McGraw-Hill Federal Credit Union Turns a Page in Financial Services with DocuSign eSignature Services
DocuSign to Streamline Loan Funding Process for World Class Financial Services Provider
DocuSign®, provider of the most trusted SaaS-based electronic signature platform, today announced McGraw-Hill Federal Credit Union has selected DocuSign to securely expedite the consumer lending process online. By using DocuSign to automate the loan signing process, McGraw-Hill increases member satisfaction, streamlines workflows and reduces the time to fund member loans.
"We looked at e-signing to increase efficiencies throughout our four branches and to improve loan processes to enhance member convenience. We quickly realized that the DocuSign service would easily fit into our workflows since it is as easy as sending an email," said Michael Sullivan, executive vice president and chief operating officer of McGraw-Hill Federal Credit Union. "After examining DocuSign's functionality, reliability, security and the caliber of its clientele, the decision was easy. We're confident that DocuSign is the best fit to streamline and accelerate our loan signing process."
DocuSign offers McGraw-Hill members anywhere, anytime convenience to safely and securely sign consumer loan documents online. Using a laptop or mobile device, McGraw-Hill members can electronically sign and return loan documents in minutes, thereby significantly reducing the time, environmental impact and cost of traditional paper-based loan processing. The DocuSign service provides McGraw-Hill additional value and will complement the high quality of service its members have come to expect.
Credit unions across the country are quickly adopting the DocuSign eSignature service to streamline the loan signing process and to ensure compliance with Regulation Z or more commonly known as Truth in Lending. This regulation, taking effect July 2010 for credit unions, requires lenders to fully disclose in writing the terms and conditions, including annual percentage rate and other charges for closed-end loans. Financial leaders such as BECU, Alliant, Idaho Central, TTCU, Bellco, University of Illinois and hundreds of other credit unions are migrating to DocuSign, the most trusted eSignature platform available. DocuSign is proven to increase productivity, reduce costs, enhance member satisfaction and improve business processes. For more information on how the DocuSign eSignature service can positively impact credit unions, visit: http://www.docusign.com/credit-unions.
"We are pleased to be partnering with this outstanding financial institution," said Steve King, president and CEO of DocuSign. "We look forward to continuing our work with McGraw-Hill to reduce costs and accelerate the loan signing process, while continuing to provide superior member satisfaction."
McGraw-Hill Federal Credit Union
Chartered in 1935, McGraw-Hill Federal Credit Union originally served employees of the McGraw-Hill Companies in New York City. Since then, the credit union has opened membership to outside companies and now has over 100 businesses and organizations in its field of membership. McGraw-Hill Federal Credit Union has assets exceeding $230 million and currently serves the financial needs of over 16,000 members throughout the world. For more information or to learn about membership benefits, visit www.mcgrawhillfcu.org.
About DocuSign, Inc.
DocuSign, Inc. is the leading provider of on-demand software services for electronic signature. DocuSign empowers individuals, small businesses and global enterprises to operate faster and more efficiently, with greater profitability, enhanced security and compliance. DocuSign is the only Web-based service to securely automate and control the entire electronic document signing process. DocuSign employs the SaaS eSign industry's only enterprise class SAS-70, fully redundant data center delivering 99.993% uptime for customers over the last 32 months. To date, more than 79 million signature events have been executed using DocuSign. In addition, DocuSign is the official and exclusive provider of e-signature services for the National Association of REALTORS® 1.1 million members, under the REALTOR Benefits® Program.
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