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 Web Services 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 8/31/2018

 

 

Rank CUID CU Name Total eClosings Percent of All New Loans
1 80 Auto-Owners Associates Credit Union 320 100.00%
2 288 Academic Federal Credit Union 99 83.19%
3 790 Catholic United Financial Credit Union 226 71.97%
4 287 Materion Federal Credit Union 213 37.37%
5 255 Toro Credit Union 337 34.89%

Download Full List of Contest Standings

Top 5 for In House Vaults as of 8/31/2018

Rank CUID CU Name Total eClosings Percent of All New Loans
1 3820 MUNA FCU 1234 89.94%
2 272 DOLFCU 816 74.66%
3 173 New Horizons Credit Union 484 45.96%
4 236 Bridge CU 615 40.57%
5 112 Frankenmuth Credit Union 4084 37.03%

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

Check out Academic in our Online contest, up almost 3% and Catholic United Financial CU jumping up almost 2%! That makes nearly 5% in two months for them. Go teams! Very nice push to the finish. Once again, continuous improvement this is a marathon not a sprint. Which again is the story with our inHouse contest. Top of the field making gains of a fraction of a percent. BUT it’s improvement. To repeat from last month’s comments…That’s the ticket for success. If you can’t squeeze out the big gains, work for the constant improvement. Slow and steady wins the race!

If you’re at the bottom of the field, you should be pushing for the low hanging fruit. A jump of 5% should be within reach with a solid effort.

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 8/31/2018

Rank CUID CU Name Total Documents Documents per 1,000 Members
1 3821 Alabama Law Enforcement Credit Union 2298 115.98
2 213 Element Federal Credit Union 2995 61.54
3 287 Materion Federal Credit Union 1266 58.03
4 3922 South Bay Credit Union 3643 44.31
5 640 Grand Trunk BC EFCU 825 23.62

Download Full List of Contest Standings

Top 5 for In House Vaults as of 8/31/2018

Rank CUID CU Name Total Documents Documents per 1,000 Members
1 112 Frankenmuth Credit Union 32918 67.03
2 3820 MUNA FCU 4359 66.44
3 173 New Horizons Credit Union 3454 62.00
4 272 DOLFCU 4150 52.86
5 3807 Jefferson Credit Union 3603 42.90

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

OH! The big news here is Frankenmuth takes the lead with only ONE MONTH LEFT!!! What an exciting finish! Will MUNA up their game and steal it back??? I’m on needles and pins!! MUNA has been slowly losing ground to Frankenmuth over the past few months. Last month MUNA at 67.27 documents per 1000 members, Frankenmuth 65.92 per 1000 THIS month MUNA at 66.44 documents per 1000 members and Frankenmuth 67.03 for the lead! Online results not nearly as dramatic, pretty much unchanged from last month with Alabama Law Enforcement in the lead comfortably, though the field behind them made gains this month making them better internet retailers which is a win all its own.

Remember 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. Keep pushing to build that internet retailer culture!

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! You should be questioning each piece of paper going to members and ask how you can make it more convenient.


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 7/31/2018

Rank CUID CU Name Product Penetration Net Change
Starting(9/30) Current
1 164 1st Street Credit Union 1.98% 5.26% 3.27%
2 200 Honor CU 0.43% 2.83% 2.40%
3 153 First United CU 3.39% 5.08% 1.69%
4 142 Sioux Empire Federal CU 1.44% 2.93% 1.48%
5 117 Madison Credit Union 0.27% 1.60% 1.33%

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

1st Street Credit Union still in the lead!!! Expanding their lead modestly but nonetheless putting some distance between them and Honor who’s in hot pursuit! Keep pushing everyone just one short month 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 with the big finish in sight!


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
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