Imaging Solutions 2018 Contests

For 2018, CU*Answers Imaging Solutions in partnership with My Virtual Strongbox and eDOC Innovations are running three exciting contests. Winners will be announced the first week of October 2018, but you can follow along on this page. Each month, the top 5 contestants will be updated below.

This is a year long marathon, it’s not a sprint!

It’s not too late to get started! You don’t have to sign up for the contests, you only need to use the products.

  1. Contest period for all 3 contests: 10/01/2017 – 09/30/2018
  2. Entry to all 3 contests is automatic if you meet the criteria.
  3. Results will be posted online each month showing the top 5 in the lead for each contest

Here are the 3 Contests

Race to be the First Place eCloser!
The credit union with the most documented electronic loan closings during the contest period wins $10,000.
eSignature Explosion
The credit union with the most documents delivered via eSignature* during the contest period wins $1,000.
My Virtual StrongBox Dash for Cash
The credit union with the most new member registrations (as a percentage) during the contest period wins $1,000.

 


This month, I thought I’d take a second and share some thoughts on timing. Maybe you find yourself asking, “Why does it take two to three weeks to get last month’s contest results posted? We’re almost on to the next month!” Understand, sure seems like we could be more responsive eh? Well here’s some insight.

First, we need eDOC and VSB to compile numbers from their databases to show what activity took place for the month. VSB pretty straightforward simple month over month. eDOC numbers for eSigning, have to move on to Asterisk Intelligence where they query CU*BASE for closed loans for the month. Next, they melt the two results to learn of percentages of closed loans versus eSign loans. Remember that’s just one contest, they also need to get from Accounting the number of members for each CU in the contest, for the eDOCSignature explosion contest for total documents signed per member. That happens after billing which occurs on or about mid-month. With that in hand they can finally run the calculations to provide final results. Based on those I can write my take on them, and off to webservices for posting! Whew! So, some insight on timing in case you were wondering. On to the results!


 

eCloser Contest banner image

Top 5 for Online Vaults as of 6/30/2018

 

 

Rank CUID CU Name Total eClosings Percent of All New Loans
1 80 Auto-Owners Associates Credit Union 252 100.00%
2 288 Academic Federal Credit Union 76 80.85%
3 790 Catholic United Financial Credit Union 158 66.67%
4 255 Toro Credit Union 272 37.74%
5 287 Materion Federal Credit Union 163 36.06%

Download Full List of Contest Standings

Top 5 for In House Vaults as of 6/30/2018

Rank CUID CU Name Total eClosings Percent of All New Loans
1 3820 MUNA FCU 1032 89.74%
2 272 DOLFCU 681 73.07%
3 173 New Horizons Credit Union 381 44.56%
4 236 Bridge CU 489 37.33%
5 112 Frankenmuth Credit Union 3268 37.14%

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

The dust settled this month in our online contest, some modest gains, a percent here or there but no drama like last month. The same thing’s true in our inHouse contest, tiny gains of a quarter percent here or there. “Yawn… right?” WRONG! Look, while for our contest’s sake that could be said, don’t miss the important message here. If you were on a diet and lost half a pound a week you might feel like it was futile and what’s the point, right? Well that’s 21 pounds in a year! Two years?? You get the point. You need to be the tortoise in this race! You just keep adding those quarter percentages and come talk to me in another year! It makes a difference, especially to your members who are benefiting from this service. If even one more member each month had a good experience and tells others what’s that worth? Keep pushing!

CEO’s what are you doing to drive an eClosing culture? Are you learning to earn electronically? Not sure where to begin? Contact John Beauchamp on our Imaging Solutions team so he can help you. 


Prize

Two prizes awarded.

  • $10,000 for credit unions using an online imaging solution
  • $10,000 for credit unions using an inhouse imaging solution.

Eligibility

Must use:

  • eDOCSignature Remote Signature Capture Solution
  • CU*BASE

How we determine the winner

CU*Answers will count the total number of loan note documents* eSigned by your credit union each month. In partnership with Asterisk Intelligence, we then calculate the percentage of eSigned documents versus booked loans for the month. Then, we average all of the months to arrive at your final average for all 12 contest months. The credit union with the highest average is the winner. In the event of a tie, we will conduct a random drawing between the tied credit unions.

Official Contest Rules & Information

Don’t have eDOCSignature Remote Signature Capture? Order it Online

   

Sign up for eDOCSignature Remote Signature Capture Conversion Today!


Order eDOCSignature Remote Signature Capture Conversion

* If you wish to see which forms we are including as loan note documents for your credit union, email: imaging@cuanswers.com and we will provide you the list for your CU. We can make adjustments if there are errors or omissions. If you add new loan notes be sure to notify us to have them included in the results.


eSignature Explosion - contest banner image

Top 5 for Online Vaults as of 6/30/2018

Rank CUID CU Name Total Documents Documents per 1,000 Members
1 3821 Alabama Law Enforcement Credit Union 1885 117.23
2 213 Element Federal Credit Union 2225 56.00
3 287 Materion Federal Credit Union 996 55.92
4 3922 South Bay Credit Union 2781 41.57
5 640 Grand Trunk BC EFCU 621 21.71

Download Full List of Contest Standings

Top 5 for In House Vaults as of 6/30/2018

Rank CUID CU Name Total Documents Documents per 1,000 Members
1 3820 MUNA FCU 3686 69.00
2 112 Frankenmuth Credit Union 26456 66.40
3 173 New Horizons Credit Union 2732 59.92
4 272 DOLFCU 3442 53.47
5 3807 Jefferson Credit Union 2966 43.12

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

This contest’s results speak to how much the competing credit unions are using eSignature in general to get business done remotely with their membership. This counts all documents not just loans, but membership forms etc. Our online contest has Element up almost 7 documents per 1000 members this month!!! They were up 5 last month wow! Not sure they can take first place with Alabama Law Enforcement at more than double, but they moved into 2nd place and at the current pace will hang on to it if they keep the pressure on. Noteworthy though, they are in 2nd by just a sliver and Materion FCU could make it rough for them.

