BETTER BANKING… It’s What We Do at RBFCU!
Randolph-Brooks Federal Credit Union (RBFCU) is the largest Texas-based credit union with locations in Austin. We are a Top 10 credit union in the United States according to Bankrate.com, which has been cited by publications such as The Wall Street Journal, USA Today, New York Times, CNBC and Bloomberg, and attracts more than 15 million unique visitors each month to its website.
Bankrate bestowed this rating while encouraging readers to “look beyond physical location in a digital age” and consider joining a credit union based on the digital banking experience. Bankrate explained the RBFCU Mobile app “offers the biggies, like mobile deposit capture.”
As a credit union, our primary concern is that we are driven by People Helping People. We have proven systems where our people are helping people conduct financial transactions in every way they expect to be possible – in person, on the phone, or on their computing and mobile devices. No matter the way financial transactions get done, RBFCU makes cutting edge, user-friendly and responsive platforms available to our more than 800,000 members.
RBFCU has long been a leader among credit unions and other financial institutions by providing technology for self-service of all accounts. In 2018, RBFCU unveiled the Online Banking platform that has extended the credit union’s already user-friendly transactions systems for both online and mobile functioning.
The credit union did not outsource this effort. We counted on our own employees to work with People Helping People in mind. They fashioned a product that allows our members to more easily access and navigate their accounts, explore new products and experience improved overall functionality regardless of the device they are using. This is offered through a personal-accounts platform and one for business owners as well.
Through Online Banking, loan applications can be made and approvals can be finalized on personal loans within seconds, with funding of many approved personal loans accomplished for the member in less than a minute. Whether it’s an auto loan or mortgage loan, all documents to support loan underwriting and any signatures required can be done on a single platform.
The project to support Online Banking at RBFCU was not just a front-end user interface, but a major architectural shift. This included many moving pieces with the technologies and data that go on behind the scenes to support the updates. It’s been a huge success and well-received by our members. There have not been any major functionality issues. Improvement in the time taken for members to get to their accounts is a huge plus. The platform provides access to about 580,000 online users.
In the realm of payment services, RBFCU is offering members, in many cases, the availability to instant digital replacement of a debit card. Rather than waiting for a new card to arrive in the mail, a member can receive the new card details instantly to make online purchases or add to a mobile wallet – getting 10 cents cash back from each purchase.
RBFCU has long provided video remote assistance for our visitors to branch locations that can help during the lobby’s busy hours or when their transactions are more involved than a deposit or transfer of money. Now, these services are being offered by RBFCU through ATMs that provide live, video sessions with a teller.
RBFCU is an industry leader in fraud protection as well. The credit union is confident and capable in terms of protection from cybersecurity threats that our payment cards come with $0 fraud liability.
Through proactive, visionary use of technology, RBFCU is taking the credit union mindset of People Helping People to new horizons.