Tips & Tricks Archives - Main Street Inc.

How to Write a Check – Main Street Goes Back to School

George Sawaya — Wed, 27 Aug 2025 22:21:32 +0000

It’s happened to nearly all of us at some point – we pull out our checkbook and locate a pen before realizing it’s been a while. We start to doubt ourselves: “Do I have to sign it? If so, front or back? What’s the memo line used for again?” etc.

We may write fewer checks these days, but the amount per check is way up. According to the Federal Reserve, the average value per check in 2024 was $2,745. That’s a nearly $700 increase compared to 2020.

We’re using checks for some of the biggest and most important payments in our lives – wedding venues, down payments on cars, or the deposit on a new apartment. In moments like these, getting it wrong is simply not an option.

So, in honor of the Back-to-School season, we’re going over some check-writing basics and a few finer points, too. Take your seats and pull out your indelible ink pens! Class is in session.

Check Writing 101 – A Main Street Guide

We get it, checks aren’t always intuitive. There’s a lot of information there and asking the person you’re paying for help can be, well, embarrassing.

Let’s take a quick tour of the average personal check before diving into the steps themselves.

Parts of a Check

The good news here is that not every part of a check requires your attention. Let’s look at each section individually. Please keep in mind that your check may appear differently in some areas.

How to Write a Check, Step by Step

Now that you’re familiar with the parts of a check, let’s walk through the process of filling one out. If you’re tripped up by a certain word or phrase, consult the small glossary we’ve included at the bottom of the page.

Step 1 – Add the Date

To start, make sure you’re using a pen with indelible ink. Indelible ink is simply a kind of ink made to be permanent (no erasable ink pens, please). Now, let’s add the date.

The format of MM/DD/YYYY is most widely accepted and least likely to result in confusion. That said, if you write out the date fully (e.g. September 15, 2025) that’s fine, too.

Top Tips:

Review the date for legibility and errors
Use the current date*

*Post-dating is a common practice but not always supported. Expect to pay the moment a check is written to avoid overdraft fees or unexpected withdrawals.

Step 2 – Designate the Payee

Now, let’s move on to who you’re paying. On the payee line (reading: Pay to the Order of) add the full legal name of the person or business. If you’re unsure who to make a check out to, ask beforehand.

Top Tips:

Review the payee information for legibility and errors
When in doubt, ask the payee (when possible) to review your spelling
Avoid making checks out to “Cash,” as these can cashed by anyone

Step 3 – Add the Amount (Numerical)

To avoid under or overpayment, we add the amount twice to each check. The numerical amount, often called the Courtesy Amount, goes in the small amount box provided.

Legibility is crucial here. Take your time and fill up as much of the box as possible to avoid alteration. Remember to include a decimal point and the cent amount afterward.

Top Tips:

Fill the space as best you can
Use zeroes after the decimal point or include the cents (e.g. $650.00)
Compare the numerical to the spelled out amount (see next step)

Step 4 – Write the Amount (Spelled Out)

Now, we’re moving on to the dollar or amount line located below Pay to the Order of. This is the written amount, also known as the Legal Amount. All you’re doing here is spelling out the same amount you included numerically in the amount box.

Take your time and avoid shortcuts to ensure your check is accepted. As an example, if you’re writing a check for $650.00, you would spell it out like so, “Six hundred and fifty dollars and 00/100.”

The cents are usually expressed as a fraction without being spelled out. Finally, you’ll want to draw a straight or squiggly line through any remaining space to prevent alteration.

Note: If the Courtesy Amount (numerical) and the Legal Amount (written) don’t match, banks will honor the Legal Amount.

Top Tips:

Double-check that the written amount matches the numerical amount perfectly
Draw a squiggly or straight line through any unused space

Step 5 – Fill Out the Memo Line (Optional)

The memo line is purely optional, but filling it out is generally a good idea.

Here, you’ll simply add what the payment is for. Doing so helps you keep up with what you spent and where. In some cases, utility companies (power, water, etc.) may require your account number with them to be listed on the memo line.

Top Tips:

Be specific for recordkeeping purposes (e.g. April Water Bill 2025)
Keep it short, sweet, and professional

Step 6 – Add Your Signature

You’re almost done! To add your signature, locate the signature line (usually in the bottom right-hand corner on the front of your check).

Remember to use the same signature you used with the bank that issued your checks. Once you’ve added your John Hancock, it’s time to hand over the check!

Top Tips:

Take a moment before signing to review all the information you’ve included
For safety reasons, only sign a check when you’re ready to hand it over

Bonus: When & How to Write a Voided Check

Payment isn’t always the goal of the checks we write. Sometimes, we need to provide or discard a check while ensuring that it won’t be used for fraud.

To void a check, simply write “VOID” in large black letters over the front. If you’re providing a check for verification or automatic payments, avoid covering up the account information. That’s it! Simple as that.

You may need to void a check if or when:

You make an error in indelible ink
Providing a check for account verification
Setting up direct deposit with your employer
Setting up automatic payments for utilities or others

Glossary of Common Check Terms

Here are a few basic check terms and definitions to keep you in the conversation. For more information about check terminology, speak to a teller at your local bank or credit union.

Account Balance

The amount of money available for use in a checking or savings account.

Business Check

A check used by businesses for the payment of debts or purchases.

Check Endorsement

When a payee signs the back of a check, authorizing a financial institution to process or deposit it.

Checking Account

An account designed for frequent transactions, including depositing, withdrawing, or paying bills.

Legal Amount (Written Amount)

The dollar amount written out in words on the “Amount Line” of the check. This amount is considered legally binding.

Payor

The person or business paying with a check. Most checks come with the payor’s name printed.

Stop Payment

A request by a payor to cancel a payment made by check before it is processed.

Bounced Check

When you write a check for more money than you have, that check may “bounce” back to you without being paid.

Certified Check

A personal check that’s been guaranteed by a financial institution.

Check Fraud

A criminal practice of using, altering, or printing checks to defraud people, businesses, or financial institutions.

Courtesy Amount (Numeric Amount)

The dollar amount written numerically in the small box on the check (e.g., $125.50).

Payee

The person or business being paid with a check. We put the payee’s name on the “Pay to the order of” line.

Routing Number

A nine-digit code printed on checks that identifies the bank or credit union that issued the check.

Void

A word written on the front of a check when invalidating that check.

Main Street: Printing High-Quality Checks for 25+ Years

At Main Street, we LOVE checks. As a nationwide check vendor, we serve over 2,000 institutions by providing personal, business, and high-security checks among so much more. Learn more about who we are and what we do today.

The post How to Write a Check – Main Street Goes Back to School appeared first on Main Street Inc..

The Main Street Guide to Marketing Automation for Community Institutions

Mandi McKendree — Mon, 25 Aug 2025 21:36:24 +0000

When people hear “marketing automation,” they often picture complicated software dashboards and expensive platforms designed for Fortune 500 companies. But here’s the reality: marketing automation isn’t just for big financial institutions.

