Ready to clear the air on the 'pay-at-the-pump' hold?

[Update] Please see the updated posting: Are you ready to 'pump' for the weekend?

Finally we are getting to the end of this story, and yes, it has a happy ending for all. First of all, thank you for being comfortable posting your feelings and comments. We want to stay in touch with you and hope you will find this communication tool helpful and convenient.

Will there still be a hold? The credit union has adjusted the programming of these transactions so the 'hold' amount will not exceed the amount of the transaction at any given point in time. We believe this to be reasonable because once you have used the money, it should be set aside whether by hold or by actually processing the transaction.

Who is making money off this 'hold'? No money on 'hold' ever left the credit union. It was simply held against your account balance. The 'hold' never affected the amount of interest, or whether you could earn interest on your checking account.

How can I be sure to get this type of information on a timely basis? Please make sure that your contact information with the credit union is accurate and up-to-date. For instance, if you add or change your e-mail address ... let us know. Also, when you post to the blog, ensure that the e-mail address you provide is accurate. Some folks who posted on this topic over the past couple of days used erroneous addresses and that hampered our ability to correspond with them one-on-one.

What happens if I still think there are extra 'holds' on my account, or if I have been charged an NSF fee because of this?You will need to contact the credit union via secure e-mail through the website, secure on-line chat through iTeller (home banking), or via phone at 843-797-8300. Staff will clarify your account and refund any fees assessed because of the $75 pay-at-the-pump hold.

What are we doing now? One thing for sure is we are researching how we can display 'holds' through on-line banking for members to see at their convenience.

Thanks again for letting your voice be heard ... you can always talk back with Troy.

Has the 'pump thing' taken out all of your steam?

[UPDATE] Please see the updated posting: Ready to clear the air on the 'pay-at-the-pump' hold?

For many of you ... yes, it has.   This is an update on the information in the blog: "You're gonna hold 'what' because I pumped gas?"   The "pump thing" has caused you to question your confidence in the credit union, the reliability of staff, and the type of product you use. It has made you ask questions like, "Does anyone but me think this is crazy? Why am I only finding out about this now? What are you people doing about it? How can this happen given what is going on in the economy?

For over a week now, your credit union staff has been pumping steam. Management has been steaming about the fact that we were not properly notified of this change through our processing partners. Staff has been steaming its brain power to find a workable solution as well as figure out how in the world to communicate this issue in a clear and concise manner.

Finally after almost two weeks of venting to every top-ranking official we know, the steam has been let out of the pump. This morning management was informed that the mandatory change imposed by MasterCard was, in fact, erroneously misinterpreted by its processing partners. This has made us look bad in your eyes and we know it.

Some of you thought it was ridiculous that it took us 10 days to let you know. Well, management agrees. The complexity of the issue, the number of moving parts affecting what was happening, the research, and the number of people involved made it practically impossible to communicate with any clarity any sooner. But, what you should know is that the fine folks in the Electronic Services and Sales & Service departments never stopped working for you. It is because of their diligence and never-lose-steam attitude that the interpretation error was discovered and now can be resolved. There are several parts of the resolution:

1. Until the changes can be input by our processing partners, the credit union will manually release holds four times a day on the 'pay-at-the-pump' holds. This will mean that only a very, very few transactions could be affected.
2. Staff through the Contact Center via secure on-line chat, or via phone 843-797-8300 will refund fees assessed because of these holds. The Contact Center will also process refund requests made via secure email. For secure email, either log into iTeller and use the email feature, or from the home page at scfederal.org, click Contact Us (top right), then scroll down to the secure form and provide the information requested. The credit union did not implement this change, and will not stand to accept one bit of profit at its members' expense.
3. At some point in time in the very near future, the correct programming process will be implemented. For all intents and purposes, it will restore the effect these transactions have on your account as they did prior to June 16, 2009. In the meantime, the credit union will be following steps 1 and 2 as outlined above.

