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Nationwide Utility Industry Credit Union Steps Up Its Virtual Business Model

Nationwide Utility Industry Credit Union Steps Up Its Virtual Business Model

Utilities Employees Credit Union will unveil new mobile and home banking platforms powered by Jwaala, later this year.

Wyomissing, PA (PRWEB) April 12, 2012

The credit union that serves 45,000 members and 600 companies in the nation’s utility and energy sector has announced it will offer mobile banking and expand its online services later this year. Utilities Employees Credit Union (UECU) recently signed a contract with the Jwaala software company to take its suite of convenient financial “E-services” to a new level.

“UECU has always been a ‘virtual credit union’ serving a widely-dispersed membership,” says Glen A. Yeager, UECU President and Chief Executive Officer. “The upgraded online and mobile banking platforms will further empower our members and simplify management of their finances.”

Providing high-quality, nationwide account access to its member customers has long been a priority for UECU. For more than 75 years, UECU has operated without a branch system, initially handling its long-distance transactions by mail and electronic fund networks until they added around-the-clock phone banking and then online banking, in 1994 and 2001. Its virtual business model allows UECU to provide financial benefits to companies and employees in the utility and energy industry wherever they expand or relocate throughout the nation.

UECU saw an opportunity to further enhance and personalize their members’ online banking experience while adding even greater customer security, by upgrading to a system offered by the Austin based company, Jwaala. The credit union will add mobile banking and combine the free online services it currently offers – including online banking, phone line banking, online bill pay, account E-Notifications, remote check deposit, account E-Statements, internal as well as external fund transfers, and online loan applications – into a new banking platform that can be personally tailored by each member.

“The enhanced system will be more intuitive to use and individuals will be able to customize their own dashboards,” says Yeager. “At log-in, they can immediately view the information deemed most important to managing their finances on a single screen.”

The UECU organization will roll out the new platform later this year and is now planning ahead to provide members with an easy transition and to educate them about new online features. UECU members will receive added personal finance tools to track transactions, establish budgets and goals, and securely store personal documents like their receipts. Users will now be able to categorize, search, sort, and graph their financial information and account transactions. UECU will also enhance online opportunities for families to manage their financial accounts together.

To learn more about Utilities Employees Credit Union, visit http://www.uecu.org.

About Utilities Employees Credit Union

Utilities Employees Credit Union is a nationwide, virtual credit union providing financial services to utility and energy workers and their families since 1934. Its membership includes the employees of 600 companies and members of Energy People Connect, an association for individuals currently employed or pursuing employment in the energy industry. In 2011, UECU received the distinction of joining the less than one percent of U.S. credit unions to receive an A+ “Excellent” Weiss Rating for financial soundness and one of the few financial institutions to reward its members with a year-end bonus dividend, which last year totaled $ 1.2 million.

About Jwaala

Jwaala is leading the way to a new era of online and mobile banking with a powerful, feature rich and highly extensible platform called Better Online Banking™. Going beyond balances, transaction lists and bolt-on feature sets, Better Online Banking™ delivers a functional and modern online experience consumers love.

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