|
In 1997, San Diego-based North Island Credit Union--a $1.3 billion credit union with 12 branches and 98 approved broker offices--manually controlled loans delivered by its brokers, causing inefficiency in tracking, reporting and overall management of loan information.
Challenges
North Island CU's manual processes made it difficult to track, report and manage loan data. Management could not easily track changes made at various points during the process, calculate total profitability or receive timely information on closed loans. In addition, the credit union needed to better manage spikes in volume and quickly expand during those times.
Solution
In 1998, North Island implemented DataTrac to manage volume, track and report on production, and calculate profitability.
Results
In the first year after implementing DataTrac, North Island's volume increased from 800 loans ($68 million in volume) in 1997 to 2,580 loans ($189 million in volume). In 1997, its fundings per full-time employee totaled $4 million. In 1999 (after implementation) fundings per full-time employee totaled $12 million, three times the amount in 1997. With DataTrac, North Island can now manage loan data throughout the entire process, track changes and identify the person responsible, and efficiently create management reports. During volume increases, North Island can better manage their overall operation and accelerate training of new employees.
*The complete NICU Case Study can be read at www.delmardb.com/Case_Studies.asp
|
