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 4/30/2018

 

 

Rank CUID CU Name Total eClosings Percent of All New Loans
1 80 Auto-Owners Associates Credit Union 194 100.00%
2 288 Academic Federal Credit Union 56 83.58%
3 790 Catholic United Financial Credit Union 104 59.77%
4 255 Toro Credit Union 232 37.42%
5 287 Materion Federal Credit Union 114 33.83%

Download Full List of Contest Standings

Top 5 for In House Vaults as of 4/30/2018

Rank CUID CU Name Total eClosings Percent of All New Loans
1 3820 MUNA FCU 844 89.03%
2 272 DOLFCU 556 72.58%
3 173 New Horizons Credit Union 285 43.58%
4 3807 Jefferson Credit Union 264 36.87%
5 3807 Frankenmuth Credit Union 2414 36.62%

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

About 31,786 loans this month across both contests, for a total of $554M in loans! eSigning accounted for half of those 14,342. If we split the dollars in half that’s about $275 Million dollars of loans! WOW! Now I understand that perhaps we closed mostly consumer loans vs. mortgages which were done on paper etc. etc., but the take away here is that a heck of a lot of business is being accomplished through remote signing by credit unions with a great Internet Retailer game!!

In our online contest – the Top 10 – no one less than 20% of loans closed electronically. That’s pretty good. Keep pushing! Academic cranking out 83.58% of loans via eSign! Catholic United at 59.77%. Good job!

As for the inHouse crew…DOLFCU up 2%! Good work. MUNA cresting the 89% mark. The top 10 here – no one under 24% of loans closed via eSign. Way to go!

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 4/30/2018

Rank CUID CU Name Total Documents Documents per 1,000 Members
1 3821 Alabama Law Enforcement Credit Union 1484 119.48
2 287 Materion Federal Credit Union 701 50.71
3 213 Element Federal Credit Union 1365 44.30
4 3922 South Bay Credit Union 1827 35.31
5 3837 Louisiana Central Credit Union 536 21.99

Download Full List of Contest Standings

Top 5 for In House Vaults as of 4/30/2018

Rank CUID CU Name Total Documents Documents per 1,000 Members
1 3820 MUNA FCU 3073 74.33
2 112 Frankenmuth Credit Union 19527 63.50
3 173 New Horizons Credit Union 2055 57.86
4 272 DOLFCU 2766 55.12
5 3807 Jefferson Credit Union 2263 42.42

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 Alabama Law Enforcement CU up 7 more documents per 1000 members this month, nice gain to ensure the lead! Materion FCU up 1 per 1000, Element up 3. We’re past the half way mark keep going!

Think about that paper how can you interact with your members electronically? Maybe pretend the postage meter is broken to spur the team along? Ha! Seriously though, time to question 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 again closing the gap! Within 10 documents per 1000 members of MUNA! 74.33 vs. 63.50 as compared to last month of 79.44 vs. 61.52 respectively. While I’m at the Indy 500 next weekend I’ll be thinking about this race! Well probably not, but this is exciting and I’m watching it! The rest of the field saw many gains in the last few months. Keep pushing!


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 4/30/2018

Rank CUID CU Name Product Penetration Net Change
Starting(9/30) Current
1 153 First United CU 3.39% 4.72% 1.33%
2 200 Honor CU 0.43% 1.62% 1.20%
3 117 Madison Credit Union 0.27% 1.41% 1.14%
4 164 1st Street Credit Union 1.98% 2.62% 0.63%
5 125 Compass Credit Union 0.61% 1.20% 0.58%

Download Full List of Contest Standings

John’s Take On The Standings

john beauchamp

Its official, Honor has taken 2nd place! First United is cranking it out! When asked how they are doing it they said that they are sharing the contest results with the team and educating them how to talk to members about the product. Of course, they are making an effort to stop the paper at the teller line. That all said, I could summarize it as that they’re engaged and executing on becoming Internet Retailers through a conscious effort!  So First United you are on notice!!! Good stuff.


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
May 18, 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 »

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 »

Apr 20, 2018

A Release Management Roundtable is Coming Your Way!

A Release Management Roundtable is Coming Your Way!

ATTENTION IMAGING SOLUTIONS RELEASE MANAGEMENT SUBSCRIBERS Join us for a Release Management Roundtable! The CU*Answers Imaging Solutions team will be hosting an informal roundtable webinar, specifically for subscribers of our Imaging Solutions Release Management service. Network with your peers and discuss hot topics relating to Release Management, as well as other facets of what the… Read more »

Apr 11, 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 »

Mar 21, 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 »

Feb 20, 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 »

Jan 23, 2018

A Note From CU*Answers Imaging Solutions: Discontinuation of Lutzwolf TCD/TCR Middleware

A Note From CU*Answers Imaging Solutions: Discontinuation of Lutzwolf TCD/TCR Middleware

What Are We Doing? CU*Answers is announcing the end of the sale of the Lutzwolf  TCD/TCR middleware.  We are discontinuing sales and future development efforts for the socket based version of the Lutzwolf TCD/TCR middleware currently in use effective immediately.  Glory, the author of the middleware, has discontinued any future development of the product (Socket Based Version),… Read more »

Dec 21, 2017

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 »

Dec 18, 2017

Turn to the CU*Answers Imaging Solutions Team for your eSignature needs

Turn to the CU*Answers Imaging Solutions Team for your eSignature needs

With eSignature from Imaging Solutions, members can sign documents wherever they are!  You can send them a document to sign by simply inputting their name and email address.  They will receive an email with a link that allows them to electronically sign their documents, wherever their smart devices take them! To learn more about eSignature,… Read more »

Oct 13, 2017