected.
Early involvement of all departments was also crucial. Including accounting and other teams from the start ensured a smoother transition. The credit union also leveraged a phased rollout to minimize disruptions. QR codes and marketing initiatives targeted indirect members, such as those obtaining auto loans at dealerships, ensuring they were aware of the digital payment platform from the start. “It gives them a blurb of who Greater Nevada is and how to contact us,” Dullanty noted.
Bain highlighted an operational shift that comes with real-time payments: “One of the key learnings is that when you move to real time, the payment data becomes separated from the payment dollars.” While payments post instantly, funds may take additional time to clear, requiring adjustments in internal processes.
The Benefits of Modernized Loan Payments
With a modernized loan payment system, GNCU has achieved significant improvements in efficiency and member experience. Dullanty emphasized the value of real-time payments: “It’s that instant payment to the core that’s such a big benefit.” Offering multiple channels—including digital banking, guest web access, and SMS—ensures flexibility for members, reducing friction in the payment process.
Bain further emphasized the operational advantages: “You know exactly everything’s going to happen when it’s supposed to happen because it’s all happening in real time.” This level of automation frees staff from time-consuming manual processes, allowing them to focus on higher-value tasks.
Additionally, modernized systems enhance member loyalty. Members today expect seamless, real-time financial transactions, similar to other digital experiences like online shopping. By meeting these expectations, credit unions strengthen retention. Gomez summarized this impact: “If they’re seeing you continually innovate and take the feedback that they’re providing, they’re going to want to stay with you because they are being heard.”
GNCU Today
GNCU has made remarkable progress in loan payment modernization, with impressive adoption rates and operational efficiencies. “Our biggest channel is enrolled web, with utilization at 63%,” Dullanty shared. Call center volume, which previously handled 900 payments a month, has now dropped to just 140, despite an increase in overall loan payments.
By embracing digital transformation, GNCU has not only enhanced efficiency but also improved member satisfaction. As Dullanty put it, “It’s such a huge win to keep that increase going while reducing the employee labor on taking those payments.”
Want to learn more about how GNCU successfully modernized its loan payment process? Watch the webinar playback.