In fact, it’s one of the smartest, most affordable moves a community bank or credit union can make to stretch their marketing resources further while delivering a better, more consistent customer experience.

Let’s unpack why automation matters — and how it can work for your institution.

The Main Street Guide to Marketing Automation & How to Get Started

At community financial institutions of every size, newer, more powerful tools are needed to enrich existing relationships and cultivate new ones. But too often, we discount the role these tools can play while also shortchanging our ability to use them.

So, before we dive deeper, let’s clear up a few common misconceptions about marketing automation.

Debunking Common Myths About Marketing Automation

Myth #1: It’s only for big banks and enterprise budgets.

Truth: Many affordable, scalable solutions are designed specifically for smaller institutions. Even with a lean marketing team, you can automate essential communications and campaigns.

Myth #2: Automation makes marketing feel impersonal.

Truth: When used well, marketing automation helps deliver more timely, relevant, and personalized messages — exactly what your customers expect today.

Myth #3: It’s too complicated for a small team.

Truth: Getting started with automation can be as simple as automating a welcome email or scheduling social media posts. You don’t need to overhaul your entire strategy on day one.

Myth #4: It’s just about saving time.

Truth: While it absolutely frees up staff capacity, the bigger value lies in improving customer engagement, increasing consistency, and making sure no opportunity falls through the cracks.

What Is Marketing Automation, Really?

At its simplest, marketing automation is the use of software to handle repetitive marketing tasks like email campaigns, social media posts, customer reminders, and lead nurturing — all with minimal manual effort.

But it’s not just about saving time; it’s about using technology to create timely, personalized, and relevant messages for your customers. Think of it as having a digital marketing assistant who never sleeps.

Increases Efficiency

Automating routine marketing tasks — like sending welcome emails to new account holders, scheduling reminders for loan renewals, or delivering monthly newsletters — frees up valuable time for your staff to focus on strategic initiatives, community engagement, and customer service.

Example: Instead of manually pulling a list of mortgage customers to send refinancing offers, automation software can segment that list for you and schedule personalized emails based on each customer’s loan details.

Boosts Customer Engagement

Today’s customers expect consistent, timely, and relevant communication. Marketing automation makes it easier to meet those expectations by delivering the right message to the right person at the right time.

Example: If a member abandons a loan application online, an automated follow-up email can remind them to complete it, offer assistance, or invite them to schedule an appointment — improving conversion rates without extra legwork.

Maximizes Marketing ROI

By targeting specific customer groups with personalized, data-driven messages, you increase the likelihood of engagement and response — without increasing your marketing spend. Automation also reduces the risk of missed opportunities and ensures your messages are consistent across channels.

Example: An automated birthday greeting program paired with a special offer (like a rate discount or fee waiver) boosts goodwill and customer loyalty — a small gesture that can turn into long-term value.

Easy, Practical Ways to Get Started with Marketing Automation

You don’t need an enterprise platform to see the benefits of marketing automation. Start with a few practical, high-impact tactics:

Automated Email Campaigns

Welcome emails, loan renewal reminders, birthday greetings, holiday promotions, and monthly newsletters.

Lead Nurturing

Create a series of automated messages that educate prospects on your services, special offers, and community involvement.

Customer Surveys & Feedback Requests

Schedule automatic surveys after key interactions like account openings or loan closings to gather insights and improve service.

Social Media Scheduling

Plan and schedule posts in advance to maintain a consistent online presence, even during busy periods.

Event Promotion & Follow-Up

Use automation to invite customers to community events, then send thank-you messages and recaps afterward.

Why Marketing Automation Is Worth It

Community banks and credit unions that embrace marketing automation don’t just save time — they build stronger relationships and grow faster. According to research by Nucleus Research, marketing automation delivers a 14.5% increase in sales productivity and a 12.2% reduction in marketing overhead on average.

For smaller institutions, that’s a significant advantage in an increasingly competitive landscape.

Automation That Feels Personal

The beauty of marketing automation isn’t just in what it does, but how it does it. Done right, it doesn’t feel robotic — it feels thoughtful, timely, and personal. Customers still want to feel known and valued by their local bank or credit union. Automation helps you deliver that experience at scale.

It’s not about replacing human connections; it’s about making more room for them.

Marketing Automation Helps Community Institutions Succeed

Too often, we let terms like “data segmentation” and “behavioral targeting” put us off the tools and tech we truly need. But as you’ve read here, marketing automation doesn’t have to be intimidating — with just a few, simple steps, it can be just the thing your institution needed to strengthen new and existing connections.

Ultimately, the community institutions that embrace marketing automation today will be the ones leading the pack tomorrow. So, start simple, stay practical, and watch the results pour in.

Embrace Marketing Automation and Never Look Back

The digital transformation of the financial services industry is an undeniable force. Institutions that resist for too long do so at their peril. But going digital doesn’t have to be dizzying. For more easy tips and to stay ahead of the times, check out our free eBook about how banks and credit unions can get started with a digitized marketing approach.

Download Now

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Checks, Fraud, and Federal Reform: A Deeper Look

George Sawaya — Wed, 20 Aug 2025 15:50:09 +0000

Imagine paying for a new car with 3,000lbs of wheat. Centuries ago, that wasn’t far from reality. In the earliest days of buying and selling, those conducting business abroad faced a serious challenge.

How can you pay for goods or services without carrying large amounts of currency or commodities with you? The answer was simple – a promissory note could be carried more easily than large quantities of coin or grain and could be exchanged elsewhere for payment.

The humble check has taken dozens of forms throughout the ages – from inscribed clay tablets to the high-security financial instruments of today. But now, in the digital age, checks face stiffer competition than ever before. Earlier this year, a pair of executive orders were signed into law that could end the check as we know it – or perhaps not.

Executive Orders Prohibiting Check Payments from the Federal Government

On March 25, 2025, the President signed two executive orders directing the US Department of the Treasury to transition away from paper checks for federal disbursements.

Executive Order 14247 and Executive Order 14249 are aimed at digitizing federal payments and combating fraud. To accomplish these goals, all federal agencies are required to transition to electronic funds transfer (EFT) by September 30, 2025. Thankfully, the executive order includes limited exceptions to that September 30 deadline, especially in light of public commentary pointing out many serious issues.

What are Federal Disbursements?

In short, federal disbursements are payments made by the federal government. These payments may go to private citizens, contractors, vendors, and others.

The most common federal disbursements include:

Tax Refunds
Unemployment Benefits
Social Security Benefits

Veterans’ Benefits
Student Loans
Disaster Relief Funds

Research Grants
Small Business Payments
Vendor/Contractor Payments

Under this pair of executive orders, all of these payments will have to be made electronically – a small lift for municipalities and big businesses, but a serious change for some citizens and small businesses.

