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.

1. 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.
2. 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.
3. 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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Personal and business checks are still widely used as a standard method of payment for both consumers and businesses. They are beneficial to utilize for bills and expenses that you might prefer a paper trail for such as rent, utilities, daycare, taxes, payroll, donations, etc. Unfortunately, check fraud has been on the rise, including a nationwide surge in mail-related check theft in 2023. It is important to know how to protect your financial institution and your accountholders from falling victim to this deceptive practice. As one of the nation’s largest check providers, we want to do our part to help you mitigate this risk for your financial institution and your accountholders.

Types of Check Fraud

Check fraud can come in many forms. As a financial institution, you are the best resource your accountholders have for fraud prevention and security, so it’s important to be aware of the various forms of check fraud. Here are some of the most common.

Forgery

In this form of check fraud, a perpetrator alters or falsifies the signature on a check to make it appear legitimate and may also modify the payee’s name, the amount of the check, or the check’s date.

Counterfeit Checks

Criminals produce counterfeit checks by replicating legitimate checks using advanced printing techniques. These counterfeit checks can sometimes deceive both individuals and financial institutions.

Check Kiting

Check kiting involves taking advantage of the time delay between depositing a check and its clearance. Fraudsters open multiple bank accounts and intentionally write checks from one account with insufficient funds, depositing the funds from another account. By exploiting the delay, they can withdraw cash before the financial institution identifies the fraudulent activity.

Check Washing

In check washing, the perpetrator erases or modifies the payee’s name and the amount on a legitimate check using chemicals or solvents. This allows them to reassign the payment to themselves or a designated accomplice.

Check washing schemes are on the rise. In late 2022, the Better Business Bureau issued an alert about an increase in check washing schemes across the country. They issued this video to educate consumers on the growing threat and shared ways that consumers can protect themselves from this popular fraud trend.

Check Fraud Tactics

Criminals are constantly devising new tactics to commit check fraud and at times it may feel like they are always one step ahead. With check fraud on the rise, now is the perfect time to brush up on your knowledge of check fraud tactics to easily identify financial fraud and help educate your accountholders as well. Here are the most common tactics that criminals employ to commit check fraud.

Phishing and Social Engineering

Fraudsters may contact individuals posing as bank representatives, requesting personal information such as account numbers, passwords, and social security numbers. Armed with this information, they can create fraudulent checks or gain unauthorized access to accounts.

Mail Theft

Criminals may steal checks from mailboxes, altering them or using the account information to produce counterfeit checks. In recent years, this form of fraud has been on the rise. In fact, the United States Postal Service (USPS) actually reported almost 300K mail-related fraud or theft complaints from March 2020 to February 2021. Because of this, USPS is now recommending that patrons opt to mail their checks in person from a postal facility rather than leaving checks sitting in their personal mailboxes or depositing them into a blue collection box overnight.

Insider Fraud

Employees with access to checks or sensitive account information can misuse their positions to carry out check fraud.

Identifying Check Fraud

Check fraud continues to be a growing threat to financial institutions and your accountholders. Understanding how check fraud occurs and being able to detect check fraud early can literally mean the difference between stability and bankruptcy for some of your accountholders.

In February 2023, FinCEN and USPS collaborated on a report regarding the uptick in mail theft-related check fraud schemes. Within this report, they shared red flags that financial institutions should be aware of to help recognize and report check fraud.  Some of these include:

• A large withdrawal from a customer account via check that goes to a new payee.
• Customer complaints of stolen checks and then deposited into an unfamiliar account.
• Customer complaints of a mailed check never being received.
• Check stock that is noticeably different than the usual check stock for a frequent check user.
• Check deposits followed by quick withdrawals to a customer account that does not typically deposit checks.
• Suspicious checks appear to have been overwritten with faded handwriting underneath darker handwriting.
• A non-customer trying to cash a large check and offering a suspicious explanation.

Protecting Your Accountholders from Check Fraud

Prevention is the key for financial institutions to help safeguard your accountholders from check fraud.  To help your accountholders prevent check fraud, it’s a great idea to continuously share tips and industry knowledge wherever you can including email, social media, webinars, lunch-and-learns, in your branches, or on your website. Below are some standard best practices for fraud prevention that you can share with your accountholders.

