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How Bellco Credit Union Is Achieving End-to-End Loan Modifications In Just 5 Days.

Publication: Credit Union Journal
Publication Date: 27-JUL-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Kevin Jepson, Technology Correspondent

DENVER-Loan modifications are completed in five days when signed electronically at Bellco CU here - perhaps saving 50% of the costs associated with paper-based execution,

Members have taken to electronic signatures for loan modifications since the service was introduced in April - more than three-quarters of all modifications are signed electronically, according to Ryan Klassen, director, lending services, at the $2-billion CU. E-sign is also routine for business loans, with a nearly 90% usage rate, he said.

"Credit unions need to get over their fear of e-signatures and the potential cost...

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