Dear Members:
We’re gearing up to distribute our ninth Annual Membership Survey next month, and I’d like to emphasize how vital member feedback is to Corporate One. You can see it in our results, which improve year over year. In fact, our commitment to member satisfaction produced the highest annual membership survey results to date last year at 82.4. In addition, the exceptional service our Member Experience team provided was reflected in the post-call survey ratings—averaging 4.79 out of 5 stars.
Because Corporate One wants to help you succeed in all you do for your members, we rely on your feedback to learn how to increase the value we provide. From making it easier for you to do business with us to providing robust and competitive product offerings that help your credit union grow, improve efficiency, and mitigate risk and fraud, here are just a few examples of how we continue to increase the value we provide and meet our members’ needs.
Accessing short- and/or long-term liquidity
Foundational to our mission, we continue to help credit unions get liquidity when needed. Last year, we assisted credit unions in a rapidly rising interest rate environment with accessing more than $4 billion in funding, including helping them access liquidity through the Bank Term Funding Program. In 2023, we also helped our members raise $339.3 million in non-member deposits, both in the custodial and DTC markets, through SimpliCD. Whether you have short-term borrowing needs to cover settlement, long-term funding goals related to asset/liability management strategies, or find you need to access emergency liquidity, we are here to help.
Providing solutions and preparing operations for immediate payments
Many credit unions worry about the effort needed to get connected to the immediate payment rails; however, Corporate One has streamlined the process with most core processors, especially for receiving payments, and we are working on a similar process for sending payments. With Corporate One, credit unions can go quickly and painlessly from signing the contract to full implementation in about 45 days. Corporate One connects 22% of all credit unions in our industry to the RTP® network, and we continue to onboard more and more credit unions daily.
We also continue to make improvements and offer innovative solutions to existing hurdles. For example, regarding the FedNow® Service, some credit unions might think they can’t adopt instant payments because connecting to this new payment rail requires using one of the FedLine® Solutions accounts. To help solve that, we released Corporate One’s FedNow Profile Management Service this past June. For credit unions that choose to send or receive FedNow payments through Corporate One (i.e., use Corporate One as their service provider), Corporate One manages your credit union's FedNow Service Participant Profile for you so you can access this payment rail even in the absence of a FedLine Solutions account.
Evolving traditional services to include digital experiences
Our CUSOs continue to innovate new ways for your credit union to grow. In January, Lucro Commercial Solutions launched Loan Split, its new commercial lending participation platform marketplace for buying and selling commercial loans. User feedback is already being incorporated to improve the overall experience.
Your insights further fuel our efforts to be your best corporate partner. We value your input on how to strengthen our organization in meaningful ways and are dedicated to providing the best possible experiences with our solutions, services, and staff.