Case Study: Hughes Federal Credit Union cuts loan processing from weeks to minutes with Kinective eSignatures

From weeks to minutes digitized loan process shortens lending cycle and boosts volume by 27%

Hughes Federal Credit Union, a $2 billion institution in Arizona, faced a slow and costly manual lending process. Their practice of sending loans to branches for funding resulted in high shipping costs, multiple manual steps, and a multi-week funding timeline that caused lost opportunities. To address this, they partnered with Kinective to digitize their loan processes using IMMeSign and IMMeSign Plus eSignature technology.

Kinective implemented a solution that automated documents and enabled remote eSignatures, eliminating the need for members to visit a branch. The results were dramatic: loan processing time was reduced by 98% to just 120 minutes, and the credit union saved $107,000 annually by eliminating $40-per-loan shipping costs. The convenience also led to a 27% increase in lending volume, with a high percentage of loans now being funded through remote digital signatures.

Hughes Federal Credit Union

Andrew Britton

Vice President of Lending