Founders Federal Credit Union Completes Successful Migration to Corelation, Cites IMM’s eSign Conversion Services as Pivotal to Success
Rahway, NJ | April 20, 2022
IMM, the only eSignature provider specializing in eSignature and digital transaction solutions exclusively for financial institutions, announced today its conversion services was instrumental in the successful migration of long-time client, Lancaster, S.C.-based Founders Federal Credit Union, to a new core processing platform, Corelation. The credit union cited the seamless integration of its eSignature platform, IMM eSign, with its Corelation Keystone platform, as the critical element that enabled such a successful migration.
Founders initially partnered with IMM more than 10 years ago. The credit union considers IMM an extension of its team and credits the eSignature provider’s in-depth knowledge of credit union operations and industry expertise for the smooth transition during the core conversion process. Knowing that IMM is the only eSignature provider specializing in digital transaction solutions exclusively for financial institutions reinforced Founders decision that every key objective would be addressed. The credit union leveraged IMM’s experienced team throughout the migration process, ensuring its critical eSignature platform was easily migrated and integrated into the new Keystone operating environment.
Founders’ CTO, Bob Bender, said, “We wanted to provide a digital-first advantage to our members, and Corelation provided that functionality. However, it was paramount that we did not lose any of our digital capabilities we had already implemented with IMM’s eSignature solutions. Together with IMM, we immediately implemented more efficient procedures and operations. For example, prior to the conversion, we had five resources dedicated to back-office operations, and we were able to reduce that to one, allowing the other four individuals to focus on better serving our members. The history we have with IMM bolstered our confidence that it would be a seamless transition. We worked with more than one hundred IT vendors through this conversion, and IMM’s partnership has been one of the best, if not the best. IMM knew what we needed to do to be successful.”
Founders maximized IMM’s e-document conversion capabilities and developed a workflow that created new efficiencies in data conversion which eliminated 22% of the member-facing paper documents Founders had previously relied on for day-to-day operations. IMM not only provided a conversion service that consistently produced zero errors, but it also significantly cut back on time. Founders can now produce precise documentation for members, accelerating the overall process. Even more, IMM’s e-delivery knowledge helped Founders to augment its staff, allowing them to take on much more complex workloads since IMM spearheaded all conversion and project management tasks, ensuring a smooth transition.
Michael Ball, SVP at IMM, said, “IMM values our client relationships, and the long-term partnership with Founders exemplifies perfectly why our clients turn to us for their digital transformation needs. Our conversion services team has a strong reputation for going the extra mile to help our clients through what can often be a very stressful process. They manage every implementation with extra care, paying attention to the smallest details so they can meet the key objectives. Ultimately, our years of knowledge and experience in working with credit unions enabled our joint success in this core conversion.”
The organizations have grown and evolved together. IMM has observed Founders accomplish its objectives from paper reduction, to increased employee productivity, to substantial cost reductions in the overall process. IMM’s ability to interface with virtually any core, LOS, or imaging system allows both credit union employees and its members to maintain the eSignature experience when back-office vendors or lending systems change. This helped ease Founders’ transition to its new system and created additional connection points for the credit union to leverage IMM’s full array of eTransaction automation solutions.
For 25 years, IMM has been the premier provider of eSignature and Digital Transaction solutions designed exclusively for financial institutions. Today, more than 1,500 banks and credit unions use IMM’s eSignature and Digital Transaction Management solutions across the Institution to elevate consumer experiences while streamlining back-office processes in a comprehensive, end-to-end digital processing environment.
About Founders Federal Credit Union
The credit union, one of the largest and most innovative in the nation, was founded in 1950 in Fort Mill, South Carolina to provide financial services to the employees of Springs Industries, Inc. Founders serves over 220,000 members and has more than 30 locations. The credit union has nearly $2.6 billion in assets. More information about Founders Federal Credit Union can be found online at https://www.foundersfcu.com/.