This begs the question: is such a major disruption justified given the challenges cited in the executive orders – those of check and mail fraud?

Zooming in On Fraud – Check & Mail Fraud by the Numbers

Is Check Fraud Really That Bad?

There’s no denying that check fraud is a serious issue affecting private citizens and institutions alike.

The Association for Financial Professionals (AFP) has been tracking the ups and downs of financial fraud over recent years by calculating the percentage of institutions affected.

2023

Reported Check Fraud

2024

Reduced Check Fraud

In 2024, 79% of institutions reported financial fraud attempts, with 63% of institutions experiencing check fraud specifically. For context, in 2023, 80% of institutions reported general fraud with 65% of incidents blamed on checks.

In other words, from 2023 to 2024, general fraud has fallen by 1% while check fraud has dropped by 2%. Fraud is dropping slightly – good news for everyone.

What are the Most Common Forms of Financial Fraud?

When it comes to the origination of fraud, checks are a footnote compared to business email compromise (BEC). BEC is a type of phishing attempt relying on impersonation, malicious links, and false urgency to extract sensitive information.

According to the AFP’s Payments Fraud Survey Report, these were the most common sources of fraud reported in 2024:

Business Email Compromise (BEC) – 62% of institutions affected
Tactics Other than Email* – 49%
Vendor Impostor – 45%
Invoice Fraud – 24%
Mail Fraud – 23%

*forged checks, stolen cards, corporate synthetic identity fraud.

Payments Fraud Survey Report

To be clear, mail fraud and forged checks (tactics other than email) appear on this list, but they’re not nearly as common as email fraud. Yet no executive order appears forthcoming that bars the use of email at American institutions or otherwise mandates cybersecurity training for financial professionals.

Is Mail Fraud Really That Bad?

Mail fraud and check fraud are often mentioned in the same breath. Postal interference is a significant contributing factor, after all. Statistics are scarce for mail fraud specifically, though a 2023 report by the Financial Crimes Enforcement Network (FinCEN) attributed $688 million in losses to mail fraud between February and August – a six-month period. Doubling that figure to account for a year’s worth of mail fraud amounts to a $1.3 billion estimate.

Package theft, meanwhile, accounted for $12 billion in losses throughout the 2024 calendar year – more than 9 times the cost of mail fraud in 2023. Porch pirates are more successful by far than fraudsters who steal checks from mailboxes.

Proposed Solutions & Likely Impacts

Are Electronic Payment Methods That Much Safer Than Checks?

Unfortunately, no payment method is 100% secure. Wherever money changes hands, there will be bad actors scheming to intercept it – from old fashioned mailboxes to encrypted cryptocurrency wallets.

Check fraud is among the least sophisticated forms, contributing to its prevalence today. But cybercrime, identity theft, and malware are evolving to take advantage of more modern forms of payment. The AFP’s report also breaks down methods of payment affected by business email compromise.

Transaction Types Most Affected by Business Email Compromise:

Wire Transfers

ACH Credits

Checks

ACH Debits

Credit Cards

P2P Payment Services

While the least sophisticated criminals focus on checks, others collect through electronic transactions. These numbers reveal that a simple email is all it takes to skim funds from the most modern (and supposedly more secure) payment methods.

Is Everyone Ready to Receive Electronic Payments?

The latest data enables us to see a big picture, but there’s a human cost to fraud that’s not so easily quantified. Though admirable in their aims, these executive orders put certain segments of the American public at a disadvantage.

Not everyone has access to smart phones (tap-to-pay) or reliable internet. Additionally, not everyone is educated on the most modern payment methods. In rural America and elsewhere, the absence of paper checks could have serious consequences for the most vulnerable among us.

Detractors of the executive orders have rightly pointed out that they could negatively affect:

Senior citizens on Social Security

Disabled Americans on Social Security

Rural communities

The unbanked

Small businesses nationwide

As of 2025, nearly 74 million Americans rely on social security – about 21% of the population. Another 5.6 million households are unbanked, meaning that no one at the residence uses or has access to banking services.

If those numbers seem troubling to you, then you’re not alone. On July 24, 2025, the Social Security Administration backtracked on discontinuing paper checks for recipients who relied on them. While ambitious, these executive orders are not without complications that could take months or years to solve.

Is This the End of Paper Checks? No, Not Even Remotely.

Paper Checks Usage: 91%

To the growing pile of percentage points, we can add one more from the AFP’s report: 91% of surveyed organizations continue using paper checks – up from 75% in 2023. Checks aren’t just popular still; they’re demonstrably more popular than in recent memory.

The advent of high security checks – featuring microprint signature lines, 3D hologram foils, and other advanced printing techniques – has put the payment method back on the map. AI fraud detection and other emerging technologies are also reversing vulnerabilities.

So, while some in offices high and low insist the check is dead, many American citizens and businesses would simply disagree.

Sources:

Banca d’Italia. 2024. “Bank of Italy – Mesopotamian Clay Tablets.” Bancaditalia.it. 2024. https://www.bancaditalia.it/servizi-cittadino/musei-collezioni/museo-moneta/tavolette-mesopotamiche/index.html?com.dotmarketing.htmlpage.language=1&dotcache=refresh

“Modernizing Payments to and from America’s Bank Account.” 2025. The White House. March 25, 2025. https://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account‌

Leddy, Maureen. 2025. “Transition Challenges Expected as Treasury Goes Paperless.” Thomson Reuters Tax & Accounting News. July 8, 2025. https://tax.thomsonreuters.com/news/transition-challenges-expected-as-treasury-goes-paperless

“Finance and Treasury Survey Research & Economic Data.” 2025. AFP. 2025. https://www.financialprofessionals.org/training-resources/resources/survey-research-economic-data/details/payments-fraud

“FinCEN Issues In-Depth Analysis of Check Fraud Related to Mail Theft | FinCEN.gov.” 2024. Fincen.gov. September 9, 2024. https://www.fincen.gov/news/news-releases/fincen-issues-depth-analysis-check-fraud-related-mail-theft

Adkins, Matthew. 2023. “2021 Package Theft Annual Report.” Security.org. November 1, 2023. https://www.security.org/package-theft/annual-report

Desilver, Drew. 2025. “What the Data Says about Social Security.” Pew Research Center. May 20, 2025. https://www.pewresearch.org/short-reads/2025/05/20/what-the-data-says-about-social-security

“FDIC Survey Finds 96 Percent of U.S. Households Were Banked in 2023 | FDIC.gov.” 2024. Fdic.gov. 2024. https://fdic.gov/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023

Picchi, Aimee. 2025. “Social Security Retreats from Plan to Eliminate Paper Checks for Beneficiaries.” Cbsnews.com. July 24, 2025. https://www.cbsnews.com/news/social-security-benefits-paper-checks-ending-reversal

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Top Tips for Maximizing Check Program Performance – A Guide

George Sawaya — Wed, 06 Aug 2025 21:51:18 +0000

If you’ve written off your check program as “just a cost of doing business,” you’re not alone. In a world of mobile wallets and instant transfers, it’s natural that a check program would lose money, right? Well, not exactly.

