Case Study: Virginia Credit Union cuts verification costs by 60% with Truework

Virginia Credit Union cuts verification costs 60% with Truework

Virginia Credit Union, a financial institution serving members nationwide, faced significant challenges in its mortgage loan verification process. Their previous methods were fragmented, slow, and costly, relying on multiple vendors and manual outreach that consumed over 10,000 hours of staff time and cost more than $140 per application. To address these inefficiencies and rising costs, VACU turned to Truework for an automated income and employment verification solution.

By implementing Truework's platform, which integrates with their point-of-sale system and loan origination software, VACU automated the entire verification process. The solution from Truework led to substantial results, including a 60% reduction in verification costs per application and a 50% decrease in processing time. These efficiencies contributed to overall faster loan closings, higher staff productivity, and a significantly improved member experience.

Virginia Credit Union