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Records Management Software

Case Study: JM Associates Federal Credit Union

 

JM Associates Federal Credit Union (JMA) is a not-for-profit federally chartered credit union; regulated by the National Credit Union Administration (NCUA). JMA offers loans, checking and savings accounts, IRAs, credit and debit card services to its members.

Challenge

JM Associates Federal Credit Union offers credit card transactions, Home Equity Lines of Credit and loans through a core processor. Each month, the core processor provides JMA with one copy of three large-electronic files on a CD; each containing thousands of individual-member statements. Often times a JMA credit union member would call one of the six branch-office locations to request a copy, or copies, of the prior-months statements.  In order for a JMA employee at a branch to find a specific customer's statement, they had to submit the request to the main office where the only copy was kept.  Searching through multiple CDs with limited search functions, one-at-a-time, to find the desired records was a time consuming process. Their records management process was also frustrating for members. They had to look through records storage for a quick response, and it was taking up an extensive amount of time for JMA staff that could easily be reduced if a more effective online records storage and indexing system were implemented.

Document Management Solution

 

JMA subscribed to DocuVantage OnDemand®, an online document and records management application which included a customized script that reads each large file and then separates each file into individual statements according to its account number. Each separated statement is then uploaded into DocuVantage OnDemand® using the index values extracted from the file. The application organizes the uploaded file by name, account number and category.  Now, JMA employees can quickly access any member file by account number or name or by using the Text Search feature to find the desired records.

Better Organization & Management

 

JMA staff can now access the statements without having to wait for the main branch to upload and search multiple CD’s for the correct file. Authorized employees, at any of the multiple branches, simply log into the system to access the file in seconds. Because DocuVantage OnDemand® is a secure web-based application you can log into the system from any location with an internet connection through your web browser, which also means – no software to install or hardware to depend on. With an improvement in time management, JMA is also expecting to see a boost in member service with the new system enabling members’ requests to be provided immediately rather than responding with a returned phone call later, after sifting and searching through files on CD’s.

In addition, DocuVantage OnDemand® has helped JMA with its disaster recovery compliance. Because all information in DocuVantage OnDemand® is stored in a secure, Tier IV data facility outside of Florida, JMA’s important files are protected from disaster. This security assists JMA in adhering to their document retention compliance requirements as well.

JMA also enters and archives its monthly reports in the system, allowing staff to easily find, retrieve and review information when needed. With their DocuVantage records management system in place, JMA is operating more efficiently and using DocuVantage OnDemand® in many ways to keep their business running smoothly.

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