Across the country, financial institutions are quietly turning their check programs into reliable sources of non-interest income. And the best part? Turning the ship around doesn’t take much time or money at all.

In an act of financial services judo, some institutions are using the market’s own momentum (along with a few clever cost-cutting moves) to flip their check programs head over tail. Here are a few proven methods for doing just that.

Chop Through Hidden Check Program Fees

Cut Costs Without Cutting Corners

With long-term contracts come long-term consequences. It’s not an overstatement to say that your choice of check vendor can make or break your program. But if you’re focused purely on the price of checks or the sign-on bonus some vendors offer, you’re missing the fine print where the real pain hides.

Some vendors are all too willing to slip in hidden fees that quietly erode your margins. The best counter move is a line-item audit of your check vendor agreement.

If you’re paying the following fees, it may be time to reevaluate that partnership before it lands another blow to your bottom line.

Common Check Vendor Hidden Fees:

Reprint Fees (including S&H)
Order Processing Fees
Program Management Fees

New Account Fees
Retail Price Changes
Branch Addition/Closing Fees

Perhaps the most galling are fees for customer service. If you’re paying for phone calls or troubleshooting, you can’t have conversations with your vendor – you can only make transactions. To see how your check vendor stacks up, download our Check Vendor Comparison Guide.

Download Now

Strike a Balance with Smart Pricing

Adjust Pricing with Purpose – Not Penalties

Checks are a product, sure, but at some institutions, they’re also like a public service. However you slice it, free checks – whether mandated or offered as a goodwill gesture – look a lot like red ink in your check program’s ledger.

Of course, the cost of a checkbook is minor compared to the fruits of a long-term account holder relationship. But there are other, more institutional ways to offset that cost while boosting performance.

Offer Fewer Checks in Free Orders

For a start, consider offering a Basic Package of personal checks for first-time or complimentary orders – typically 30 checks instead of 60 or 90. Most account holders won’t notice the reduced quantity, and many won’t use their full supply anytime soon.

For First Order Free or special promotions, The Basic Package with 30 checks gives the account holder a free, personalized order at the lowest cost. For ongoing “Club” programs that provide free checks, a large package (90 or 120 checks) reduces costs by requiring less order frequency.

Look for a check vendor that can support these strategies with flexible fulfillment options and an understanding of real usage trends.

Increase Check Costs for Others

Small but meaningful price increases for other checking customers could rebalance the equation like a well-timed parry – especially when coupled with improved check designs and added security features.

Meanwhile, partnering with a vendor that helps track order patterns and program performance can reveal unexpected revenue opportunities or cost savings, even in accounts where the checks themselves are free. Ultimately, the right check vendor for your institution should be able to help with your profitability modeling.

Master the Art of Check Program Promotion

Through Print & Digital Marketing

When it comes to increasing check program revenue, engagement is key – and a disciplined campaign can make all the difference. The more participation you have, the better positioned you’ll be to keep costs low and revenue high.

But we all know that it takes money to make money, and why would anyone invest in a token endeavor that’s already in the red?

Well, for starters, these marketing materials aren’t a heavy lift (either creatively or financially). Additionally, some check vendors will provide collateral at no extra cost.

All Main Street clients receive complimentary marketing materials to drive check program engagement, including:

One-sheeters for acrylic tabletop and T-style holders
Table tents
Statement stuffers
Digital ads for in-branch TVs
Digital ads for social channels

Bonus Tip: Offer More Compelling & Personable Check Products

The best marketing materials are only as good as the products they advertise. Thankfully, modern checks are anything but boring. With dozens of fun and festive designs, checks these days can match any personality.

Leverage Local Passions with High School & Collegiate Sports Checks

Few things are more personal than local sports fandom. Every community has a team or two close to their hearts. Some check vendors have licensing agreements in place with colleges and high schools, allowing them to reproduce team logos, colors, and mascots for checks that fly off the shelves.

Become a Preferred Business Partner in Your Community

Local businesses are a major driver of check program revenue. Furthermore, their check needs are larger and more predictable than those of private citizens. By offering branded business check bundles – complete with vouchers, deposit tickets, and payroll stubs – you can create new opportunities for reliable revenue.

Protect Account Holders from Fraud with High Security Checks

Check fraud is a pervasive and deeply concerning issue affecting institutions and account holders alike. But we’re far from powerless when it comes to protecting our funds from bad actors. Modern high security checks rely on advanced printing capabilities to drastically reduce the likelihood of duplication or alteration.

Don’t Throw in the Towel on Your Check Program

Fix it with These Simple Steps Instead

Operating a check program as a loss leader can be a sound strategy – especially when it helps attract and retain more valuable relationships. But with minimal effort or investment, your check program could work harder for the success of stakeholders and account holders alike.

Maximize Check Program Performance with Main Street

At Main Street, we provide Strategic Account Management at no extra charge to each of our 2,000+ clients. By conducting regular policy reviews, analyzing year-over-year performance, and suggesting new program initiatives to boost engagement, we can tailor check programs to meet your goals – whatever they happen to be.

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Reaching Customers Everywhere: Multi-Channel Marketing That Works

Mandi McKendree — Wed, 30 Jul 2025 18:05:08 +0000

In an increasingly connected world, your customers aren’t sticking to just one communication channel — and neither should you. Community banks and credit unions thrive on personal relationships, but those relationships are no longer built solely at the teller window.

Customers interact with their financial institutions across multiple touchpoints: online, through print, on social media, and in person at their local branch.

The challenge? Ensuring your message is consistent, seamless, and relevant no matter where that interaction happens.

The Main Street Guide to Multi-Channel Marketing for Banks & Credit Unions

At Main Street, we believe a consistent message across every channel is key to building lasting relationships. This guide breaks down how community banks and credit unions can turn multi-channel marketing into a strategic advantage — without overwhelming their budgets or teams.

Why a Unified Presence Matters

When your digital, print, and in-branch experiences feel disconnected, it creates confusion for customers and dilutes your brand. Maybe your email campaign says one thing, but the teller at your branch isn’t aware of the promotion. Or your website promotes a new product, but there’s no signage in your branches. These gaps may seem small, but to your customers, they add up.

A unified, multi-channel strategy ensures your customers see a consistent message wherever they engage with you — building trust, reinforcing your brand, and improving your marketing ROI.

Multi-Channel Isn’t Just for Big Banks

A common misconception is that multi-channel marketing is too complicated or expensive for smaller financial institutions. But the truth is, it’s more achievable (and necessary) than ever. In fact, community banks and credit unions are in a unique position to excel at it because you already know your customers better than the megabanks do.

By integrating digital, print, and branch experiences, you can meet customers on their terms — whether they prefer an email, a direct mail piece, or a face-to-face conversation.

