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ADVIA CREDIT UNION

Case Study

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$2.9 BILLION CREDIT UNION TRANSFORMS OPERATIONS, SAVES THOUSANDS WITH LOGICPATH
INTEGRATION

Who: Based in Oshtemo, Michigan, Advia Credit Union has $2.9 billion dollars in
assets and is one of the largest credit unions in Michigan.

Joann Nupnau, Operations Support Specialist at Advia Credit Union.

What: Customer since 2015, Advia has 29 locations on C3 Financial.


THE CHALLENGE

Advia Credit Union’s currency management process was previously complicated and
manual, involving various steps from ordering to management oversight. The order
and deposit process relied heavily on employee background knowledge and
dedicated observation of cash trends and limits. Cash level volatility needs
also required continued repetitive management practices which pulled the team
away from other responsibilities. Additionally, the process involved manual
10-key typing of cash orders to Alloya, leading to potential errors and
inefficiencies. Unnecessary emergency orders and managing restrictive cut-off
times also contributed to elevated operational expense. Moreover, management
recognized strategic challenges in assessing annual cash limit decisions.


THE RESULTS

 * Time Savings: 
   * The operations team saved at least 1 hour per day x 250 business days x
     $30/hr. average, resulting in average savings of $7,500 per year.
   * 2-Day lead time cut down to 1 day.
   * Management saw a time reduction in planning cash limits, from months to
     just 2 weeks via easy reporting and C3 recommendations. 

 * Cash Reduction: 
   * With logicpath, Advia Credit Union was able to easily see via reports that
     they had 26.5% excess cash.
   
 * Cost Reduction:
   * Fewer emergency shipments were made due to increased forecasting accuracy
     of orders and deposits.

 * Increased Accuracy:
   * Advia’s chosen confidence level per denomination is 89.84%. With logicpath,
     outputs are greater than the average level at 91.91%
      
 * Efficiency: 
   
   * Manual cash orders were eliminated with Alloya integration. 

 * New Partnerships: 
   * Advia was equipped with a USA-based support team with ex-bankers and
     seasoned client service team members.

 * Customizable Forecasting: 
   * Predictions made based on usage, lead times, delivery schedules,
     volatility, limits, holidays, and special events. 
    


THE STORY

Advia streamlines its cash forecasting process by automatically receiving daily
files from Symitar through logicpath. These files populate the necessary data
for C3 Financial to forecast across Advia's 29 locations, covering various
cashpoints such as teller drawers, cash recyclers, branch vaults, and ATMs.
Subsequently, logicpath transmits the order data to Alloya Corporate Federal
Credit Union on behalf of Advia, ensuring a synchronized process with
confirmation received by all three parties. 

On reviewing the Guidance vs. Actual Residual Reports, C3 Financial revealed
that, on average, Advia maintained an excess currency of 26.5% across their cash
network. However, it's noteworthy that not every location exhibited surplus
cash; the variance ranged from 2 locations needing to carry more cash by
9.5%-16.5%, to others requiring a reduction in cash by 1.9%-74.8%. 

In their approach, Advia selected an average confidence level per denomination
at 89.84%, while C3 Financial's forecasting outputs surpassed this confidence
level, reaching an impressive 91.91%. 

Joann Nupnau, Operations Support Specialist at Advia Credit Union, shared
insights during an interview conducted by logicpath. Here's what she had to
say. 

How has logicpath improved your financial institution's operations and
efficiency? 

“Logicpath has saved us exponentially in terms of operations and efficiency.
Since the latest upgrade especially and the integration with Alloya, we no
longer have to manually place cash orders for each branch, saving us on the
Operations side alone an average of one hour per day. With the auto
approve/fulfill feature, branches don’t have to wait for us, or remember
themselves, to take care of requisitions to start the next. Planning for yearly
cash limit changes has been so much easier having all the data in one report
readily available for our managers and operations team to review. Branches are
more aware of their limits because of getting daily alerts when they are over,
and we’ve never had anything like that before. Fewer emergency orders are being
placed because of the cut-off time alerts as well that have been customized to
go out to all the tellers at each location responsible for ordering cash.” 