Utilize Secure Mail Delivery

Use secure mailboxes or consider mailing your checks directly through the post office. Whenever possible, use security envelopes that are not transparent and use a trackable delivery method to track your check packages to your local post office or mailbox. You can also sign up for Informed Delivery with USPS so that you’ll know exactly when to expect your checks and other mail to be delivered on a daily basis to avoid checks sitting in your mailbox without your knowledge.

Monitor Bank Accounts

Regularly review your bank statements, account balances, and transactions to detect any unauthorized activity promptly.

Shred Sensitive Documents

Dispose of old checks, bank statements, and financial documents securely by shredding them before discarding.

Be Wary of Phishing Attempts

Never share personal or financial information over the phone or via email unless you have initiated the contact and are certain of the recipient’s identity.

Strengthen Security Measures

Implement strong passwords, enable two-factor authentication, and keep your computer and mobile devices updated with the latest security patches and antivirus software.

Use a Gel Pen

Use a black gel ink pen rather than a ballpoint pen to write a check.  This type of pen allows the ink to seep into the paper making it more difficult for scammers to remove the ink for check washing schemes.

Educate Yourself

Stay informed about the latest fraud schemes and techniques employed by criminals to better protect yourself and your finances.

Order From a Reputable Source

There are plenty of options in the marketplace for ordering checks, but the truth is that not all vendors are created equal. Ordering directly from your bank or credit union is a great first choice to ensure that your checks contain stringent security features and that they are ordered from a reputable check printing vendor that meets industry compliance standards.

Encourage High Security Checks

While most reputable check vendors have stringent security features automatically included on every check, high security checks are also a great option for consumers who are more wary of check fraud or have been a victim of fraud in the past. For example, Main Street’s High Security Checks include a foil hologram that make checks difficult to replicate by scammers.

Have Confidence in Every Check with Main Street, A Secure Check Printer Who Cares

As the nation’s third largest check provider, we understand that check fraud can be costly to both your financial institution and your accountholders. While we know that check fraud is ultimately out of our control, we stand with you in protecting your accountholders and their assets by doing our part to help you mitigate fraud risk. At Main Street, we take security very seriously. That’s why we maintain our SOC 2 Compliance Certification, we produce checks with quality paper and extensive security features such as heat sensitive logos or holograms, and we utilize a First-Class delivery method as standard protocol on all check orders. We also assign a dedicated Account Manager to every single client to conduct routine check-ins that allow us to identify potential issues or threats regarding check program management.

It’s important to remain vigilant against check fraud and educate your accountholders on proactive measures to protect their finances against the deceptive practices of check fraud schemes. By staying informed at your branches, exercising caution, and sharing education with your accountholders, your bank or credit union can minimize the chances of being targeted by check fraud and safeguard the hard-earned money of your organization and the accountholders you serve.

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The American Graphic Design Awards competition is open to creators nationwide across all industries, inhouse departments, firms, agencies, freelancers and more. The awards recognize the best designs of the year in all kinds of categories ranging from print, packaging, p-o-p, internet, video and more. In 2021, more than 11,000 entries were submitted with only the top 10% of submissions being recognized as winners, including Main Street!

Main Street’s creative team won 17 total awards divided between the Main Street and Onovative divisions across 7 design categories. The winners are as follows:

Announcements & Invitations
Allison Mathews
Jon Stutler

Branding & Identity Programs
Allison Mathews
Jon Stutler
Seth Collins

Direct Mail & Direct Response
Allison Mathews
Jon Stutler

Online Design (Web, App, Email, Social Media, Etc.)
Allison Mathews
Jon Stutler

Sales Promotion/Sales Kits
Allison Mathews
Jon Stutler

Signs & Environmental Graphics
Allison Mathews
Jon Stutler
Seth Collins

Special: COVID Communications
Allison Mathews

“Across our Main Street Checks, Onovative and ecommerce divisions, creative design is at the heart of connecting with our bank and credit union customers and the account holders they serve. We are humbled to be recognized by GDUSA with 17 awards, among the nation’s top design teams,” said Samantha Vance, SVP of Marketing at Main Street, Inc. “Being honored with these awards is a rewarding affirmation to our creative team’s efforts in delivering powerful branding and creative for our company and the customers we serve.”

