An account holder posed a great question about the ability to transact live from their PCCU account just like you can with a highstreet bank account.

I think it would be a great idea for members to be able to do transact online through their online PCCU account, just like you can from a bank. I think it would just make sense to be able to take money out put money in and check your accounts all in one place.

The team at PCCU thought it was a good question and something we should explore in a blog. Firstly we want account holders to know the different ways to currently interact with their PCCU account. The limitations with the technology we currently have and what improvements may be on the horizon.

Pennine CEO, Kathryn took the opportunity to discuss the different depositing and withdrawal methods available with the account holder, whilst highlighting the problems that prohibit some progress at the moment

Credit unions are not on the central banking system and cannot operate as banks.  Banks make huge profits, providing the revenue to operate systems which links with the central banking system. However we are looking at systems and developments with current I.T companies that will improve this service for account holders

So how can I deposit money into my account, check my balance, make withdrawals, complete a loan application or ask a question?

 How to put money into your PCCU account

We do ask that account holders speak to staff before setting up any of the depositing methods. A friendly member of staff is available to help via telephone, Nivo or Online Account Area

• Standing order straight from your bank. You are in control and decide on the date and amount you would like deposit. Please include your PCCU membership number as reference so that we know to credit it to your account
• As there are bank charges for card payments we encourage account holders to use standing orders or bank transfer
• We are set-up to take some benefits for savings deposit. Please discuss this with staff before setting up payment
• Cash in branch
• Direct from your wage with local companies who are enrolled on our Payroll Deduction Scheme

The different ways to transact with your PCCU account

 Online Accounts Area

All adult account holders are invited to register for the Online Accounts Area here. Once activated account holders can

• Check live balances on all accounts
• Request withdrawals from PCCU savings to your nominated bank account. However these will be transferred within branch hours. So if you request a withdrawal in the evening after the branch closes, that money will be transferred the next morning. During the day we make transfers a number of times a day, this means you should not wait much longer than 2 hours for a withdrawal to be made
• Good loan calculator to get loan illustrations of quotes
• Loan applications can be started and completed in your own time via the Online Accounts Area
• Ask questions which will be answered by staff during branch hours
• Request statements of accounts

Current limitations of the Online Accounts Area

• Unlike the live balances, your requests are not actioned live or automated – they are completed by staff within branch hours
• The majority of our account holders use mobile phones to interact online (80+%) but some account holders highlight that the Online Accounts Area is not an app or user friendly

Nivo app

PCCU’s instant-messaging app for withdrawals, questions and loan applications. The app allows account holders to talk to PCCU securely, about anything, anytime, from any location. The app looks and feels like WhatsApp but with bank-level security. Click here to download the Nivo app

• Privately ask questions and answer queries regarding your account
• Account holders can see live balances
• Request withdrawals
• Complete loan applications from start to finish with integrated e-signature. Cutting out the need to visit a branch
• Instantly upload payslips, bank statements, and proof of address or change of bank details
• Open Banking, with your permission, allows PCCU a real-time view of your bank account, eliminating the need to provide statement print-outs

Current limitations of the Nivo app

• The PCCU Nivo team answer questions within branch hours, that also means that requests are completed during branch hours
• It takes our team longer to respond to questions on Monday mornings because of the sheer volume of messages from the weekend. We also see a spike in enquiries on Tuesday mornings. However we pride ourselves on responding to account holders ASAP and remind user not to repeat messages after your initial questions – we answer the messages in time order from when they arrive, so new messages are pushed down the list. Patience = quicker answer
• Withdrawal requests are not instant and are transferred in branch hours

Telephone Banking

• A friendly, highly trained member of staff dealing with your enquiry during branch hours
• Check balances on all accounts
• Request withdrawals from PCCU savings to your nominated bank account. Transferred within branch hours. During the day we make transfers a number of times a day, this means you should not wait much longer than 2hours for a withdrawal to be made
• Staff can provide free loan quotations and explain options available

Current limitations of the telephone banking

• Operates within branch opening hours
• Some account details cannot be updated via telephone banking
• High volumes of calls early in the week can make it difficult to get through to a member of staff

Branch transaction

• A friendly, highly trained and familiar face dealing with your enquiry
• Branches located in handy town centre locations in Burnley, Nelson and Colne
• Balance and account enquiries
• Withdrawals, inter-member transfers and ability to update bank details held on your account
• Unlike the other options branches are able to handle small quantities of cash and cheques
• Staff can provide free loan quotations and explain options available
• Staff can provide loan applications assistance
• Staff are available to take copies of original I.D., bank statements, proof of address or other important documents

Current limitations of branch transacting

• Naturally operates within branch opening hours
• Not convenient for all account holders to visit the town centre

As a credit union we are always looking forward. We view new platforms, mobile apps and are regular in communication with our sister credit unions around the country (and world) to see what developments they have introduced to make things easier, safer and quicker for account holders.