Background: The UTSA Federal Credit Union was chartered to serve the financial needs of UTSA students, alumni, faculty and staff. While the UTSA FCU is only in its third year of operation, it has...




Background:


 The UTSA Federal Credit Union was chartered to serve the financial needs of UTSA students, alumni, faculty and staff. While the UTSA FCU is only in its third year of operation, it has already made significant inroads in meeting the financial needs of the UTSA community. The UTSA FCU is not officially affiliated with the University of Texas at San Antonio. In fact, as a fictional entity it is not officially affiliated with anyone. Nonetheless, the UTSA FCU seeks to be the financial service institution of choice for the UTSA community. To this end, the mission of the UTSA FCU was developed to align directly with the needs of the UTSA and the community it serves.


    In short, the mission of the UTSA Federal Credit Union is to provide all members of the UTSA community the opportunity to pursue a brighter future, bolstered by the assurance of financial security. To this end, the UTSA FCU recognizes the significant role that education plays in building brighter futures and will emphasize financial products and services that provide the broader South Texas community access to the benefits of a UTSA education.


    In support of this mission, the Board of Directors has identified 4 strategic goals that guide all UTSA FCU investment decisions. These 4 strategic goals are as follows:


v To improve access to FCU products and services to existing and prospective members


v To improve access to educational opportunities for existing and prospective members


v To improve customer satisfaction with existing FCU products and services


v To expand the current suite of UTSA FCU product and service offerings






Program
Title:  Smart Phone Financial Applications





Objective:To objective of this program is to offer all members the ability to access FCU services directly using their smart phones. The program will include many projects - each of which will deliver a unique application. Examples of the projects to be managed under the auspices of this program are an account balance application, a funds transfer application and a loan application app.





Brief Description:
The UTSA FCU currently provides many services. A preponderance of FCU members own a smart phone. The market place currently provides numerous different brands of smart phone. This program will adopt an integrated approach to managing the numerous projects that will be conducted in the coming years to provide applications for a wide range of banking services across numerous brands of smart phones. The 2016 program initiation effort will establish the program and develop plans for the projects to be accomplished in subsequent years.





Strategic Fit:
Provides access to financial information for all members.





FCU Benefits:


·      Improved member retention through enhanced quality of service


·      Potential life long relationship





FY 2017 Budget Wedge: $120K





Risk Assessment:


·      This capability is becoming widely available


·      The UTSA FCU has a very limited Information Services staff




My question is which ones of the 4 strategic goals will this project (smart phone financial application) accomplish and how?






Dec 01, 2021
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