Randolph-Brooks Federal Credit Union (RBFCU) has upgraded its legacy system with Andera's oFlows, a fully paperless platform for online account opening and lending.
RBFCU chief information officer Mary O’Rourke said that providing online services enables the credit union to attract members interested in RBFCU, and the online member operation is more profitable.
"Members who join online are 49 percent more profitable than those who enroll through traditional means. They maintain a higher loan-to-share ratio of 467 percent versus the 120 percent of traditional enrollees," O’Rourke added.
He futher stated that account holders who choose online banking also opt for eStatements, which save $2 per account every month for the union.
Andera CEO Charlie Kroll commented, "oFlows allows Randolph-Brooks Federal Credit Union to service their members wherever they happen to be and at any time of day or night."
Established in 1952 to serve personnel at Randolph Air Force Base, RBFCU has become a $5bn credit union, and it offers an array on banking services to its 400,000 members both online and offline, from more than 40 branch locations in Texas.
Andera offers a multichannel platform to over 550 bank and credit union customers.