To those of you who have stuck by your credit union, thank you for your confidence and patience. We hope we have made you proud to know that your credit union never lost steam on this issue and its staff fought to resolve it for your benefit and convenience.

Until my regular weekly post... you can always talk back with Troy.

You're gonna hold 'what' because I pumped gas?

[UPDATE] Please see the updated posting: Has the 'pump thing' taken out all of your steam?

Previously MasterCard had a $1 hold authorization on credit transactions at the pump. As of June 16, 2009, this hold was increased to $75. The language from MasterCard indicates that it is a mandatory processing change. The affect to members is more hold regardless of amount pumped; thus, resulting in checking account debit transactions being returned/or paid and charged the NSF/Overdraft fee.

Immediate response to this has been, "You're gonna hold $75 against my account because I pumped gas? This is crazy. I don’t have that kinda money! Are all gas pumps doing this?” The answers are not easy. The 'pay-at-the-pump' hold occurs when you use your debit card. Unfortunately, not all gas stations are able to or have implemented this mandated change. To make matters worse, the credit union doesn’t know which pumps authorize with the $75 hold and which ones do not. Management is very unhappy about this change and realizes the impact this has on the member's finances. So, if you have found yourself in this predicament, just simply contact your credit union and explain your situation. Staff is prepared to help you manage through this change.

Since it is a mandated change by MasterCard, staff is working diligently with its processing partners to find a workable solution that is in the best interests of both the membership and the credit union. In the meantime, here are some helpful hints to avoid the hassle caused by the 'pay-at-the-pump' hold:

• Check your AVAILABLE BALANCE through on-line home banking, via mobile banking, Teller Talk, or at the ATM.
• Set up overdraft protection options (loan/savings).
• Use Platinum Visa for gas purchases. (Earn valuable CU Rewards with each purchase.)
• Pay for gas using cash.
• Select ‘debit’ and enter a PIN. (These transactions clear faster, but still have a hold. Unfortunately, they do not qualify for CU Rewards.)
• Go inside and pay in advance. (The hold is for the amount of the pre-sale.)

For some of you this is not enough. You want to know, "What else can be done? How can they get away with this?" As you know credit unions operate under a democratic process. It is one of the credit union differences. Part of the democratic process is the power of your voice when spoken to elected officials.

This is a special edition of talk back with Troy and let's simply call it ... be frank on Friday and speak out! 

Are you seeing 'red'?

Fast forward to 1st quarter 2010, you just received your monthly credit card statement and you see 'red.' Not the "I'm as mad as 'h-e-double toothpicks mad' red, but that important information on your statement is highlighted in 'red.'

This past May, the senate overwhelming passed a bill that will require credit card companies beginning in early 2010 to disclose important information in red such as:

• Payment due date,
• Months left if only minimum is paid, and
• Interest paid if only minimum is made. 

There are other aspects of the legislation that will provide some relief to consumers, which you may read using this link ... but ... in the meantime,

Do you think that this legislation was long overdue, or are you concerned that while the government is trying to protect everyone, it  is actually taking on too much ownership? Channel your thoughts and post a comment. It's Thursday and time to talk back with Troy.

A check register? Isn't that "so yesterday"?

Ring...ring...ring...hello. Thank you for calling the contact center. Your balance? I can help you with that. Who calls in for their balance? With Payment Manager internet banking, eStatements, and mobile banking you'd think the contact center would never receive such a call. But we do!

Back in the "old days"...before technology...most credit union members used a check register to track their balance. In fact, I can remember my mom taking me into a branch, helping me open my account, and painstakingly showing me how to track my balance with the check register.

Fast forward to 2009. Many members don't use a check register. Instead they go on-line, into a branch, or call the contact center. We're certainly always ready to help, but it makes you wonder: maybe the old check register still has a place in 2009? What do you think? Kevin the service -guy wants to know.

Do Unhealthy Food Ads Target Minorities?

I read an interesting article in Essence recently which stated studies show minorities, specifically African Americans are often targets for unhealthy food ads. Do I believe there is a ring of truth to this study…sure.

