The $64 million Members Exchange Credit Union in Ridgeland, Miss., said it received more than 100 applications since it launched a new online account opening solution in May.
The 15,000-member CU is using the accountWorks 2G system from fiVISION of Indianapolis to enroll new members and to offer existing members credit cards and electronic check options if they qualify and are not already using those services.
“We wanted to provide a convenient and quick method for online applicants to join Members Exchange or to apply for a checking account,” says Susan Boshart, Members Exchange senior vice president. “The solution needed to be able to verify the person’s identity as well as provide the ability to fund the new account via credit card or electronic check.”
She said the system provides the instant response consumers now expect and replaces one that required the online applicant to bring in or mail identification to the credit union in order to comply with Patriot Act requirements.
“This procedure did not give us the ability to provide that quick response, and therefore, had never been very successful,” Boshart said, adding that the new solution also will be used at onsite company enrollments.