Main Street clients partner with our award-winning design team in a variety of different ways including custom check designs, check marketing materials, and account holder communications. Our design team also supports the creative templates for our subsidiary Marketing Technology division, Onovative, within their Core iQ platform. Additionally, anyone has access to download, modify and use Onovative’s creative social media, postcard and letter designs in the free template library on the Onovative website! Our designers recently added over 75 brand new creative options (including the award winners) that you can review and download using the Template Library links below.

• Social Media Template Library
• Postcard Template Library
• Letter Template Library

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The purchase of Onovative further enhances Main Street’s marketing services solutions. Onovative’s automated marketing platform enables banks and credit unions the ability to segment account holders, communicate effectively based on their current and likely next product, and consolidate multiple marketing functions in one user-friendly platform. By strategically combining marketing automation and a customer relationship management (CRM) system with a communications platform, Onovative gives financial institutions a smarter, more affordable way to connect with account holders in the markets they serve.

Ted Walton, President of Main Street, Inc. said, “Main Street’s previous investments in digital marketing and print will be significantly amplified with the addition of Onovative’s automated marketing platform. Our ability to engage consumers at every point along the consumer cycle will be a powerful tool for financial institutions and any business looking to grow relationships and revenue with their customers.”

The Onovative marketing technology platform strengthens existing marketing solutions built on data, simplicity, and affordability for community banks and credit unions. This acquisition, as well as the investments made over the last six years, is evidence of Main Street’s strategic commitment to serve community financial institutions.

Onovative will continue to operate in Louisville, Kentucky, under its current brand as a subsidiary of Main Street, Inc. Onovative’s founders and management team contributed significant equity to the new subsidiary and will continue to focus on growing Onovative and improving its product offerings. Onovative plans to immediately hire more developers in the Louisville community due to Main Street’s investment.

“I’m incredibly proud of what our small team has accomplished over the years, and I am looking forward to building on that success,” said Michael Browning, CEO of Onovative, LLC. “Our customers have been integral in shaping our products through their feedback. Main Street’s investment and experience will allow us to react to customer feedback more quickly and grow the product faster.”

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BIRMINGHAM, AL – Main Street, Inc. recently entered a partnership with the Community Bankers Association of Ohio Service Corporation (CBAO-SC) in early June. This partnership will provide CBAO members with affordable and effective check printing services and data-driven marketing solutions to engage with current and prospective financial institutions.

CBAO is an informed network of independent community banks in the state of Ohio that has a commitment to exclusively, serve, protect and promote the interests of its members through opportunities of financial and human resources to gain economic and competitive advantages for their members. CBAO and Main Street’s agreement will further the goals and successes of community-oriented financial institutions in Ohio neighborhoods and communities.

Ted Walton, President of Main Street, Inc. said, “This collaborative effort between Main Street and CBAO allows their members to benefit from best in class check printing and marketing services offered to community banks. We are excited for the opportunities to serve and grow CBAO members.”

“Main Street is the industry leader serving community banks exhibiting the core values of our members”, the independence of community banks, said Aza Bittinger Jr., Executive Vice President of CBAO. We are pleased to introduce Main Street as a Preferred Partner for CBAO’s members.

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BIRMINGHAM, Ala. – Main Street, Inc. is excited to announce a strategic partnership with the Community Bankers of Michigan (CBM). CBM recognizes Main Street as Preferred Partner and will deliver community banks throughout the state with check printing services as well as data-driven marketing solutions to attract and retain customers. Through this alliance, the members of the Community Bankers of Michigan can seamlessly implement Main Street’s valued checking programs and turnkey marketing services into their financial institutions.

CBM works continuously to find programs that will bring new sources of revenue, help control costs and improve efficiency for their members. This union allows for Main Street and CBM to continue their missions to deliver programs that improve the goals of community-oriented financial institutions.

Ted Walton, President of Main Street, Inc. said, “This partnership demonstrates our commitment to serving community-based financial institutions, like the members of CBM. We are excited about the opportunity to collaborate more closely with CBM and serving their members with best in class check printing and marketing programs.”

“We are glad to announce our partnership with Main Street. They are a family-owned business committed to high-quality service just like our Michigan community banks,” Michael Tierney, President and CEO of CBM said. He continued, “Main Street offers checking solutions targeted to the unique needs and service requirements of community banks. They work with banks throughout the U.S. with over 2,100 clients. They are best-in-class and we are excited about the capabilities they bring to Michigan banks.”