I can give you several examples but one I remember specifically growing up in the 80’s in NYC was it seemed like there was a Mickey D’s on every block! It was a special treat for my mom and I to stop by the golden arches after a long day of shopping on Fordham Rd, 3rd Ave or Simpson Street in the boogie down (The Bronx) and order a “number 2”…back then a “number 2” was 2 cheese burgers, fries and a drink for about $3!

However, as I stated it was a treat…I was blessed to have a mom who would make sure that 5-6 nights out of the week my sister and I had a home cooked meal. Moms and dads I believe this is where parenting plays a vital role; being a model for my girls by showing and teaching them how to eat healthy and make smart food choices is imperative even at their young ages of 1 and 3. Your thoughts?

What's a dormant fee?

When a member's account has no activity, or goes dormant, for six months, South Carolina Federal Credit Union starts charging a dormant fee to the inactive account. The reason for this fee is that South Carolina Federal always incurs costs to maintain accounts, for things like reporting and posting dividends (when applicable), etc.

The simplest way to avoid a dormancy fee is to do at least something with your account every six months. This could be monetary action, such as making a deposit or withdrawal by using a debit card or writing a check, or transferring funds into or out of the account, for example. Any dollar amount counts. (Note that the posting of dividends to your account does not qualify as activity.) Non-monetary actions might include an address change or just a simple notification that you are aware your account is inactive and you wish to reactivate it.

But who wants to keep track of how long it’s been since your account was active? In an effort to make life simplified, South Carolina Federal sends Dormancy Notices, which state the estimated dormant date, 10 days before you incur a fee. This should allow a member sufficient time to reactivate his/her account before the fee hits. 

Will 10 days' notice help you avoid going dormant?  Is it too much to suggest - with my friendliest smile, of course - that you use your credit union account on a regular basis, thereby eliminating the possibility of inactivity altogether?  ;) 

Least favorite Chore?

Life/Life Balance

“Where’s daddy mommy?” my 3-year old asked me when she realized daddy didn’t go outside with us to play. My response, “he is in the kitchen cooking sweetie.”

Not until about 3 years ago did I truly understand how rewarding but oh so challenging parenting can be. Your relationship with your spouse or significant other must be strong enough to handle the challenges of parenting (applause to all the single moms and dads out there!) to achieve a balance within the household.

Yes, hubby and I have a system…if I am cooking dinner he is with the girls and if he is cooking dinner then they are all mine. Usually he opts for the latter (LOL). Anyway, it works and is a part of our routine…so MEN it is 2009… get in the kitchen and cook dinner for your family and/or that special person!

Financially Fit or Having a Financial Fit?

Not stressing over the economy’s effect on your financial situation? You can skip reading this blog, because you are Finically Fit! Having a Financial Fit and don’t know what to do? Read on…

Are you typing a letter or creating a report at work only to find your mind wandering in a different direction? Many people today are feeling distracted at work and find their thoughts to be consumed with their personal finances. You search for solutions on the internet and you may even talk to a confided co-worker, but many people say they are embarrassed to call their bank or credit union and tell them about their financial problems.

The same way it’s embarrassing to sometimes tell your doctor certain symptoms you are experiencing, it may sometimes be difficult to tell your financial institution about your financial symptoms. Some people let loan payments run late or let their accounts stay in an overdrawn status because they are afraid to call their FI and talk things out.

Why are people afraid to talk to their FI? Is it because you think we won’t help or make payment arrangements? Is it self-pride? Do you think we will scold you?  I am curious to know because having open lines of communication with your financial institution can avoid unnecessary stress and not to mention, unnecessary dings on your credit report.

Chao for now, Leslita

Could you use an $8,000 incentive?

Okay, who could say 'no' to such an offer? Not much these days is free, but it is hard to ignore the $8,000 incentive being offered by the government to new homeowners during 2009. The 2009 American Recovery and Reinvestment Act has a terrific incentive for first time home buyers (anyone that hasn't owned a home in the last 3 years). Buyers may be eligible for up to an $8,000 tax credit. These provisions are effective for purchases on or after January 1, 2009 and before December 31, 2009.