Examples of Multi-Channel Marketing in Action

Digital + Print

Follow up a targeted email campaign with a personalized postcard. A customer who receives both is far more likely to act than one who only gets a single touchpoint.

Online + In-Branch

Promote a product or service on your website and social channels, then train your branch staff to reinforce the same message in conversations with customers.

Data-Driven Outreach

Use customer data (remember those myths we busted earlier?) to segment your audience. Maybe your young professionals respond better to SMS alerts and social ads, while your retirees prefer direct mail and phone calls.

Benefits of a Unified, Multi-Channel Approach

Stronger Brand Recognition

Customers who see consistent messaging across multiple channels are more likely to remember you when it matters — like when choosing where to apply for a loan or open a new account.

Improved Customer Engagement

When you meet customers where they are, on their preferred channels, you boost engagement rates and response rates.

Higher Marketing ROI

Multi-channel campaigns tend to outperform single-channel efforts. According to the Data & Marketing Association, multi-channel campaigns see 37% higher response rates than single-channel.

Better Customer Experience

A seamless experience reduces customer frustration and reinforces your institution’s commitment to personalized, community-based service.

Getting Started: Keep It Simple

You don’t need to overhaul your entire marketing program overnight. Start with a few simple steps:

Audit Your Current Channels

Where are you currently communicating with customers? Identify gaps and opportunities for alignment.

Create Cross-Channel Campaigns

Take one existing campaign — like a loan promotion or holiday club account — and roll it out across multiple touchpoints: email, direct mail, branch signage, social media, and staff talking points.

Research Tools and Partnerships

Determine which digital platforms, print vendors, and community partnerships can extend your reach without breaking the bank.

Train Your Teams

Ensure everyone — from marketing to branch staff — is on the same page about current campaigns, tools, and messaging.

Multi-Channel Marketing and Digital Transformation Go Hand in Hand

As you explore digital transformation and customer data analytics, integrating a multi-channel marketing strategy makes everything more effective. Your digital efforts become more visible, your data more actionable, and your brand more memorable. It’s not about abandoning your print or in-person experiences — it’s about connecting them to your digital efforts in a way that feels seamless and authentic.

The post Reaching Customers Everywhere: Multi-Channel Marketing That Works appeared first on Main Street Inc..

The Role of Print Marketing in a Digital World – A Main Street Guide

George Sawaya — Tue, 15 Jul 2025 19:06:40 +0000

We’ve all heard the phrase “print is dead” — but for community banks and credit unions, nothing could be further from the truth. While digital marketing is faster and often more cost-effective, traditional print marketing still plays a vital role in creating personal, tangible touchpoints that customers value and remember.

The real magic happens when you stop thinking of print and digital strategies as competing forces and start blending them into a cohesive, complementary strategy.

Let’s talk about why print still matters and how to make it work alongside your digital initiatives.

Why Print Still Belongs in Your Marketing Plan – A Main Street Guide

While your customers are certainly checking emails, scrolling social feeds, and managing their finances through mobile apps, print continues to hold a unique place in how people experience and remember a brand — especially when it comes to financial institutions.

Here’s why print marketing for banks and credit unions works.

What Print Marketing Can Do For Your Bank or Credit Union

Print Grabs Attention in a Crowded Digital Space

Consumers are bombarded by hundreds of digital messages every day. A well-designed postcard or direct mail piece can cut through the clutter, offering something tactile and personal that lands directly in a customer’s hands — not their spam folder.

Example: A direct mail campaign promoting your new mortgage rates or credit card rewards program can see higher open and response rates than a comparable email blast.

Supports Local, Community-Driven Brand Building

For community banks and credit unions, physical presence matters. In-branch signage, brochures, and print collateral reinforce your commitment to the neighborhoods you serve and create opportunities for customers to engage with your services while they’re already in your space.

Example: Promote a community event or financial literacy workshop with eye-catching posters and flyers in your branch lobbies and local businesses.

Enhances Customer Trust and Credibility

Printed materials — especially in financial services — often carry a sense of legitimacy that digital content alone can’t replicate. Brochures, welcome kits, and rate sheets offer reassurance and professionalism, particularly for customers making important financial decisions.

Example: New account holders appreciate receiving a printed welcome packet outlining services, contact details, and security tips — something tangible they can refer to later.

How to Blend Print and Digital for Maximum Impact

You don’t have to choose between digital and print. In fact, your marketing is stronger when they work together. Here are a few ways to integrate both:

Pair Direct Mail with Email Follow-Ups

Send a printed offer or event invite, then follow up with an email reminder and online registration link. Consistent messaging across channels boosts response rates.

Use Print to Drive Digital Actions

Add QR codes to direct mail, posters, and brochures that link to landing pages, appointment schedulers, or video content. It bridges the physical and digital experience seamlessly.

Coordinate Campaign Themes Across Channels

Align your in-branch signage, social media ads, and email newsletters around the same promotions or seasonal campaigns to reinforce brand recognition and messaging.

Print On-Demand for Personalization

Use marketing automation tools to trigger personalized print pieces — like birthday postcards or loan maturity reminders — that feel tailored and thoughtful.

Print Marketing Ideas That Still Deliver

Here’s a quick list of print tactics that continue to perform for local financial institutions:

Direct mail postcards and letters
In-branch posters, window clings, and digital screen graphics
Loan and product brochures
Welcome kits for new customers
Event invitations
Community sponsorship banners
ATM signage and promotional inserts

It’s Not Either/Or With Print & Digital Marketing — It’s Both

In a digital-first world, print isn’t obsolete — it’s an opportunity. When combined with digital marketing tools and strategies, print creates meaningful, multi-channel experiences that customers notice and remember.

The smartest community banks and credit unions aren’t choosing sides. They’re creating marketing ecosystems where print and digital work hand-in-hand to engage, inform, and build trust with their customers.

Make Print Marketing Work for You with Main Street

For the last 25 years and counting, Main Street has helped financial institutions engage their communities through custom print. From branded envelopes and in-branch marketing materials to our all-in-one marketing and engagement hub, Connect, we’re here to turn your outreach into outcomes.

The post The Role of Print Marketing in a Digital World – A Main Street Guide appeared first on Main Street Inc..

Top Tips for Home Loan Campaigns

George Sawaya — Thu, 05 Jun 2025 21:54:50 +0000

The housing market of today defies analogy. Is it a roller coaster? A small boat on violent seas? If it were a stage production, would it be a comedy or tragedy? Both?

Despite unsold inventory, tepid demand, and shaky consumer confidence, there is still opportunity in the helter-skelter housing market of 2025. But to use another analogy: in a pond with few fish, only the cleverest anglers get a bite.

What’s needed is a new approach to marketing home loans, a comprehensive strategy designed to reach and entice buyers in a sea of sellers.

