CPM Federal Credit Union Doubles Funding Ratio with eSignatures from IMM

eSignatures credited with reducing loan turn times, increasing loan
volume

RAHWAY, N.J.–(BUSINESS WIRE)–Since implementing IMM’s eSignature platform, CPM Federal Credit Union
has experienced significant loan volume growth, doubling its funding
ratio from 15 percent to 32 percent.

“Our document preparation time has dropped from 30 minutes to five
minutes,” said Jessica Flanders, project manager at CPM Federal Credit
Union. “With the level of automation we now receive from IMM, employees
are more productive and no longer responsible for manual tasks such as
adding fields that need a member signature. We can quickly prepare and
send documents electronically to members and receive their signed
documents back as soon as they are complete. No snail mail, and no need
for busy members to find time to come into the branch to drop off their
signed documents.”

CPM Federal Credit Union, a $297 million-asset credit union based in
North Charleston, S.C., initially implemented IMM’s eSignature solution
to simplify the loan application process. However, the credit union
quickly expanded its use to encompass any document that requires a
member signature, from loan applications to membership forms to
skip-a-pay requests. By integrating IMM’s flexible, remote eSignature
options into its loan operating system, CPM Federal Credit Union can
prepare, send and receive completed loan documents in a single day,
dramatically shortening overall turn times.

“Our eSignature solutions focus on making the document signing
experience easy for financial institutions and easy for consumers. This
dual advantage increases ease and productivity for all parties
involved,” said Howard Klein, vice president of Operations for IMM. “CPM
Federal Credit Union demonstrates the powerful impact eSignatures have
on an institution’s ability to remain competitive—particularly in
lending—by fulfilling members’ expectations for speed and allowing them
the convenience to sign documents from virtually any location.”

Flanders added, “IMM is always willing to accept a challenge and is
incredibly responsive to our unique needs. It’s refreshing to work with
a partner that understands our business and designs products
accordingly, while delivering a simple, seamless implementation.”

CPM Federal Credit Union plans to further apply IMM’s eSignature
technology across the organization, most likely next for its internal
human resources documents.

About IMM

IMM provides complete eTransaction automation to more than 650 U.S.
organizations. The company’s fully integrated eSignature, eWorkflow,
eLoan and eTeller solutions make transacting easy and convenient for the
consumer while creating a more efficient, cost effective and compliant
business environment. Any organization needing to remove paper and
create mobility within its contract or transaction management lifecycle
can benefit from IMM’s services, including financial services,
healthcare, insurance, real estate, life sciences, government, legal and
education. For more information, visit www.immonline.com.

Contacts

For IMM
Megan Fort, 678-781-7222
megan@williammills.com