Read below and if you have a general question, then you can talk back with Troy by posting a comment. Please remember ... do not include sensitive, member data in any blog post as these comments are made available to the public.

• AMOUNT OF INCENTIVE? $8,000 maximum amount.
• ELIGIBLE PROPERTY? Any single family residence (including condos, co-ops and townhouses) that will be used as the principal residence.
• REFUNDABLE?Yes. Reduces (or, can eliminate) income tax liability for the year of the purchase. Any unused amount of tax credit will be refunded to the home buyer.
• INCOME LIMIT? Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 for a joint return).
• FIRST TIME HOME BUYER ONLY? Yes. Purchaser (and purchaser's spouse) may not have owned a principal residence in 3 years prior to purchase.
• REVENUE BOND FINANCING? Purchasers who utilize revenue bond financing can use credit.
• REPAYMENT? None, for purchases on after January 1, 2009 and before December 1, 2009.
• RECAPTURE? None, unless the home is sold within three years of the purchase. If the home is sold within three years original purchase, the entire amount of credit is recaptured upon sale.  
• LOAN LIMITS applies to Berkeley, Charleston, Dorchester Counties. FHA loan limit: $335,000 Fannie Mae/Freddie Mac loan limit: $417,000.  

Are you a reader or a "commenter"?

 I listen to a lot of talk radio.  It's interesting when you hear some people calling a talk radio show announce themselves as a "first time callers" and then proceed to share their point.  In many cases they say, "I was a listener for 10 years and finally was compelled to call."

It's similar with a blog.  Many bloggers identify themselveses as readers, not "commenter's."  After my last blog post about dining out I can't tell you how many people approached me and wanted to share their own experiences.  Curious, I asked, "why not respond by commenting on the blog post?"   Surprisingly, a number of folks said they didn't know how to comment.  That's fair.   Not everyone is an experienced blogger who knows how to maneuver through and dialog within a blog post. 

For those who are new to commenting, it's as simple as 1, 2, 3: 

1. Move your cursor to the bottom of this posting where the sentence begins with "Posted by Kevin Kosco."  At the end of that sentence is a word:  "Comments". 
   To share your comment, just click on that word. 
2. Type in your name and email address.  For now, you can ignore the request for URL...and you don't have to check the "Remember personal information" box.  You are now ready to comment
3. Write your comment!!!  When you are finished, click "Post Comment" and you successfully will have posted your first blog comment.

Got 60 seconds?  Why not try it out right now?  I'm looking forward to seeing notes from both first time commenter's and experienced bloggers.   It's easy, right?  Kevin the Service Guy is looking forward to hearing from you! 

Why is the Bloodmobile in our parking lot?

This Wednesday, June 17, a Bloodmobile will be in our parking lot off Rivers Avenue from 9 a.m. – 2 p.m., as South Carolina Federal Credit Union hosts a blood drive for the American Red Cross. Employees have signed up to donate and members are welcome, too. So, absentmindedly the other day, I found myself glancing at a pamphlet, “Top 10 reasons people don’t give blood.”

Being that I work in a marketing department, I was impressed by this crafty tactic: those 10 excuses were pretty lame. Seeing them in black and white – and thinking of the number of times I’d hardly justified my failure to donate using those same laughable “reasons” – made me acknowledge the possibility that no good excuse exists.

Softening a little, I did some research to find out just how my hypothetical donation might be used. One source said that “donated blood benefits victims of accidents or burns, surgery patients and people undergoing treatment for cancer, sickle cell disease or hemophilia. Yet, since someone needs blood every three seconds, shortages often occur.” Huh. I immediately pictured sick children. So this is what it feels like to face facts.

Therefore, being no great fan of needles, I hereby resolve to get over myself for a few minutes this week and donate blood. My plan: to talk about something else, look the other way, and think of a child somewhere whose need far outweighs any excuse I can drum up not to give. Oh come on, join me.

