Credit unions send out a massive number of monthly communications to their members. Designing, printing, and sending those communications out can take considerable time and resources. But is all that necessary?

An increasing number of credit unions are turning to vendors for their member communications. Should your credit union do the same?

Let’s look at the pros and cons.

Why Your Credit Union Should Outsource Printing

There are several reasons why credit unions would want to outsource their printing. In this section, we’ll cover a few of the more common reasons why credit unions hand member communications over to vendors.

1. Reliability

   One of the main reasons credit unions outsource member communications is the predictability vendors give. Vendors put all their energy toward one task, and they do it well, on time, and reliably, day in and day out.

   The experience that vendors have with each member communication medium is extensive. This ensures that vendors are fast, effective, and punctual.

2. Consistency

   A surprising number of people still haven’t signed up for electronic communications. Nevertheless, those who prefer or still use printed communications should get the same experience as everyone else.

   Every change or edit to a statement or notice must be done both digitally and in print. Vendors are able to quickly and effectively ensure that all member communications—whether electronic or in print—meet the same exacting standards.

3. Convenience

Managing design, edits, changes, and shipping in-house is a big task. Even by outsourcing portions of it, your staff is on the hook for a lot of effort, much of it rather tedious.

Outsourcing your credit union’s print needs frees up quite a bit of time and energy that you could be using for more strategic purposes. And, considering that using vendors is often more cost-effective, it’s an obvious choice.

Why Your Credit Union Shouldn’t Outsource Printing

There’s no such thing as a perfect solution. While print outsourcing solves a lot of problems, it doesn’t solve them all. In fact, it creates one notable problem of its own.

1. Control

The truth is that outsourcing anything cedes some level of control. When working with third parties, you have to trust that they’ll faithfully deliver the goods or services that you ask for. And, although vendors tend to be very responsive and capable, you don’t get the same kind of close monitoring or constant contact that you get from in-house solutions.

Giving up control is difficult for many businesses. However, because credit unions operate in such tight margins, there’s a limit to how many expert staff you can bring in to accomplish everything. Are member communications something that you feel comfortable about handing over the reins?

Final Thoughts About Print Outsourcing

At the end of the day, you have to make the decision that’s best for your credit union. Your primary goal is to keep your members informed about their money. Your secondary goals are to meet compliance, provide effective and attractive communications, and to showcase new opportunities.

If you feel that you can accomplish all of the above without breaking a (figurative) sweat in-house, then you may not benefit from print outsourcing. Or, if you don’t like the idea of letting anyone—even trusted experts—to handle certain niche services, then you might want to wait before bringing in a vendor.

However, if you don’t mind giving up a modicum of control to guarantee reliability, consistency, and convenience, then outsourcing member communications might be your best option.

Of course, your best bet is to actually speak with a vendor. They should be able to tell you what you can expect and what it will cost. There’s a good chance that print outsourcing will save your credit union money as well as time.

If you’d like to read more about credit union print outsourcing, follow the links below!

Why Credit Unions Should Consider Statement Printing Outsourcing

XpressStatement™