We’re all about you!04/24/2020 Banking
Southern Security’s Timely New Programming
Like most industries, credit unions are changing the way they do business in light of the coronavirus and its quick impact on health, our workforce and the world’s economy. Southern Security Federal Credit Union is stepping up its technology to better benefit its members with some new and updated programing.
Starting April 24, Southern Security members will be able to video bank with our employees. Members can click a button on our website and be connected to an employee to share their screen, send DocuSign documents and driver’s licenses, and ask questions 1:1 about their accounts. Much like video conferencing or telehealth services that most people are using during quarantine, video banking will allow members to reach the right person for their needs from the comfort of their homes or offices. This feature is initially offered through our website using the Chrome browser. However, we are developing a video banking element in the mobile app for ease of use in the next phase of the project.
Workplace Financial Education Courses
Even before the coronavirus pandemic, Southern Security was developing a more accessible series of financial education courses. Studies have shown that employees feel distracted at work thinking about their personal finances and would benefit from answers to financial questions from a professional. The need for online courses sped up dramatically with the changing workplace landscape and economic uncertainties during quarantine. In March, Southern Security launched online learning modules and classes for its member companies to share with their employees. Through interactive learning, members can watch videos on financial topics, such as budgeting and savings accounts, major transactions, like mortgages or auto loans, financial responsibility including credit score checks and insurance and long-term planning for retirement and investments. We’ve also included financial tools and calculators for members to put in their finances to determine emergency savings, saving for college and planning for retirement expenses, for example. Members can take a short quiz when they sign up for the financial education courses and a list of recommended topics and tools will be tailored for their specific needs. We are also offering virtual seminars for our member companies to share with their employees.
An ITM is an interactive teller machine allowing members to conduct 1:1 banking business through the ATMs at participating locations. Through the ITM, Southern Security members can make deposits and withdrawals, account transfers, balance inquiries, check cashing, loan payments and even order checks with our extended hours drive-thru banking hours of 8 a.m. – 6 p.m. This service keeps our simpler transactions at the ITM and the more consultative services in-person in the branch. We are looking to launch the ITMs June and August 2020 at participating locations.
Greenpath Financial Wellness
Through Greenpath Financial Wellness, Southern Security provides 1:1 financial counseling to all members with debt management and counseling, credit repair and building budgets. We are also offering coronavirus-focused assistance through Greenpath.
Southern Security is presenting to member companies on how to best handle finances during coronavirus and the economic uncertainty it has caused. We are presenting about how to budget during this crisis, breaking down the Cares Act and local funding programs and how to budget for future months to account for lower income.
“We are working one-on-one with all of our members during this time, helping them with questions they have or assistance they need, creating solutions that work best for them,” said Dawn Graeter, CEO of Southern Security Federal Credit Union.
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