1st Choice Savings
Empowering Members to Apply Themselves
Challenge
1st Choice Savings and Credit Union felt the time had come to extend more of its services online to members. Specifically, they wanted to make it possible for members to apply for any of their lending products online. With their current system they were challenged on several fronts, from security to slow turnaround, cumbersome forms to double data entry. When they asked us if we could help remove these roadblocks for them, we were happy to oblige.
Solution
As professional problem solvers, we looked at this project from every possible angle. Our goal was to create a flexible, fun and simple way for 1st Choice Savings members to apply for almost any kind of lending product from the comfort of their own homes.
From code to security, design to intuitive functionality, we created an online application that applicants could choose a product, calculate payments and complete in less than 15 minutes. Bearing in mind busy schedules, we made it possible for them to securely save the application at any point in the process and come back to it at their convenience. We also made it intuitive enough to ask applicants only relevant questions, boosting their confidence to take action.
With regard to in-house convenience, our online application did more than eliminate double data entry. It automatically pushes completed applications right into the "inbox" of the designated representative, who can easily follow up with the member. Completed applications are also immediately stored in 1st Choice Savings' lead management system, making it easy and very natural to extend additional products and services to their members.
Results
Even we were a little surprised at how quickly members embraced this application. 1st Choice Savings noticed a quick and dramatic increase in completed applications, leading to new business and very appreciative members.
Not only that, it empowered staff to direct members to an online resource that would reinforce the benefits of engaging their Credit Union in a wide range of lending relationships.
- interactive 4-step process
- secure
- connected to all of your lending products
- a save feature allows members to complete at their convenience
- completed applications pushed into existing CU forms
- completed applications are stored in a lead management system
- the designated representative can access and print application
- eliminates unnecessary information collection
- email notifications save time and paperwork
- lead management system manages current applications
- the designated representative can track and request application updates
- increases application completions
- demonstrates flexibility and progressiveness
- reduces data entry
- increases the number of applications approved
- requires minimal staff training