6 Tips for Seamless and Secure Board Communication for Credit Unions
For credit unions, facilitating clear communication and document sharing between the executive team and board of directors is critical for staying aligned on the organization’s vision and fulfilling its commitment to members. But many still rely on emails – something that poses significant security risks.
That’s why forward-thinking credit unions are turning to secure document management systems (DMS) like SmartVault. A DMS provides a centralized, cloud-based repository for storing and sharing sensitive documents while ensuring robust security and access controls.
- Benefit #1: Bank-Grade Security
With a DMS like SmartVault, you can rest assured that your board’s confidential materials are protected by bank-level security measures. This includes encryption of data at rest and in transit, granular access permissions, multi-factor authentication, automatic backup, and more. These advanced security protocols safeguard your information from breaches and data loss.
- Benefit #2: Secure File Sharing & Collaboration
Rather than emailing versions of documents back and forth (which creates security vulnerabilities), a DMS allows authorized users to securely access, edit, share, and collaborate on the latest files in one centralized location. You maintain complete control over who can view and edit which documents.
As the executive administrator at Frontwave Credit Union shared “Sharing files via email poses a significant risk. I appreciate how SmartVault enables us to be more secure by giving us one place to upload documents.”
- Benefit #3: Anytime, Anywhere Access
With a cloud-based DMS, your board members can access authorized files and materials 24/7 from any internet-connected device. This ensures they always have access to the latest documents and information they need to perform their duties, whether working remotely or traveling for business.
- Benefit #4: Automated Audit Trails
A DMS automatically tracks all activity within the system, including who accessed what files and when. This creates a clear audit trail that eliminates any guesswork about version control or document history. You’ll have a recorded chain of custody for every file.
- Benefit #5: Effortless Version Control
There’s no more wondering if you’re working on the latest document version. A DMS ensures there is only a single master file that all users collaborate on. You can even view previous versions if needed. This minimizes confusion and errors from dueling document versions.
- Benefit #6: Integration with eSignature
SmartVault has eSignature capabilities that allows you to seamlessly and securely route documents for signature approval by board members and authorized parties. The signed documents are then automatically stored back in the correct folder for easy access and automated organization.
How FrontWave Credit Union Uses SmartVault
By leveraging SmartVault, the executive administrator at Frontwave Credit Union efficiently manages the flow of information between the executive team and board:
“I really enjoy using the system because it’s user-friendly, and it’s easy to navigate and find the documents we need. I can easily add/delete folders and vaults and view/restrict access to exactly what’s needed. I can do all that myself without requesting help from IT.“
The ability to securely share files, track document history, maintain version control, and facilitate eSignatures helps keep the executive team and board aligned – allowing the credit union to provide exceptional service and consistently meet members’ needs.
Strengthen Board Governance with a Trusted DMS
Whether you need to distribute board materials, securely route documents for approvals and signatures, or create a documented audit trail, SmartVault’s modern document management system is an invaluable solution for facilitating secure communications and collaboration with your board of directors.
SmartVault’s intuitive DMS empowers credit unions to safely share and control access to sensitive files while benefiting from best-in-class security protocols. This transparency, security, and efficiency at the board level translates into better governance and oversight for serving your members’ financial needs.
Schedule a personalized demo today to see why over 3 million users trust SmartVault for secure document management.
