Case Study: Educators Credit Union saves $341,000 annually on verifications with Truv

Educators Credit Union saves $341,000 annually with Truv

Educators Credit Union, a member-owned financial institution in Southeast Wisconsin, faced challenges with costly and manual income and employment verification processes. They were spending over $370,000 annually and needed a solution to improve operational efficiency and the member experience. They partnered with Truv to implement its consumer-permissioned Verification of Income and Employment (VOIE) platform.

Truv integrated its solution directly into the credit union's nCino and Encompass systems, automating verification workflows. This implementation resulted in annual savings of $341,000, a more than 90% reduction in verification costs. Truv also achieved high login conversion rates and delivered a faster, more streamlined experience for both members and lending teams.

Educators Credit Union