Think about that paper how can you interact with your members electronically? If you’re not using our Enhanced Online vault may be time to consider it. Start sending that fillable PDF for eSign. Great time to get using Virtual Signing Rooms in online banking and eDOCSignature packages as a part of our 18.06 release! You should be questioning each piece of paper going to members and ask how you can make it more convenient.

InHouse crew, big news here is our 1st / 2nd place race! Frankenmuth once again closing the gap! They went up 1.2 documents per 1000 members and MUNA again dropped back 2.47 documents per 1000 as compared to last month. So here we are with a sprint to the finish of 69.00 vs 66.40 documents per 1000 members, keeping an eye on this one! Keep pushing all you’re doing great!


Prize

Two prizes awarded.

  • $1,000 for credit unions using an online imaging solution
  • $1,000 for credit unions using an inhouse imaging solution.

Eligibility

Must use:

  • eDOCSignature Remote Signature Capture Solution
  • CU*BASE

How we determine the winner

CU*Answers will count the total number of documents eSigned by your credit union each month. We then calculate the percentage of eSigned documents per member* based on the membership size of your credit union for the month. We then average all of the months to arrive at your final average for all 12 contest months. The credit union with the highest average is the winner. In the event of a tie, we will conduct a random drawing between the tied credit unions.

* Number of members as determined by CU*Answers accounting for billing purposes.

Official Contest Rules & Information

Don’t have eDOCSignature Remote Signature Capture? Order it Online

   

Sign up for eDOCSignature Remote Signature Capture Conversion Today!


Order eDOCSignature Remote Signature Capture Conversion


My Virtual StrongBox Dash for Cash banner

Top 5 as of 6/30/2018

Rank CUID CU Name Product Penetration Net Change
Starting(9/30) Current
1 164 1st Street Credit Union 1.98% 4.10% 2.12%
2 200 Honor CU 0.43% 2.19% 1.76%
3 153 First United CU 3.39% 4.89% 1.50%
4 142 Sioux Empire Federal CU 1.44% 2.78% 1.34%
5 117 Madison Credit Union 0.27% 1.58% 1.31%

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

Whoa! and out of nowhere comes 1st Street Credit Union to steal the lead!!! They’ve been closing the gap for the last couple months in a big way and it paid off. It’s obvious they got a program in place here. Up 2.12% in one month, that’s outrageous! Keep pushing everyone just two short months left in the contest though the focus should be on the members winning for months to come through these cool internet retailing services! Engage your staff to speak to members, make sure your staff feels comfortable talking about this solution. Lots of videos in OnDemand use them for members and staff! Good luck! Can’t wait to see what happens next month.


Prize

$1,000

Eligibility

  • Must use My Virtual StrongBox

How we determine the winner

CU*Answers will tally the number of new member registrations as a percentage during the contest period. The credit union with the most new registrations is the winner. This is calculated as a percentage of your total membership – (# of My Virtual StrongBox Users)/# of members= X%. The credit union with the greatest percent change is the winner! In the event of a tie, we will conduct a random drawing between the tied credit unions.

Official Contest Rules & Information

Learn more about My Virtual StrongBox

Don’t have My Virtual StrongBox? Turn it on for Free

   

Sign up for My Virtual StrongBox Today!


Order My Virtual StrongBox


Have Questions?

For questions about the solutions available to you or any other aspect of your Imaging Strategy, contact: John Beauchamp
Vice President of Imaging Solutions
800.327.3478 or 616-285-5711 x228
jbeauchamp@cuanswers.com
Updated
July 18, 2018

Check Out the Current Results for the Ongoing Imaging Solutions Contests!

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For 2018, CU*Answers Imaging Solutions – in partnership with My Virtual Strongbox and eDOC Innovations – are running three exciting contests!  Winners will be announced in October 2018, but you can check out the current results by visiting the Imaging Solutions page of the CU*Answers website.  Or, click on the banner images below to check… Read more »

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Jul 12, 2018

CU*Answers Imaging Solutions contests going strong to the finish

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Jul 5, 2018

Check Out the Current Results for the Ongoing Imaging Solutions Contests!

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The 18.06 Imaging Solutions Release is Coming Soon!

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May 30, 2018

Check Out the Current Results for the Ongoing Imaging Solutions Contests!

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For 2018, CU*Answers Imaging Solutions – in partnership with My Virtual Strongbox and eDOC Innovations – are running three exciting contests!  Winners will be announced in October 2018, but you can check out the current results by visiting the Imaging Solutions page of the CU*Answers website.  Or, click on the banner images below to check… Read more »

May 22, 2018

Check Out the Current Results for the Ongoing Imaging Solutions Contests!

Check Out the Current Results for the Ongoing Imaging Solutions Contests!

For 2018, CU*Answers Imaging Solutions – in partnership with My Virtual Strongbox and eDOC Innovations – are running three exciting contests!  Winners will be announced in October 2018, but you can check out the current results by visiting the Imaging Solutions page of the CU*Answers website.  Or, click on the banner images below to check… Read more »

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