My financial situation is overwhelming. Can the credit union help?

It's important to us that our members are on solid ground financially. If you foresee financial problems ahead, please inform us as soon as possible.  People at your credit union can help you consider your options and find solutions that are convenient for you.

Our branch staff and Contact Center Representatives are available to listen Mon. – Fri., 8:30 a.m. - 5:30 p.m. (EST). For the Contact Center, dial 843.797.8300 (Charleston) or 800.845.0432 (Nationwide). After your first conversation, our staff may refer you to our Loss Prevention team, whose special focus is helping members in difficult circumstances. Loss Prevention has the expertise to bring loans current and help you resolve delinquency by developing a repayment plan, loan modification, forbearance agreement, special forbearance, refinance, second mortgage [equity loan], and more.

Some members have received free, confidential, one-on-one advice about regaining financial well-being from our partners at BALANCE^SM Financial Fitness.  Actually, BALANCE’s professional services can address questions on topics as wide-ranging as housing, planning for the future, senior issues, taxes and more. Whether you need guidance to help manage your financial commitments or simply want to learn more about financial matters, visit BALANCE's website and consider contacting BALANCE counselors at 888.456.2227.  If you've checked out BALANCE before, has it been helpful to you? 

Dream Vacation?

Buy-ability vs Affordability

A beverage brand recently began airing commercials using the brand tagline: The difference is drinkability.” In one ad, they use two snow skiing examples – one guy has a smooth slope, the other hits a major tree obstacle and ends up with a body full of bandages. Ouch!

Are your spending habits like skier #1 or #2? If you’re not careful you could end up like skier #2 – with a lot of financial bumps and bruises.

So here’s the thing: Affordability means that you either saved in advance for your purchase, or you’ve done the math and are confident you can pay the credit card bill in a very short amount of time. Affordability means you’re growing wiser and putting away the childish attitude of “I want it now!”

Buy-ability means you have a piece of plastic and a credit line in your name. So technically, you CAN buy the item. But you haven’t done your homework about HOW to actually pay for the purchase without dragging out the payments and paying interest. Buy-ability usually happens when you make an impulse buy for something you don’t really need.

So the next time you get ready to shop, think about it: Are you opting for affordability? Or giving in to buy-ability?

Chao for now, Leslita

Is that PIN or PEN?

It is very confusing when you make a purchase and want to sign with a PEN instead of entering your PIN (Personal Identification Number). Today, almost every retailer makes ‘debit’ the automatic default when the debit or credit card is swiped through the machine.  Unlike 'debit' purchases that require a PIN to be entered into the keypad, a selection of 'credit' means the purchase will require a signature by way of PEN. Consumers always have the right to choose 'credit' with any purchase. Simply hit the 'cancel' key on the terminal, or ask the clerk for assistance.

"Why do I care whether it's PIN or PEN?" You may ask. There are some really good reasons to choose 'credit' instead of 'debit'. When you sign with a PEN for your purchase, you will:

1. Earn more CUReward points faster and be able to buy really cool stuff faster.
2. Be protected through a special warranty plan offered through MasterCard. This is especially important for high-value items.
3. Help your credit union earn 'interchange' income, which means more convenient products and services for all members.

Now that you know the difference ... which will you choose ... PIN or PEN? Talk back to Troy and let me know.

How to Land a Great Job, Part 2: Are you Connected?

One of my recruiters recently reviewed an article that really surprised me, 80% of people get their jobs by knowing someone. Eighty percent! Now don’t get me wrong, having a great resume is usually pretty crucial to earning an interview. The question is how do you get your resume noticed? If you reviewed my recent posting, How to Land a Great Job, Part 1: You Have 15 Seconds to Make a First Impression, you received some tips from an employer's perspective on how to make your resume stand out amongst the thousands, however, we cannot ignore that this is the era of social connectivity.

Traditional methods would steer you towards looking for job ads and faxing or e-mailing a resume to a company, completing an on-line application, or even posting a resume on-line…then cross your fingers and hope that you will get a call back.