The Ultimate Main Street Guide to Home Loan Marketing in 2025

Unfortunately, there’s no magic bullet for better home loan marketing. Instead, effective campaigns will use a data-driven strategy, a multi-channel marketing approach, and a dash of creativity.

Here’s how you can carve out an advantage when marketing home loans in your community.

1. Create Targeted Audiences to Catch the Right Fish

A wider net may catch more fish, but it won’t always catch the fish you want. In a tight housing market, data can help us weave an ideal net for the borrowers most likely to convert.

So, who’s buying homes? According to the business forecasting company Kiplinger, Millennials with growing families and first-time homebuyers from Gen Z are driving demand for homes in 2025.

When it comes to HELOC loans, meanwhile, Millennials and their Gen X predecessors are more likely to bite – that’s according to consumer financial services company Bankrate.

But age is not the only indicator. Depending on your community, any number of data points can help you tailor campaigns for maximum effect, including:

Assets & Account Balance

Credit Score & History

Income (Direct Deposit)

Debt-to-Income Ratio

Equity Intel Score

Current Home Equity

Chances are good that your institution has some of this information on file. And for the finer data points, third-party providers are more than happy to help. With the right marketing platform, you can segment audiences for a list of the most likely prospects.

2. Take Your Home Loan Message Online with Digital Marketing

The digital transformation of the financial services industry is a popular subject these days – and for good reason. Financial institutions that adapt sooner are more likely to reap the rewards.

Given what we know about buyers this year (young professionals, growing families), digital outreach is an absolute must. Foot traffic and word of mouth still count for something in 2025, but to reach the right audience, you need the right channels.

Email Marketing Best Practices

Regardless of who you’re speaking to with your email marketing campaign, there are a few best practices you’ll need to remember.

Personalize When Possible

Use data to address a reader by name for a personal touch.

Remember the Mobile Experience

Don’t forget to design emails for the mobile experience.

Balance Graphics and Text

Style and substance should complement each other.

Include Interactive Elements

Leverage payment calculators, infographics, and more.

Messaging for Home Loan Emails – Baiting the Hook

What do first-time buyers and HELOC loan candidates want to hear? What kind of message engages each audience? The answer comes down to their thinking and their motivation.

For Prospective Homeowners – Mortgage Focus

Interest rates are a major concern for buyers in 2025. Modern shoppers are educated on the housing market. They’re willing to accept a 6.8% interest rate now because they know refinancing can bring it down later. They’re also laser-focused on keeping monthly mortgage payments as low as possible.

Including an online mortgage calculator in your targeted emails is a great way to get the conversation started. Tracking clicks can also help with retargeting – using phone calls, promotional print, or further emails to engage with those who used the calculator but didn’t convert.

For Existing Homeowners – HELOC Focus

Some homeowners are happy right where they are. But after years of building equity, they’re short on savings – and at a time when home improvements, travel, and recreational vehicles are more popular than ever.

To strengthen your HELOC campaign, keep the possible outcomes at the core of your messaging. Prospects want to hear about flexibility and affordability, of course, but they’d rather hear about how they can use that money – for emergencies, tuition, life-changing vacations, or even a new boat.

3. Leverage the Power of Print Marketing

Digital marketing may be a fast lane to consumer engagement, especially among your target audience for home loans this year. But here’s the catch: wave after wave of emails, social posts, and targeted ads have desensitized us slightly to purely digital campaigns.

Ultimately, it’s gotten easier to tune out the digital noise. We hit the unsubscribe button, glance past targeted ads, and stop engaging with social channels. A digital campaign will put your message in front of the right person, but it won’t necessarily catch their attention.

This is where multi-channel marketing comes in.

Print Marketing Completes a Digital Marketing Strategy

Compared to space on the internet, ink is expensive. But promotional postcards can go where digital channels dare to tread. While each channel has individual advantages, they’re most powerful when combined. To demonstrate, here’s a small thought experiment for you.

Let’s suppose that a new restaurant opens in your area. They send you an email with a promotional offer, but you delete it as a matter of habit. The next morning on your way to work, you hear a radio ad for the restaurant before passing a billboard with their name and logo.

When you log into LinkedIn at lunch, you see a boosted social post for the restaurant, and when you get home that evening, you find a postcard in your mailbox with the same promotional offer from the email before. Now, how likely are you to visit the restaurant?

This is an example of how the multi-channel marketing stars align to create a sense of saturation. Your home loan campaign doesn’t have to include billboards and radio ads, of course. But combining print with digital can only increase the scope of your campaign while generating not only awareness but familiarity among your target audience.

4. Let the Creatives Cook: Professional Graphic Design & Copywriting

Let’s be honest, not every institution has an ongoing need or budget for a complete marketing department. But that shouldn’t hold you back from putting your best foot forward.

Your people have worn too many hats for far too long, and despite their best efforts, a more experienced touch could pay dividends.

Benefits of Professional Graphic Design

Graphic designers can use your brand colors and logo to make a compelling message pop, but they can also establish your brand as a trusted source for financial services. Best of all, they create campaign collateral in a consistent manner for increased awareness and authority.

Ask yourself what separates your emails, promotional postcards, and other collateral from your nearest competitor’s. If you don’t know the Pantone® code for your brand colors, you need professional help.

Benefits of Professional Copywriting

Similarly, copywriters employ the correct tone, rhetoric, and talking points to make the most convincing argument in a limited space. Effective writing shares less with painting a picture and more with making a cocktail – it’s about combining the right elements in a limited space for perfect balance.

Here again, consistency is key. Your messaging should sound like it comes from a single individual with a dependable attitude. That’s hard to achieve when you’ve got three different people (or a generative AI assistant) coming up with campaign messaging.

Make the Most of the Housing Market Moment with Connect by Main Street

These tips and best practices can take an underwhelming home loan campaign to the next level. But for long-term success, you need a marketing and engagement hub built for community banks and credit unions. That’s where Connect by Main Street comes in.

Powered by experience, supported by a dedicated team of creatives, and built with your audience and products in mind, Connect combines data, email, and print to make engagement easy.

See What Connect Can Do

Sources:

Carbonaro, Giulia. 2025. “US Housing Market Wobbles during Major Homebuying Season.” Newsweek. May 20, 2025. https://www.newsweek.com/us-housing-market-wobbles-major-homebuying-season-2074451.

‌Ayers, Carla. 2025. “Will 2025 Be a Good Year to Sell Your House?” Kiplinger. 2025. https://www.kiplinger.com/real-estate/will-2025-be-a-good-year-to-sell-your-house.

Ostrowski, Jeff. 2024. “Survey: Younger Homeowners Are More Willing to Tap Home Equity for Nonessential, Big-Ticket Purchases.” Bankrate. Bankrate.com. August 2024. https://www.bankrate.com/home-equity/home-equity-insights-survey/.

