We have news to share for credit unions! DocuSign is very pleased to announce our relationship with CUNA Mutual Group, the leading provider of financial services to credit unions. We will work together to provide credit unions with easy, fast, and secure electronic signature solutions to speed the lending process and provide options in the wake of recent regulations on Multi-Featured Open-End Lending.
This is great news, as CUNA Mutual is a well-respected organization in the industry. More than 300 credit unions already trust DocuSign, and now we look forward to helping even more credit unions:
- Earn interest faster – DocuSign helps credit unions get loan documents completed faster to earn interest sooner
- Eliminate “Not In Good Order” – DocuSign’s guided, error-proof signing means complete documents every time
- Meet compliance requirements – DocuSign helps credit unions control the signing process to ensure all data remains secure and every transaction includes a complete audit trail
- Delight members – Members can open accounts and apply for loans in minutes anywhere, anytime, on any device without a trip to the credit union
The agreement between CUNA Mutual and DocuSign comes shortly after the National Credit Union Administration (NCUA) issued its guidance letters on Multi-Featured Open-End Lending (MFOEL) and Multi-Featured Lending. The NCUA clarified that open-end and closed-end lending are two distinct regimens and each require their own application, timing requirements and disclosures for the member-borrower. DocuSign is uniquely positioned to help credit unions ensure compliance for both types of lending while maintaining the same type of member convenience associated with a MFOEL program.
Very soon we’ll be hosting a series of educational webinars designed to offer credit unions insights, best practices and practical methods to comply with the new NCUA regulations. You can learn more about how DocuSign helps credit unions here.