Medisys Employees Federal Credit Union Generates Significant Revenue and Closes 33% More Loans Leveraging IMMs eSign
Rahway, NJ | February 15, 2023
IMM, the only eSignature provider specializing in eSignature and digital transaction solutions exclusively for financial institutions, today announced that Queens, NY-based Medisys Employees Federal Credit Union (Medisys EFCU), with more than 3,200 members under the Medisys Health Network, has successfully leveraged IMM’s eSign solution resulting in a 33% increase in closed loans. IMM’s eSign technology seamlessly integrates to streamline anything from signing loan applications or closing documents to conducting loan maintenance transactions, delivering an enhanced and engaging member experience.
Medisys EFCU knew they needed an eSignature solution to create a completely digital process for their members. Since partnering with IMM in 2018, Medisys EFCU has benefitted from implementing IMM’s eSignature platform to provide members with an exceptional experience, generate efficiencies across the institution and streamline processes and transactions. Now taking advantage of IMM’s technology offering, the credit union has seen a rise in remote digital transactions completed by members which has in turn increased revenue.
Medisys EFCU’s Special Projects Coordinator, Karilyn Neumann, said, “Implementing IMM eSign was a game changer. In this day and age where members expect these digital solutions, we go the extra mile to help meet our members’ expectations, and IMM played a key role in not only reaching, but exceeding members’ expectations. Everyone here at Medisys Employees Federal Credit Union uses the eSign solution every day – the frontline staff uses it all day long. It adds flexibility, it meets people where they are at, and it saves time and window traffic in the branch. I would never go back to life before having an eSign solution.”
With core provider Fiserv OnCu, IMM’s solutions directly integrated with the core processing system and other business systems used at the credit union to create seamless eSignature transactions across the entire institution. In September 2022, the credit union then transitioned to Fiserv Portico core system. IMM was helpful in working to ensure all documents were mapped properly so that Medisys could continue processing loans by eSign right after coming online with Portico. Additionally, this has enabled the credit union to deliver a superior member experience. Before eSign, the credit union facilitated 100% of its loans in person with wet signatures on paper documents. Now, IMM’s digital solution has become crucial to the credit union and its members by eliminating time consuming and lengthy legacy processes. With IMM eSign, members can conduct transactions at the time and location of their choosing.
“Credit unions need e-Signature technology that is specifically designed for financial institutions. More and more where e-signatures are becoming the rule and not the exception, IMM is dedicated to helping credit unions meet market demands and better serve their member expectations,” said Michael Ball, IMM’s Senior Vice President of Markets and Strategy said, “Financial institutions can provide exceptional service by empowering consumers with access to eSignatures that can be completed whenever and wherever is most convenient for the customer. We are proud to work with Medisys Employees Federal Credit Union to provide members with the necessary tools to have a delightful signing experience.”
For 26 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 Medisys Employees Federal Credit Union
Medisys EFCU was chartered in 1972 as Jamaica Hospital Employees FCU, to serve the employees working at Jamaica Hospital Medical Center in Jamaica, Queens, NY. In 2004, the name changed from “Jamaica Hospital EFCU” to “Medisys EFCU” to better identify with its growing field of membership. Today, the credit union has more than 3,200 members and manages over $33 million in assets. For more information, please visit www.medisysefcu.org.