BELLINGHAM, Wash. -- Whatcom Educational Credit Union (www.wecu.com) has deployed a new document management solution across its 12-branch network to help automate its compliance initiatives.
The $529 million CU is using the OnBase Records Management solution from Hyland Software Inc. of Cleveland, Ohio, to meet state records retention and federal Office of Foreign Assets Control audit regulations.
The new solution replaces storing records as hard copies in a storage facility, which were destroyed after the allotted time without an audit, the CU said. The new system allows WECU to flag and schedule records for review before they're destroyed.
"Not only does OnBase provide instant access to member documents and reports at any time, but it also allows our institution to automatically manage the complex, labor-intensive document retention policies legally required of our institution, an option that was once unavailable to us," said Patti Moser, systems administrator at 51,000-member WECU.