Can you share any specific challenges you were facing before using C3 Financial
and how C3 Financial addressed those challenges? 

“Before using C3 Financial, we were guessing and going by past knowledge of
employees and cash trends, especially around major holidays, for orders and cash
limits. This often led to not enough or too much cash on hand. C3 has taken the
guesswork out of all that and uncomplicated the process. Housing trends from the
past year, forecasting future use, and accounting for what is on hand, branches
are now aligning better to the needs of our members. With all the information in
one place and readily available, it is easier for management to see the
reasoning behind changing limits. Last year having this at our fingertips it cut
the month(s)-long process down to 2 weeks.” 

What benefits have you experienced from partnering with logicpath? 

“One of the best outcomes from partnering with logicpath has been all the time
savings we’ve gained. Not only is the process time for placing orders reduced by
having the file go directly to Alloya but we’ve been able to reduce our lead
time by a day! The way we were ordering cash before, we needed to have branches
submit their order to our Operations team two full days before delivery. With
all the integrations, they just need to have them in and approved by the morning
cut-off time the day before. This has been a game changer for us! It allows for
better planning; especially for locations that get two deliveries a week.” 

Please describe your experience with logicpath’s client services teams. 

“I can’t say enough about client services; they have all been great to work
with. They are quick to respond and are eager to help resolve any issues that
arise. From helping to make sure all our cash points were set up correctly to
just checking in and seeing how things are going, the service team is amazing.” 

What do you MOST appreciate about the partnership with logicpath? How are they
different than your other partners? 

“What I appreciate most and what sets logicpath apart from other partners is
their connection with us and willingness to help. The open communication and
transparency through processes have aided our partnership as well. Logicpath has
been patient in our learning all the ins-and-outs of everything they offer, and
they have helped us every step of the way. From emailing the support team to
demo webinars and 1:1 calls with our account manager; the resources are
unmatched. They hear our suggestions and often take them back to the team to see
if it is something that can be worked into a future version.” 

Any other positive feedback you can share with logicpath? 

“The product speaks for itself, and the staff adds to the fantastic experience
we’ve had with C3! I love how customizable the product can be for the needs of
each location. It is easily laid out to see and explain what the data represents
to the branch staff or regional management. Paula, Heather, and David are
amazing to work with. I always look forward to our interactions and to see what
new enhancements they bring.” 

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ABOUT ADVIA CREDIT UNION

Advia Credit Union, serving members for nearly 90 years, has grown substantially
over the years through both organic methods and mergers and acquisitions.
Headquartered in Oshtemo, Michigan, its full-service branch locations, digital
delivery, and no-fee Alliance One and Co-Op Network ATMs continue to grow.
Advia’s mission is to provide financial advantages for its members and
communities served and focuses heavily on proactively seeking reliable and easy
access to financial solutions for its nearly 200,000 members throughout
Michigan, Illinois, and Wisconsin.


ABOUT ALLOYA CORPORATE FCU

As a credit union for credit unions serving 1,400 members across the U.S.,
Alloya delivers unique solutions that give credit unions a competitive edge in
the marketplace. Together, the member-owners of Alloya wield aggregated power to
gain access to affordable, comprehensive products and services – including
payments, liquidity, investments and member solutions. The team of 200
professionals at Alloya view themselves as an extension of the credit unions
they serve, ensuring that each credit union’s best interest is always at heart.


ABOUT LOGICPATH

Georgia-based logicpath provides software solutions and analytics to financial
institutions and retail organizations. Logicpath has proudly served the needs of
more than 2,300 clients in 50 states and Canada by providing “Smart Solutions
that Make Dollars and Sense.” The foundation for logicpath originated in 2008
when the company emerged out of its sister company, Ceto and Associates, as a
software solutions company. In 2020, logicpath was purchased by Loomis Armored,
US and remains its own company. 


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