You can be more involved in landing that great job by exploring the networking tools available right at your finger tips! There is a great little on-line tool called LinkedIn, which works similarly to Facebook, but is designed for professionals. You make a profile, which is really a virtual resume of sorts, and invite current and past colleagues and classmates to be a connection.

Also, don’t underestimate Facebook and MySpace. You might think of these websites as purely social-casual forums, but think of all of those people who may work for companies or even know people in your industry that may have some jobs coming available soon.

A final thought. Many companies are beginning to see the usefulness of these social-networking sites, and there is a huge trend in which recruiters are finding candidates for jobs through LinkedIn, Facebook, and MySpace. My tip? Keep it clean...make sure you are proud of the on-line face you present. So, tell me are you connected?

Dining out

Last weekend my wife and I celebrated my birthday by dining at one of the great restaurants here in Charleston.  It sure was a treat!  We have a somewhat irregular way of ordering food, however.  We pretty much order together, splitting most, if not all the servings. For example, last Saturday we ordered and shared a Caesar salad, a steak, a couple sides, then dessert.  With portion sizes the way they are, we left full and happy. 

Here's something else we've discovered: most restaurants are more than happy to split the servings before they arrive at the table.  In fact, the restaurant this past weekend organized both plates so they looked fantastic.  My wife was delighted.

So what's our reasoning?  Are we cheapskates?  Not really.  As noted above, portion sizes are big so we are managing;how much we eat.  Dining costs have gone up and we figure we can both eat comfortably for a reasonable price by sharing dishes; The restaurants we visit also don't appear to mind.  Seems like a win-win to us. 

Some folks agree with us; others think it's kind of strange.  What do you think?  Kevin the servings guy --ah, er, service guy -- wants to know!

What should I do if I'm traveling outside the U.S.?

Ah, vacation...  My husband and I just got back from a trip to Italy for our second "annual honeymoon."  Exciting as it was to plan that trip, we certainly had lots to consider when packing to leave the country. At the top of our list, along with camera batteries and comfy shoes, was debit and credit cards that would work overseas.

If you plan to travel abroad, be sure to notify the credit union before you leave. This is a simple step you can take to ensure that you have uninterrupted access to your money when you're outside the U.S.  For security purposes, your cards are usually blocked from use in foreign countries. 

All you need to do is notify our Contact Center by phone, secure chat or email and we'll ensure that your debit and credit cards are cleared for transactions abroad. A week in advance ought to do it.  We simply need to know the country or countries where you’re headed and the dates you will travel.

Another helpful travel tip, whether you're traveling internationally or simply out of state: make copies of the front and back of any cards you plan to take with you and store them in a secure place in your carry-on bags. In the event that your cards are lost or stolen, this will make it easier to contact us with the pertinent information that will help us freeze your accounts against the threat of fraud. If you have questions or concerns before you take flight or set sail, we're here to help.  Leave a comment/question for me if it might help you -- and bon voyage!

Two Peas in a Pod

Some people think co-signing on a credit card or loan is helping someone out, but they forget to realize that it’s also making them co-liable. Many times the co-signer is not the direct recipient of the credit card, loan funds, or even the person who will be making the monthly payments, but the debt still shows up on the co-signer's credit report and impacts his/her score.

Co-signing also stretches your debt-to-income ratio which is a factor lenders look at when considering you for a loan. For example, you may be a co-signer on two cars that family or friends drive, but when you apply for a new car for yourself, you are denied. What? Why? Because that would be your third car! You may not be driving the other two cars or making the payments, but legally, you are liable for those two car payments if the primary drivers do not make their payments-not half liable, totally liable!

If a friend or family member where to ask you to be a co-signer on a loan or credit card, would you co-sign?

Chao for now, Leslita

Can you dig your way to China?

As a little boy playing in the yard I can distinctly remember my grandfather telling me to stop digging that hole or I'll end up in China. Now, to a child that seems mystical, magical, and just a little bit like a challenge. Of course, I wouldn't know anything about a challenge ... or that really big hole in the backyard.

