DocuSign deals with Cuna Mutual for e-signatures

Source: DocuSign

DocuSign, the global standard for eSignature, and the CUNA Mutual Group, the leading provider of financial services to credit unions, today announced a partnership to provide credit unions with easy, fast, and secure electronic signature solutions to speed the lending process and provide options in the wake of recent regulations on Multi-Featured Open-End Lending.

"We've partnered with DocuSign because the ease of use, speed and convenience of the eSignature solution will help credit unions meet their members' needs in electronic channels," said Dan Murray, vice president, CUNA Mutual Group. "It provides exceptional member convenience without sacrificing compliance, something that is especially important to credit unions looking to add closed-end lending to their current lending program on the heels of the recent NCUA letters."

DocuSign's partnership with CUNA Mutual Group will help credit unions:

Earn interest faster - DocuSign helps credit unions get loan documents completed faster to earn interest sooner
Eliminate "Not In Good Order" - DocuSign's guided, error-proof signing means complete documents every time
Meet compliance requirements - DocuSign helps credit unions control the signing process to ensure all data remains secure and every transaction includes a complete audit trail
Delight members - Members can open accounts and apply for loans in minutes anywhere, anytime, on any device without a trip to the credit union

The agreement between CUNA Mutual and DocuSign comes shortly after the National Credit Union Administration (NCUA) issued its guidance letters on Multi-Featured Open-End Lending (MFOEL) and Multi-Featured Lending. The NCUA clarified that open-end and closed-end lending are two distinct regimens and each require their own application, timing requirements and disclosures for the member-borrower. DocuSign is uniquely positioned to help credit unions ensure compliance for both types of lending while maintaining the same type of member convenience associated with a MFOEL program.

"CUNA Mutual has served as a trusted business partner to credit unions for more than 75 years," said Keith Krach, chairman and CEO of DocuSign. "With our partnership, CUNA Mutual Group is bringing the global standard for eSignature to credit unions across the country so their members can quickly, easily and secuand securely DocuSign anything, anytime, anywhere—from new member applications and loan documents, to account beneficiary forms and more."

Many credit unions are already using CUNA Mutual Group and DocuSign products to effectively address lending compliance. Alliant Credit Union of Chicago, the seventh largest credit union in the nation with more than 280,000 members and assets exceeding $7 billion, uses DocuSign for loan processing and compliance: "The cost savings, speed and convenience of DocuSign have made a significant, positive impact on our business," said Ericka Gorman, project manager at Alliant Credit Union. "DocuSign has paid for itself multiple times over. DocuSign makes it easy to accelerate our business and delight our customers."

DocuSign and CUNA Mutual Group will host a series of educational webinars designed to offer credit unions insights, best practices and practical methods to comply with the new NCUA regulations.

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