Earlier this year, cooperative CUSO CU*Answers introduced the integration of the My Virtual StrongBox (MVSB) tool within the CUSO’s It’s Me 247 online banking system, allowing members to store their personal documents without having to leave online banking.
Most recently, CU*Answers announced it is providing – for free 10 MB of virtual storage space for every member of a credit union on the CU*BASE® processing system. As part of a three-way partnership between CU*Answers, eDOC Innovations, and Virtual StrongBox, the organizations have developed a strategy for the secure delivery of documents, such as e-receipts, loan forms, and membership forms directly from CU*BASE to the member’s virtual depository. The member will then be able to retrieve those documents via It’s Me 247 online banking in an SSO environment, and even be able to share them with authorized others.
CU*Answers has already signed agreements with twenty CU*BASE clients, and is receiving very positive response from credit unions who say member confidence and usage has quickly elevated. Members may also purchase additional virtual storage as desired for a minimal annual fee. As one CEO stated, the ability for members to inexpensively and securely move personal documents to a trusted environment, and then have immediate access to these documents is already making a difference for how these members view their total credit union relationship.
Scott Page, CU*Answers EVP said, “The benefits for credit unions to provide this free service to every member are very real. For the member, the value to securely store key documents which may otherwise be misplaced or lost is invaluable. For the credit union, this represents a differentiator for helping attract, serve and retain new members. We believe this is a real winner, and we are eager for every CU*BASE client to begin offering it to their members”.