Manchester, NH (PRWEB) July 24, 2013
Bellwether Community Credit Union (BCCU), continues to offer innovative products to make banking and members’ lives easier. The organization is one of the first financial institutions in New Hampshire to launch eSignature, a technology that allows members to handle all the paperwork of a loan electronically. The technology allows Bellwether Community Credit Union and its members to store records digitally, increasing safety, and reducing storage requirements and paper waste.
eSignature became a possibility with the passing of the Electronic Signature Act in October 2000. The Act affirmed that electronic contracts held the same weight as those executed on paper. It took some time and further study, but eventually the technology was adopted by forty-seven states including New Hampshire. JPMorgan Chase, U.S. Bank, Royal Bank of Canada and Quicken Loans are just a few examples of businesses to-date that have adopted the technology.
Since Bellwether launched eSignature on February 21st, 2013, over 150 members have utilized the technology to close their loan outside of the branch setting. The use of eSignature is voluntary, and if members choose to use the technology, Bellwether provides them with instructions to walk the member through the electronic signature process. Valid “electronic signatures” are then added to digital documents with the click of a button; once completed, the check is made available for pick-up. If customers prefer to close in-branch, new technology continues to be utilized with members electronically signing documents on an iPad. This results in a significant reduction in paperwork and results in a significantly speedier loan closing process.
President/CEO of Bellwether Community Credit Union, Michael L’Ecuyer, explained that members have quickly embraced the eSignature option since it allows them to close on loans as their personal schedule permits. “At Bellwether, we understand that our members are busy. It’s our job to assist them by finding ways to make their interactions with us easier and more convenient,” stated L’Ecuyer. “eSignature is a secure, simple and efficient procedure that ultimately saves our members a considerable amount of time. It also streamlines our processes and allows our employees to close on loans in a matter of days rather than a few weeks.”
In 2013, Bellwether Community Credit Union was named one of Business New Hampshire Magazine’s Best Companies to Work For in New Hampshire. Bellwether Community Credit Union offers financial services to consumers who reside or work in New Hampshire. As a not-for-profit credit union, Bellwether focuses on returning value back to members through attractive rates and low fees; local, personal service; and services, delivery channels and processes that make members lives easier. Members can access their accounts at more than 28,000 free ATMs nationwide and approximately 6,700 CU Service Centers around the world. Bellwether Community Credit Union has branch locations in Bedford, Manchester and Nashua. For more information about Bellwether Community Credit Union, visit BCCU.org.