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Data Mythbusting: Debunking Misconceptions in Financial Marketing

Mandi McKendree — Fri, 30 May 2025 21:19:31 +0000

Data is one of the most valuable assets a community bank or credit union has, yet many institutions struggle to make the most of it. Misconceptions about the cost, complexity, and necessity of data analytics can hold institutions back from tapping into their full potential.

But here’s the truth: understanding your customer data doesn’t have to be overwhelming or expensive. In fact, it can be the key to driving engagement, improving customer relationships, and making smarter business decisions.

So, grab your safety goggles and let’s bust some of the biggest myths surrounding data analytics—MythBusters style!

Myth #1: “I Know My Customers Like the Back of My Hand. I Don’t Need Analytics.”

Sounds familiar? This myth is as persistent as one of Jamie Hyneman’s signature berets. The truth? Just because you think you know your customers doesn’t mean you have the full picture.

We’ve tested this one: ask two executives from the same bank who their customer is, and you’ll often get wildly different answers. Why? Because those answers are based on personal interactions, not data.

Sure, you might know some of your regulars, but do you know how they compare to customers at other branches? Or which demographics, financial behaviors, and spending patterns make up the bulk of your customer base?

Data moves you from guessing who your customers are to knowing who they are. Analytics shine a light on trends, patterns, and customer segments you never even considered. And that knowledge is pure gold when it comes to tailoring your marketing and improving your ROI.

Verdict: Busted!

Personal experience is valuable, but data-backed insights are essential for precision messaging and consistent engagement.

Myth #2: “Customer Analytics Cost Too Much for a Financial Institution My Size.”

This myth is like trying to blow up a cement truck with dynamite—it just doesn’t hold up under scrutiny.

Here’s the truth: you don’t need a Silicon Valley-sized budget to unlock the power of data. Affordable customer analytics solutions are available, and many service providers offer tools tailored to small and mid-sized financial institutions. Whether you partner with an analytics firm or start small with internal tools, there are options to fit your budget.

The ROI from better-targeted marketing and customer insights? That’s priceless.

Verdict: Busted!

Cost-effective analytics solutions exist for financial institutions of every size.

Myth #3: “Sharing Data Across Departments is Too Complicated.”

Ever seen Adam Savage try to build a Rube Goldberg machine? That’s what some banks imagine when they think about breaking down internal silos. But in reality, it doesn’t have to be that complicated.

Start by ensuring your marketing, sales, and branch teams are on the same page. Use a single platform or shared reporting to streamline collaboration. Once you see the benefits—like improved campaign results and happier customers—you’ll wonder why you didn’t do it sooner.

Verdict: Busted!

Better teamwork and the right tools make data sharing easier than you think.

Myth #4: “Big Data is Only for Big Banks.”

This myth is like the time MythBusters proved you can fold a piece of paper more than seven times—with the right approach.

If you think big data is reserved for megabanks with endless resources, think again. Community banks and credit unions are in the perfect position to leverage customer data. Why? Because you already have something big banks struggle to achieve: personal relationships with your customers. Combine that with data-driven insights, and you’ve got a winning formula for targeted marketing and strategic engagement.

Verdict: Busted!

Small banks can use data just as effectively—if not more so—than large institutions.

So, How Can Data Drive Growth?

When you let data do the talking, you unlock answers to three crucial questions:

Where Are My Customers Coming From?

Learn which branches are attracting specific demographics to optimize your strategies.

Who Are My Customers?

Get a clearer picture of their spending habits, financial needs, and lifestyle preferences.

How Can I Find My Best Potential Customers?

Identify the traits of your most profitable customers and target similar audiences.

Every Branch Is Unique,
& That's a Good Thing.

Each branch serves a distinct market. Data helps you understand those differences and use them to your advantage. For instance, one branch might thrive on young professionals, while another caters to retirees. By identifying these trends, you can adjust your marketing spend to target the right customers at the right branches.

Real-Life Mythbusting: Targeted Marketing in Action

One financial institution thought they knew how to reach their local Hispanic community: commercials on a specific TV station. But customer data showed that this audience preferred newer television shows and weather programming in the early morning. With this new insight, the institution shifted its marketing strategy and saw a 50% increase in new Hispanic customers.

That’s the power of knowing your audience.

The Data-Driven Advantage

Still not convinced? Consider this: according to Capgemini Consulting, banks that use analytics to guide their decisions have a four-percentage-point lead in market share over those that don’t. That’s a significant edge, especially when budgets are tight, and competition is fierce.

By embracing customer data, you’re not just making better marketing decisions—you’re setting your institution up for long-term success. Data-driven strategies improve response rates, maximize ROI, and give you the confidence to compete in an increasingly digital world.

So, Where Should You Start?

Getting started with data analytics doesn’t require a high-speed camera or a blast-proof testing range. It starts with the basics:

Data Collection

Make sure you’re capturing relevant customer information through your CRM, transaction history, and engagement data.

Data Hygiene

Clean, standardized data is crucial for accurate insights. Eliminate duplicate records, outdated information, and inconsistencies.

Data Standards

Establish clear guidelines for data entry, storage, and usage across departments. This ensures consistency and makes it easier to analyze and act on insights.

Turn Insights into Action with
Connect by Main Street

You don’t need to be a data scientist to put your customer insights to work. With the right tools, guidance, and strategy, any financial institution—no matter the size—can turn data into growth.

That’s where we come in. At Main Street, we help community banks and credit unions move from gut instinct to precision marketing. Our team doesn’t just talk about analytics—we help you make sense of your data, align your efforts across departments, and execute smarter campaigns.

Our all-in-one marketing and engagement hub, Connect by Main Street, makes it easier than ever to unify your marketing, tap into real-time insights, and drive engagement. Because knowing your customers is just the beginning—knowing what to do with that knowledge is where the real value begins.

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Demystifying Digital Transformation for Community Banks & Credit Unions

Mandi McKendree — Fri, 11 Apr 2025 14:45:54 +0000

Demystifying Digital Transformation for Community Banks & Credit Unions

Let’s be honest—“digital transformation” sounds like one of those trendy buzzwords consultants love to throw around. It brings to mind images of expensive software, endless training sessions, and an IT team speaking in code.

But in reality, digital transformation is just a fancy way of saying, “Let’s use technology to make things easier.” For community banks and credit unions, that means simple, cost-effective changes that improve efficiency, enhance customer service, and help staff work smarter—not harder.

What is Digital Transformation?

At its core, digital transformation involves integrating digital technology into operations to streamline processes, enhance customer interactions, and improve efficiency. For smaller financial institutions, this doesn’t mean adopting every new technology but rather making strategic choices that deliver the highest impact with the lowest friction.

Key Components of Digital Transformation for Smaller Institutions

Manual Process Automation

Identify repetitive, time-consuming tasks and implement simple automation tools to free up staff time. For example, automating loan application reviews can help reduce manual data entry and speed up approvals.

Digital Customer Experience

Offer online account opening, e-signatures, and mobile-friendly banking services. A credit union might implement a digital appointment scheduling system to reduce wait times and enhance convenience for members.

