A Primer On Electronic Signatures

Service is often cited as a leading reason to bank with a credit union. But in the same breath, some also find fault with reduced hours and the lack of widely located branches. The same people who are shopping on their computers, smartphones and tablets are also looking to conduct business with their credit unions electronically. Whether opening an account, signing a loan or completing a credit card application, members want the convenience to bank anywhere, at any time, on any device. As a result, the traditional way of signing forms and documents is changing – from paper to paperless.

With an e-signature solution, credit unions can render these complaints obsolete by delivering the experience members are demanding. “Providing the ability for our members, who are disbursed across a wide geographic area, to sign documents from anywhere creates an edge that allows us to compete with larger financial institutions,” explains Kathy Clark, vice president of sales, service and operations with Teachers Credit Union in Hamilton, Ont., in regards to the credit union’s adoption of e-signatures. “We are offering a higher level of service, which today is important to retaining existing and attracting new members.”