Visions Federal Credit Union: Becoming financial advocates

EMPTY

|Dec 13|magazine5 min read

(Norwich, UK, 12/13/2019)

Thomas P. Novak has been in the banking industry for close to 14 years. Today, he is Assistant Vice President (AVP) of Digital Banking at Visions Federal Credit Union, a member-owned credit union dedicated to community advocacy. 

“Our digital strategy is focused around a term we use; advocacy banking. Like a healthcare advocate for physical well-being, we want to support, guide and advise our members at every step of their journey regarding their financial well-being,” says Novak. “We want to help our members across every aspect of their financial lives to become financially independent.”

Over the last seven years – following the appointment of Ty Muse as President/CEO – a fresh perspective has spread throughout the business, driven by several cultural changes. “Our CEO and executive leadership team travel to our three operating states – New York, New Jersey and Pennsylvania – to hold Town Hall Meetings for members, local community groups and Visions employees, giving them the space to voice opinions and generate new ideas,” he says.

Novak’s core role at Visions FCU is centered around digital transformation, which he calls a “central tenet for our success.” He adds that “delivering a top tier member experience has become an increasing trend across the entire banking industry and, for Visions, it’s our communities, members and employees that are really the driving force behind our digital transformation journey.” Since embarking on that journey, Visions FCU has developed a ‘member experience department’ to drive innovative changes to better serve the company’s members.

Novak’s digital team has focused on four key pillars of digital member-facing technology: online banking, mobile banking, account opening and consumer lending. “We knew we had to get the basics right, then we can build a more sophisticated technology ecosystem on top,” he explains. As of 2018, Visions FCU successfully implemented the four pillars, providing members with “a connected and unified experience with no drop-off points.” 

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