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Customer Success Story
Technology Credit Union Profile
Technology Credit Union is among the top 1% of the nation's largest credit unions with eight full service branches in the Silicon Valley.
Business Challenge
The company needed to upgrade its recording solution and have better access to recorded interactions.
Solution Overview
Technology Credit Union chose VPI's state of the art digital solution for its superior technology, reputation and lower long term cost of ownership.
Significant Benefits
Improved customer service and loyalty; Valueable marketing intelligence; Enhanced training and quality control; Increased agent productivity
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VPI's Innovative Call Recording Technology Simplifies Compliance and Improves Customer Service at Tech CU

At Tech CU, every member interaction with a Credit Union employee is considered important - so important that Tech CU makes sure 100% of those calls are recorded and retained for at least seven years.


"With the VPI system, we will actually sit down with the employee, pull some sample calls and evaluate them together. Then it's never just our subjective perception - we can both hear the call at the same time."

- Technology Credit Union
Technology Credit Union

Business Profile

Technology Credit Union is among the top 1% of the nation’s largest credit unions with eight full service branches in the Silicon Valley. With more than $1 billion in assets and still growing, Tech CU is a financial leader in the Silicon Valley.

Challenge

Formed in 1960 by a group of employees of Fairchild Camera in Mountain View, California, the Technology Credit Union has grown steadily over the years, expanding to include technology professionals form a wide range of high tech companies in Silicon Valley. Today, "Tech CU" is among the top 1% of the nation's largest credit unions, with more than $1 billion in assets and six full- service branches. They needed to upgrade their call recording technology, so Tech CU evaluated a number of the leading vendors. Ultimately, they chose VPI's state-of-the-art digital recording solution for its superior technology, excellent reputation and lower long term cost of ownership.

Solution

The VPI solution gives Tech CU the ability to save every one of those thousands of member interactions indefinitely, and at the same time makes each one instantly accessible for retrieval and playback. This is critically important when you're dealing with people's finances.

"We deal with every kind of financial transaction - CDs and IRAs, investments, mortgage loans, car loans, collections accounts, wiring money... We're touching people's money, and we have to be sure we are doing everything that we are supposed to do from a regulatory perspective," explains Smith. "From a security and procedural perspective, as well, we want a record of every single phone interaction."

When a misunderstanding arises with a member's transaction, the ability to retrieve those recorded calls is a life saver.

"We had a member who insisted that we had placed a stop payment on the wrong check, and her rent check had bounced," Smith recalls. "She was very upset. But because we were able to easily find and retrieve her original phone conversation, we could invite her to the branch office, sit down with her and let her listen to what she had actually said. By the end of the conversation, she was very apologetic." Thanks to VPI's full time recording capabilities, that call was available, and a situation that might have become much more contentious and damaging, was defused instead.

The value of the VPI system does not end with transaction verification and dispute resolution. At Tech CU, training, quality assurance and customer relationships are equally important - after all, the customers are also members and owners of the company. Each contact area's supervisor uses VPI recordings to help agents improve their skills.

"We will actually sit down with the employee, pull some sample calls and evaluate them together. Then it's never just our subjective perception - we can both hear the call at the same time."

Even the senior management team at Tech CU is excited about what the VPI solution makes possible. When a new marketing campaign is in full swing, top executives have discovered the value of pulling up calls to listen to members' reactions in their own words. It has a much greater impact and leads to quicker and more effective executive action.

Significant Benefits

With VPI, Technology Credit Union was able to improve customer service and loyalty and gain valuable marketing intelligence from its recorded interactions. In addition, they enhanced their agent training and their quality control, as well as made their agents more productive.



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