The CU*Answers Imaging Solutions team has partnered with eDOC Innovations and Virtual Strongbox to hold contests to create a friendly competition between credit unions utilizing their products to encourage them to adopt a culture internet retailing with members. In today’s world with so many members leading busy lives and being increasingly plugged in to a “get it done now”, smart device culture, credit unions are finding themselves needing to adapt to get business done on members’ terms.

The partners created three contests to help credit unions have a little fun while they learn to do business in this remote environment, with $23,000 in prizes up for grabs. The first contest with a prize of $10,000 each for hosted and on-premise imaging solutions, goes to the credit union that closes the most loans electronically via eDOCSignature™, eDOC Innovations’ e-signing product, as a percentage of their total loans closed during the same period.

The second contest offers $1000 each to hosted and on-premise imaging solutions for the most documents e-signed via eDOCSignature™ based on membership size to challenge credit unions to interact with members remotely for all business not just lending.

The last contest is to encourage credit unions to engage members to leverage Virtual Strongbox to exchange documents remotely. This contest has a reward of $1000 for the credit union with the largest percentage of new members leveraging Virtual Strongbox via online banking to get in the document exchange business.

The contest period began October 1, 2017 and runs a full year ending on September 30, 2018. John Beauchamp, CU*Answers VP of Imaging Solutions said: “The goal of these contests is to work to help credit unions become internet retailers and provide channels for doing business remotely with their members and have some fun and friendly competition along the way, and for a lucky few even win a prize!”

As for the contests results thus far, Beachamp suggested that it’s apparent that culture wins. “The credit unions in the lead are the ones that have adopted these tactics as a part of what they do every day and not an exception to what they do,” he added. “We had one credit union complete 100% of their loans for the first month of the contest via eDOCSignature. That’s an internet retailer!” On-going results can be followed on CU*Answers’ website.