Within the past few years, we’ve watched technology progress in ways we never dreamed possible. Now, many homes have more than one tablet, smartphone, and laptop which has allowed for interconnectivity like never before. It is an incredible privilege see how technology changes the way we operate on a daily basis, and those changes affect our personal lives, and even the way we do business.
While the digital world is moving at a quick pace, it is vital for different industries to keep up with the times–the financial world included. The member experience has changed so much that you can now go months without stepping foot into an actual financial institution and still complete all of your banking needs. With Opportunities Credit Union keeping these technological advancements in mind, we are able to provide our membership with what you have come to expect in our digital world: Convenience, speed, security, and a greater breadth of product offerings.
1. Financial Transparency
As the cost of living continues to rise, it is very important for each account holder to know what he or she is working with on a financial level. Thanks to technology, you have access to so much more than just your monthly statement. Online banking allows you to see the details of your transaction history, while also compiling information from accounts held at other financial institutions.
This is a major shift because it encourages total financial awareness and serves as a great way to keep your “financial pulse.” It allows for control and the ability to make better financial decisions because you can review your complete financial portfolio on one screen. Depending on where you stand financially, this picture might seem a little overwhelming at first. However, it is a major benefit in the long run and encourages fiscal responsibility and increased financial power.
2. Smartphone Deposits
With the emergence of mobile banking, many financial institutions, Opportunities included, now provide their own apps on Google Play and the Apple store. Our members are now able to review their financial information whenever they please, regardless of physical location or branch hours. While a smartphone may not be able to do the same as an ATM machine and withdraw cash, smartphones are now able to deposit cash with remote check capture. The process is both simple and convenient.
After you’ve received a check, place it underneath a light, position it well, and take a picture of the front and the back of the check through the app. Once you’ve finished taking pictures of the front and back of the check (along with your endorsed signature), you’ll be able to electronically deposit a check to your Opportunities bank account. This technology is convenient and useful for our members who may not have easy access to our branch locations.
The wonders of mobile deposit technology now allow members from across the state of Vermont to make transactions easily, regardless of their work schedule and location. There are plenty of cases where people receive checks and hold on to them until they have time to go to the bank and deposit them in person. By the time you have some margin in your schedule to go to the bank, you could have had your money deposited long ago. Depositing money into your account is now doable from any place where smartphones and strong Wi-Fi connections are.
3. Go Green with Paperless Transactions
When you open an account, opt for e-statements instead of paper statements. Not only will this digital option save trees, it will ensure for faster access to your statement and more secure delivery of your financial information. Best yet, you won’t have to hold onto and file pages upon pages of financial records because our online banking platform stores all of your past statements in one convenient place.
If you’d like to check how much money is currently in your account or how much money went out over the weekend, all you need to do is open up your laptop, visit our website, type in your username and password, and the information will be at your fingertips within seconds.
Not only does technology prove time and again to be an environmentally friendly choice, it makes the process of monitoring and accessing your funds simple and more intuitive.
4. Bill Pay
Years ago, people used to order checks, balance checkbooks, and send their checks in the mail with postage stamps. While some people prefer this method, most people now opt for the automatic bill pay option.
By providing a business with your card number, you can give them permission to bill you at certain times of the month for a range of billing cycles. This virtual way of paying bills is simple and involves minimal effort or memory. The convenience and simplicity are what most people love about this option.
Another automatic bill pay option involves logging on to the computer and placing a request through Opportunities to pay a specific bill at a certain time. As long as the money is in your account, you can use e-banking to order a check and have it sent wherever you need it to go. This is an easy route to take for paying bills and our online database keeps a record of the check for you to refer back to.
5. Increased Security
Online banking also allows you to create unique passwords and personal identification numbers (PINS) that can be updated at your convenience. Unlike a letter that comes in the mail, you are the only person who can open your accounts–so make sure you don’t share your passwords or PIN numbers with anyone.
Security is of paramount importance to consumers and to financial institutions at large. Our online banking systems are protected and encrypted to prevent piracy or stolen identities. We ensure that our software is updated and that all transactions are as secure as possible. You can rest assured that we take all possible measures to keep your information private and secure.
As new technology emerges the financial world will continue to develop and morph into an increasingly user-friendly experience. These advancements allow for your banking processes to run as smoothly and simply as possible. We look forward to bringing you the latest options and features over time.
Interested in an e-Checking account from Opportunities?