Data Utilization and Analytics

Leverage customer data to personalize services, improve risk management, and enhance decision-making. For instance, using transaction data to identify customers who may benefit from financial planning services. 

Cybersecurity Enhancements

Strengthen fraud detection, implement multi-factor authentication, and ensure compliance with industry regulations. A community bank could introduce biometric authentication for mobile banking apps to enhance security. 

Cloud-Based Solutions

Reduce infrastructure costs and improve accessibility with cloud-based banking software. Moving document storage to the cloud allows employees to access and process customer information securely from multiple branches. 

Fintech Provider Partnerships

Collaborate with technology partners to expand capabilities without large in-house investments. A credit union could partner with a fintech provider to offer AI-driven chatbots for handling routine customer inquiries. 

The Crawl, Walk, Run Approach to Digital Transformation

A gradual approach to digital transformation ensures that teams can adapt without being overwhelmed.

Crawl

Start small with automation tools like online appointment scheduling or basic digital forms.

Walk

Expand to mobile banking improvements, CRM integration, or chatbots for customer service.

Run

Fully integrate AI-driven analytics, digital lending platforms, and end-to-end automation.

How to Get Started Without a Huge Investment

Community banks and credit unions don’t need deep pockets to embrace digital transformation. Here’s how they can begin on a budget: 

Assess Current Processes – Identify areas where digital tools can improve efficiency and reduce manual workload.
Prioritize Low-Cost, High-Impact Changes – Implement affordable solutions like e-signatures, customer messaging platforms, or workflow automation tools.
Leverage Existing Technology – Maximize the use of core banking systems by exploring underutilized features.
Invest in Employee Training – Empower teams with digital skills to make the most of new technology.
Seek Partnerships and Grants – Explore fintech partnerships and industry grants that support small bank innovation.

Introducing Change: The Recommended Path Forward

Change management is crucial to ensuring a successful digital transformation. Here’s a roadmap to move forward:

Engage Leadership Early – Secure executive buy-in to support transformation efforts. 
Start with Quick Wins – Demonstrate the value of digital adoption with small, impactful changes. 
Communicate Clearly – Ensure transparency with staff and customers about new tools and processes. 
Gather Feedback & Iterate – Continuously evaluate and refine digital initiatives based on user experience. 
Scale Gradually – Once foundational changes prove successful, expand digital capabilities step by step.

Main Street Understands the Need for Digital Transformation

Digital transformation isn’t a one-size-fits-all approach, nor does it require a massive budget. By taking incremental steps, leveraging existing resources, and focusing on high-impact changes, community banks and credit unions can modernize operations, enhance customer experience, and remain competitive—all while maintaining their core values of personal service and community focus. 

Main Street is Your Print & Digital Industry Partner

As a nationwide check vendor serving thousands of community banks and credit unions, Main Street understands how tricky digital transformation can be. But institutions that embrace these changes are more likely to stay competitive. Ready to engage your community through print and digital channels? Contact Main Street today.

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How Account Manager Recommendations Saved 60% on Check Program Expenses

Amy Mathews — Tue, 05 Mar 2024 22:23:48 +0000

Here at Main Street, we understand the value of relationships and our service is what sets us apart in the check printing industry. At the heart of our service model is a group of dedicated Account Managers whose sole responsibility is to improve the check program performance of our community bank and credit union clients. Our Account Managers act as an in-house consultant to provide strategic solutions that help our clients meet their check program goals, whether that be reducing expenses, increasing revenue, or streamlining processes. Our dedicated Account Managers are assigned to every client we onboard to offer their industry expertise at no additional cost.

The Role of Partnership Reviews in Client Success

The foundation of a great partnership program is creating opportunities for consistent communication. Our approach to client success is centered around routine partnership reviews designed to foster open dialogue about the client experience, assess any quality or service expectations, and explore future initiatives to offer strategic recommendations for growth. During a partnership review, our Account Managers take time to perform a comprehensive program evaluation by investigating income reports, analyzing results, and offering expert recommendations for improvement based on their findings. In the fast-paced world of community financial institutions where every penny counts, this consultative approach has paid dividends for our clients.

Keep reading to learn how one credit union client reduced their program expense by 60% in just six months thanks to the recommendations from their experienced Account Manager.

Uncovering Hidden Savings

For community financial institutions, there is no one-size-fits-all approach. Your community and your organization are unique and need a customized solution for every scenario. That’s where our Account Managers thrive. While preparing for a partnership review with a loyal credit union client, one of our Account Managers discovered that our client had begun to lose money on their check program. After thorough research, the Account Manager identified three key pain points that were contributing to the unexpected loss.

Like many other community financial institutions, our client was offering free checks to their members with a Senior Checking account. This program accounted for 50% of their total order volume, incurring a significant expense for the financial institution that was dipping into their potential revenue.
The credit union also offered every new member a full box of checks for free at account opening. “First Order Free” options are a common benefit to accountholders but come at the financial institution’s expense.
Their upcharge on checking products for other standard account types was not enough to cover the volume of items being ordered at the credit union’s expense.

Driving Results with Proven Recommendations for Success

During the partnership review, our Account Manager engaged in meaningful conversation with the client, diving into their goals and challenges. Through a collaborative and open discussion, the Account Manager was able to address the client’s concerns and goals with four simple recommendations for improvement to help reduce the client’s expenses.

Recommendation 1: Place a limit of two boxes per year on free Senior Checks.

Recommendation 2: Adjust the quantity of the “First Order Free” option for new accountholders to a smaller check package. The reasoning behind this recommendation was two-fold as it reduces the upfront cost to the credit union but also encourages a faster reorder time to bring in profitable orders more quickly.

Recommendation 3: Offset expense programs by slightly adjusting the upcharge on other product types with retail pricing that is competitive with similar credit unions in our client’s market.

Recommendation 4: Utilize the Discount Reasons Report from Main Street’s intuitive Order Entry System to monitor waived orders by internal staff. This one-of-a-kind report was created based on client feedback to streamline how clients track expenses, like waived or discounted orders, and identify potential training opportunities for new frontline staff.

Measuring Impact: Account Manager Guidance That Led to Significant Cost-Reduction

After careful review and consultation, the credit union approved the implementation of the recommendations for improvement. Like all good things, results can take time. However, in just six months, our client experienced a remarkable 60% reduction in costs, thanks to four simple but powerful recommendations. These modest changes yielded significant savings to the credit union without disrupting the member experience, underscoring the profound impact that strategic improvements and expert guidance can have on client success. We’re proud to have delivered substantial results, showcasing our commitment to driving tangible success for our clients resulting in trusting relationships.

These relationships are the foundation of our service model with a proven track record of success for our community bank and credit union partners nationwide. Find out what a strategic Account Manager can do for your check program and experience the difference a Main Street partnership can make.

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