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TMCNet:  Credit Unions Standardize on DocuSign for Electronic Signature

[September 26, 2011]

Credit Unions Standardize on DocuSign for Electronic Signature

SAN FRANCISCO --(Business Wire)--

DocuSign announced today that more than 200 of the nation's largest credit unions have standardized on DocuSign for their electronic signature solution, streamlining account openings, consumer loan processing and internal approvals. Credit unions using DocuSign to accelerate revenue, reduce cost, and enhance member satisfaction include 66 Federal, Advantage Plus Federal, Alliant, All Valley Federal, America First, Bellco, Darden Employees Federal, Eastman, Eli Lilly, El Paso Employees Federal, Idaho Central, McGraw-Hill Federal, Tulsa Teacher's, University Federal, University of Illinois Employees, and more than 200 others.

"With our track record in helping credit unions better serve their members with lower cost processes that accelerate speed to revenue, DocuSign has become the de facto industry standard for electronic signature," said Keith Krach, chairman and CEO of DocuSign. "DocuSign is committed to ensuring credit unions are able to finish business faster with the easiest, fastest, most secure way to get a signature."

"The cost savings, speed and convenience of DocuSign have already made a significant, positive impact on our business," said Ericka Gorman of Alliant Credit Union. "DocuSign has paid for itself multiple times over."

DocuSign's electronic signature solution helps credit unions:

  • Accelerate speed to revenue - With transaction cycle times cut from weeks to minutes, close rates increased by 80% or more, and 'Not In Good Order' documents eliminated, DocuSign helps credit unions earn revenue sooner.
  • Lower cost - DocuSign saves credit unions time and money by reducing printing, faxing, and overnighting costs, eliminating the rekeying of member data, and increasing compliance.
  • Enhance member satisfaction - DocuSign increases member convenience with anytime, anywhere signing so members can open new accounts and loans in minutes online.

"The speed of the electronic signature and loan process really impresses our members," said Rebecca Delich, Chief Loan Officer at Illinois State Police Federal Credit Union. "Everyone would rather sign electronically."

DocuSign is Safe, Reliable and Secure, Ensuring Legally Binding eSignatures for Credit Unions

Credit unions have come to rely on DocuSign because the company's eSignature technology is safe, reliable and secure. DocuSign provides the most robust member identity management and authentication solutions available to ensure legally binding signatures every time. In addition, DocuSign offers fully redundant SAS70 Type II tested data centers, network, policies, and procedures that have passed 100 percent of security audits with the world's largest financial services institutions. And, DocuSign offers anenterprise-class global network with a track record of 99.99 percent system uptime; ensuring members continue to enjoy the high level of service they've come to expect from credit unions.


Credit unions interested in learning more about DocuSign's electronic signature solution can visit DocuSign at the Credit Union National Association (CUNA) Operations Sales and Service Council in San Antonio, TX, September 25-28, 2011; the CUNA Lending Council Conference in New Orleans, LA, November 6-9, 2011; or by visiting www.docusign.com.

About DocuSign Inc.

DocuSign® is the global standard for eSignature. DocuSign helps customers decrease transaction times, reduce costs, and enhance customer satisfaction with the easiest, fastest, most secure global network for sending, signing, tracking, and storing documents in the cloud. For more information, visit www.docusign.com or call 0800 098 8113. Visit the DocuSign blog at www.docusign.com/blog and follow DocuSign on Twitter, LinkedIn and Facebook.

Quote Sheet

DocuSign - Keith Krach, Chairman & CEO

"With our track record in helping credit unions better serve their members with lower cost processes that accelerate speed to revenue, DocuSign has become the de facto industry standard for electronic signature. DocuSign is committed to ensuring our credit union customers are able to finish business faster with the easiest, fastest, most secure way to get a signature."

DocuSign Helps Credit Unions Accelerate Revenue

"Before, if you were missing a signature, you had to send it back. That's the joy of DocuSign. The member signs and initials it exactly where they have to and it's not finished until they do...I think if financial institutions are not doing something like this, they're going to lose business."

- Tulsa Teachers Credit Union - Cassie Mangold, Director of Consumer Lending

"Before DocuSign, if we were missing a signature, we had to send the documents back to the member and start the process all over again. With DocuSign, our members simply complete the loan documents online-when and where it's convenient. We're always assured that every member signs and initials exactly where they're supposed to-you never get a loan document back with a missing signature or initial. Plus, we don't need to physically store paper documents anymore. Now everything is electronic and available immediately."

- El Paso Employees Federal Credit Union - Larry Moreno, Vice President of Lending

DocuSign Helps Credit Unions Reduce Cost

"The cost savings, speed and convenience of DocuSign have already made a significant, positive impact on our business. DocuSign has paid for itself multiple times over."

- Alliant Credit Union - Ericka Gorman

"The return on investment is dramatic. Bellco has reduced annual costs by fifty percent for tasks now managed through DocuSign. It really pays to have the DocuSign solution in place."

- Bellco Credit Union - Ryan Klassen, Director of Lending Services

"Getting the loan on the books, based on your average loan size, just a day earlier pays for the DocuSign service."

- Tulsa Teachers Credit Union - Cassie Mangold, Director of Consumer Lending

DocuSign Helps Credit Unions Increase Member Satisfaction

"The speed of the electronic signature and loan process really impresses our members. Everyone would rather sign electronically."

- Illinois State Police Federal Credit Union - Rebecca Delich, Chief Loan Officer

"... [A member] was stationed in Iraq and was able to sign the loan documents online ...with DocuSign, we were able to complete the loan transaction in hours and serve a very valuable member halfway around the world."

- El Paso Employees Federal Credit Union - Larry Moreno, Vice President of Lending

"DocuSign is the engine for our loan-by-phone center. DocuSign makes it possible for our loan staff to complete the loan signing process quickly...We can do everything faster and more securely electronically. DocuSign sets us apart from other financial institutions."

- Tulsa Teachers Credit Union - Cassie Mangold, Director of Consumer Lending


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