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Paper Slowed Them Down

Food Industries Credit Union had just rebranded as Gateway Credit Union, and they had work to do. Their loan application process involved mailing out loan applications, waiting on them to return, correcting errors, and finally signing on the dotted line. Each step required too much time and unnecessary repetition. If the newly branded Gateway Credit Union was going to make good on its mission to expand to new members beyond the food industry, they would need a loan application process that was faster, more cost effective, and just plain better.

Gateway decided that online signatures could bring the efficiency and convenience they needed. After thorough research and a great deal of communication between management and the board of directors, GCU decided that SIGNiX was the only solution that made sense.

Switched to Digital Signatures

With SIGNiX, Gateway would be able to seamlessly add digital signatures into their new website, allowing credit union members to click and sign without being redirected to—and potentially confused by—a third-party provider. Management also believed that offering a convenient, secure online signature to new members would build trust in the new Gateway Credit Union brand.

GCU staff was able to learn the new online signing process quickly. Loan officers watched SIGNiX webinars and searched the Knowledge Base to find answers to questions. Gateway was able to use existing forms and documents, making the transition to paperless workflows as simple as possible. If anyone ever found themselves confused or stuck, SIGNiX support was always a phone call away.

Witnessed Clear Results

Integrating SIGNiX digital signatures reduced GCU’s average loan processing time from a week to a day. Some applications even completed the same day they started, something that was virtually impossible before going paperless. Finally, Gateway could perform their work with the peace of mind that legal evidence of every signature event was embedded directly into every signed document, and always available without reliance on a third-party.

“SIGNiX is huge from a risk standpoint,” said Marcos Sulistio, Gateway Credit Union CEO. “I know if there’s ever a question about a document, both Gateway and our members have immediate access to proof of every signature.”

In the few months since integrating SIGNiX digital signatures with their website, Gateway saw its loan completion rate increase from 11 loans per month to almost 15, while also helping GCU offer service beyond the food industry and to a broader range of Oregonians.

Sulistio is happy with progress so far and excited about the future. “As long as we continue to respond to potential members in a timely manner, and the tools keep working, it’s going to be a limitless situation for Gateway and our members.”