What strikes me when recalling that memory is my childlike perception that the world seemed like such a big place back then. Today, I see the world a little smaller and a lot more connected.

After a work colleague's recent trip to China, he shared with me the value of using his mobile phone to stay in touch with family and friends here in Charleston. He even joked about using his phone to transfer money via his home banking account because that priceless souvenir had almost caused him to overdraw his checking account.

Amazing that in one lifetime trading a shovel for a smart phone makes it possible to connect two opposite sides of the world. So, how do you like to connect with others ... e-mail, Facebook, twittering, blogging, face-to-face, mobile, Internet? Come on and give me a 'holler' ... it's time to talk back with Troy. 

How To Land a Great Job: Part 1- You Have 15 Seconds to Make a First Impression

Recruiters scan hundreds of resumes daily and in usually about 15 seconds or less, a highly skilled recruiter can easily determine if a job-seeker meets the qualifications of a position. This is an employer’s market (greater amount of applicants then jobs), so keep in mind organizations are literally being flooded with resumes from under-qualified and overly-qualified applicants, which makes the process of finding “true talent” even harder. Here are some top key points you should keep in mind if you are actively searching for employment:

• If you have experience that relates to the position of interest, make sure this is clearly highlighted in your resume
• Be honest, do not embellish the facts
• Use a consistent font and lay-out
• Proofread!
• Most organizations have applicant tracking systems but if you are sending a resume through snail mail fancy paper or graphics are unnecessary and can be distracting
• Keep it professional, not personal
• Use action words that describe past job duties such as “implemented”, “achieved”, “managed”, and “coordinated”

What questions do you have? Subscribe to my blog so you don’t miss future Job Hunt blogs which will include, The Job Search, What Not to Wear, The Interview, Got the Job Now What? PS. South Carolina Federal holds “How to Land a Great Job” seminars within the Tri-county and Midlands areas…check out, our seminars periodically, if you are interested in learning more or attending. Thanks for viewing!

Your Voice Matters

There was an interesting article in the paper recently which highlighted South Carolina Electric & Gas' program to solicit customers' energy-saving ideas.  Customers are asked to respond with ideas...which SCE&G will evaluate and report to the Public Service Commission.   I'm willing to bet their 650K customers will give them some "feedback."

With transparency being the buzzword of the year, it has become apparent saavy companies are actively soliciting feedback from customers.  Insurance company USAA, Southwest Airlines, and Dell Computer are examples of companies known for soliciting customer feedback and incorporating into their operation.

South Carolina Federal is no exception to this trend.  The credit union surveys members each month asking for input in an effort to improve member operations.  But you don't have to wait until you are asked.  Have feedback?  An idea for an improvement?  Perhaps you just want to say what's on your mind.  You can always send your information to ContactCenter@scfederal.org.  Kevin the service-guy is waiting to hear from you!

Where's the monthly newsletter?

Downturn, depression, recession: whatever you call the economic slump, negative connotations usually come to mind. I see a silver lining, however, because challenging times have compelled us to consider nearly every expense, to realize what we can do without and to make some truly positive changes in the interest of thrift as a result.

At South Carolina Federal Credit Union, one money-saving tactic we’ve employed is to make our monthly member newsletter, InBalance, available electronically only, beginning May 2009. We save printing costs yet we’re still able to deliver timely news and information in an electronic format on our website and with eStatements. While we will continue for the time being to print and mail newsletters along with quarterly statements in January, April, July and October, we think eliminating printed monthly newsletters is a small change worth making. The silver lining is that the change reduces what it costs to operate the credit union.  Members benefit in the end because a credit union with greater resources at its disposal can offer better rates and lower fees.  Everybody wins!

Like spare coins in a jar, a little change can really add up.  Is there anything else we could change about the way we communicate to ensure you "hear" the news you need most from the credit union?  What communications methods work best for you (web, email, etc.)?