About Community Bankers of Michigan (CBM)

The Community Bankers of Michigan is a 250-member trade association serving community banks, and their financial services partners, throughout Michigan. With headquarters in East Lansing, Michigan, the Community Bankers of Michigan is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, professional education programs and high-quality products and services. For more information visit www.cbofm.org One Mission. Community Banks.

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Birmingham, AL- September 18, 2019 – Main Street, Inc., a data-driven analytics and print solutions provider, today announced the successful completion of a System & Organization Controls (SOC) examination. This achievement showcases the suitability of the design and operating effectiveness of its controls relevant to security and confidentiality of Main Street’s Printing and Mailing systems utilized to process users’ data and the confidentiality of the information processed by these systems. The controls provide reasonable assurance that Main Street’s service commitments and system requirements were achieved based on the trust services criteria. The engagement was performed by an independent certified public accounting firm, Insyte CPAs, LLC, based on the Standards for Attestation Engagement, as defined by the American Institute of Certified Public Accountants (AICPA).

Ted Walton, President of Main Street, Inc. said, “Information security is top of mind for our business partners as well as the consumers they serve. This SOC achievement is a testament to the priority Main Street places on safeguarding data and the systems that house it. Our commitment to security is constant and we will continue to make investments to ensure the integrity of our systems.”

For additional information, visit mainstreetinc.com.

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The design competition is the premier showcase for outstanding work by in-house designers. It recognizes designer talent and the value they bring to their businesses. In 2019, more than 5,000 entries were submitted, and only the top submissions were recognized as winners.

Main Street’s creative team won 11 awards across 10 design categories. The winners are as follows:

Annual Reports + Corporate Reports

Zac Uselton

Brochures + Collateral

Allison Mathews

Catalogs

Allison Mathews

Direct Mail + Direct Response

Allison Mathews

Jon Stutler

Infographics

Zac Uselton

Internet + Online (Website, App, Banner, Email, Social Media)

Allison Mathews

Letterhead + Stationery

Zac Uselton

Posters

Allison Mathews

Presentations

Zac Uselton

Surface + Fleet Graphics

Allison Mathews

Jon Stutler

Zac Uselton

“We are thrilled to be recognized with 11 awards, among the nation’s top in-house design teams by GDUSA,” said Samantha Vance, VP of Marketing at Main Street. “The awards reflect our creative team’s amazing talent and relentless passion for bringing our customers’ brands to life with each project we’re given the opportunity to play a part in.”

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“Business can be tough and life outside of work can be tougher. Our desire is to make employees’ working life as fulfilling as possible so they have an easier time dealing with the real troubles that can occur away from the office,” said Ted Walton, President of Main Street, Inc. “The Main Street leadership team knows our people are our highest value, not our profits, and this recognition is an indicator we’re on the right path.”

The annual competition is based solely on the anonymous reviews of employees shared voluntarily through an online survey conducted by Quantum Workplace. It scores companies on various factors, from trust in leadership and company policies to teamwork and communication, among several other metrics.

“Each member of our management team has a vested interest in seeing our people grow in this organization whether it be in position or skill set,” said Jennifer Williams, Vice President of Human Resources. “We want every employee to leave Main Street a better person than when they arrived. I believe that spirit and attitude has contributed to being named a best in class employer.”

To view the full list of Top Ten winners in each size category, click here.

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Ted Walton, President of Main Street, Inc. said, “We are excited to have the Check Printers clients join the Main Street family. These customers are a great addition to our national footprint of more than 2,000 financial institutions. And we believe our focus on servicing community-oriented financial institutions with integrity will be great match for these service-minded banks. Our goal is to make this a smooth transition and be the beginning of a wonderful partnership with the Check Printers institutions.”

Pam Smith, Vice President of Sales of R.R. Donnelly added, “We believe that the acquisition of the Check Printers business by Main Street will help our customers deliver innovative check products to their customers.”

About Main Street, Inc.

Main Street partners with over 2,000 community-oriented financial institutions to provide data-driven print and analytics solutions to develop and enhance customer relationships with relevant, affordable checking, analytics, and marketing programs. By helping Discover Your Customer DNA, we will deliver insights needed to achieve your relationship and growth objectives. Our simplified approach equips businesses with the information and tools needed to win in today’s market. Whether you are seeking to acquire, retain, or expand customer relationships, Main Street provides a cost-effective, straightforward partnership to meet your goals.

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