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Background: CFE Federal Credit Union is a member-owned, not-for-profit financial cooperative, offering comprehensive financial solutions that help members achieve their financial goals. CFE has been servicing their member community in central Florida since 1937. With the support of a loyal member base, CFE has become a billion dollar institution earning a 5 start ranking for their strength and security.

The Challenge: Since one of CFE’s primary objectives is the fulfillment of member financial goals via low rates, fees and providing viable return opportunities, it is no surprise they have realized steady growth over the last 70 years. With more active and potential members than ever before, CFE was realizing a high volume of member inquiries within traditional service channels. As a result, controlling costs, balancing resources and maintaining exceptional member service was becoming a real challenge.

The Solution: CFE was in need of an efficient way to drive member experience while reducing the strain on traditional member service inputs. As a solution, CFE looked to rapidly deploy SilverCloud Breeze™ to answer predictable member inquiries, drive down call volumes and deliver their deep financial expertise.

Results:

• $72,000 average yearly savings
• 55% reduction in emails received
• 15% lower call volume
• 5% average member growth
• Improved brand awareness and recall