Knoxville Teachers Federal Credit Union's recent decision to add a remote electronic signature module to allow real-time loan-document signing online is already receiving a passing grade from its members.
The $206 million credit union, which serves Knox County, Tenn. and the surrounding area, finds itself in an increasingly competitive market with a limited membership pool. Because of this, the credit union's digital strategy is a top priority.
"We're a very old fashioned, closed-membership credit union. We're really an anachronism. There are very few non-community credit unions around that I'm aware of. So, what we have is a very small pond to fish in. We have our chartered field of membership – educators and school employees," David Underwood, treasurer/manager for the credit union, said.
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