Policy and Procedures – 7 Signs Your Credit Union Has Outgrown MS Word

7 Signs Your Credit Union Has Outgrown MS Word

1. Your policy and procedure content is a mess.  

Over time, this is what happens when using an unstructured approach, allowing everyone to do their own thing. We often hear from credit union professionals, “I’m tired of cleaning up everybody’s mess,” or, “I waste so much time playing hide and seek with my policies and procedures.” Plus, with credit unions operating in multiple branch locations, there’s an added level of chaos. There is a need for a better organization system that everyone can use with ease.  

2. People aren’t using the content.  

It’s unfortunate how many credit unions spend hundreds of hours and commit costly resources to creating content no one can understand or use. Employees end up reinventing the wheel, making their own “cheat sheets.” Picture your front-line associates and tellers using a yellow sticky to remember the ID Checking steps because they can’t find your official procedure in SharePoint.  Does that meet the USA Patriot Act requirements?     

 Instead of enhancing operational efficiency and compliance, the poorly utilized content creates more problems and adds to the workload. 

3. Every document is a new experience.  

This confusion and frustration among employees are common when policies and procedures lack structure and consistency. In such an environment, employees often lose trust in the policies and procedures, doubting their reliability and effectiveness. When using tools like MS Word® for managing these critical documents, standardization becomes nearly impossible. Even if you create a template, the lack of structure allows everyone to do their own thing, leading to a chaotic and inefficient system. 

For credit unions, this disorganization can have serious implications: 

1. Inconsistent Processes 
2. Compliance Risks 
3. Operational Inefficiencies 
4. Employee Dissatisfaction 
5. Board Confusion 

4. You have no systematic version control or change management. 

Keeping track of document versions is a significant challenge. Employees often struggle to trust that they have the most current and accurate information, leading to confusion and mistakes. When outdated policies and procedures are used, the credit union is at risk of operational errors and compliance issues. 

The stakes are even higher when auditors and regulators are involved. If they discover that obsolete versions of documents are in use, they are likely to issue citations and demand immediate remediation. This not only creates additional work for staff but can also result in substantial fines.  

5. No one keeps procedures updated. Formatting and re-formatting are a nightmare.  

Updating procedures is often neglected, and formatting and re-formatting documents can become a nightmare for credit unions. Did you know that with a DIY approach (MS Word), formatting alone takes up 60% of the time?  Is clerical formatting something you want to do or do employees want to spend their time on? Wouldn’t you rather spend your time on ways to serve your members? 

Employees can become frustrated and overwhelmed by the constant need to adjust and reformat documents, leading to inconsistencies and errors. This inefficiency not only hampers productivity but also affects the reliability of the procedures, making it difficult for staff to follow the correct guidelines. 

6. People don’t have the skill or time for procedure writing.  

Effective procedure writing requires a specific set of competencies, including attention to detail, clear and concise writing, and a thorough understanding of the processes being documented. Unfortunately, many employees are not trained in these areas and may struggle to create comprehensive and accurate procedures.  

Creating user-friendly procedures that you can manage with and train from also requires time that most busy professionals don’t have. This means that employees are often forced to rush through this critical task or forget it altogether. This can lead to gaps in the documentation that can create confusion and errors in day-to-day operations.  

For credit unions, where adherence to precise procedures is essential for compliance with regulatory standards, this can be particularly problematic. The risk of non-compliance increases, which can lead to audits, fines, and damage to the credit union's reputation. 

7. Your policy and procedure content is outdated. 

It’s amazing how so many credit unions say they are stuck in the 80s or their policies and procedures are in a binder on a shelf!  While paper documentation has its place, modern credit unions are transitioning to paperless systems, delivering highly engaging online content that employees can access from any device—whether it's a desktop computer, tablet, or phone. This shift not only makes information more accessible but also ensures that procedures are followed consistently and accurately across the organization. 

If your credit union is moving towards this modern approach, converting static MS Word documents into dynamic HTML formats and incorporating videos and multimedia will present challenges. This process is often difficult, time-consuming, and expensive, requiring both technical expertise and resources. However, the benefits of making this transition are substantial. And with the right partner, like the team at Comprose, as painless as possible.

Zavanta Helps Credit Unions with Policies and Procedures 

If you can relate to any of the above, it may be time to consider a different approach. After all, your policies and procedures should be a system to move your organization forward, not get in your way. 

With the right tools, your credit union can transform chaotic processes into streamlined, reliable systems that support your organization's goals and regulatory requirements. 
 
Zavanta software is specifically designed to make end-to-end policy and procedure management seamless. 

• 9 Proven Tips to Improve Policy Management
• 10 Tactical Tips for Writing an Operations Manual
• Difference Between Policy, Procedure, Work Instructions
• What is Structured Content and What are the Benefits?