After engaging with the credit union and understanding the capacity of the organization and the budgets available, e-CFS came up with a strategy that allowed the credit union take a measured entry into the “new world”. Within strict budget constraints, e-CFS developed a low cost solution that allowed the credit union deliver online services in an economic and manageable manner via the e-CFS 3 Stage Plan. 

Stage 1— Online Forms 

Loan Application form developed to allow loan application details and attachment of documentation. Loan data emailed to credit union with copy of application emailed to member 

Stage 2—Manual Processing 

Loan application manually input to FOCUS system from email application from member. Attached documents are stored as part of the application 

Stage 3— Loan Agreement 

Subject to the loan being approved, the Loan Agreement is emailed to the member for signature and returned to the credit union by post or dropped in to the credit union 

These initial steps have been very successful and the credit union is now submitting plans to improve the services via Internet and Mobile banking services and the introduction of electronic signatures for loan applications.