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Online Document Management

Case Study: McCoy Federal Credit Union

McCoy Federal Credit Union serves Orange, Osceola, Seminole and Lake counties in Florida.

Problem

Executive and Board of Director Communications
To effectively conduct the business of the Credit Union, the CEO and Board of Directors needed secure online document storage and access to current and historical board meeting minutes, financial audits, NCUA audits, policies, bylaws, and annual reports. With the original paper-based system, the Credit Union Document ManagementExecutive Assistant spent many hours collecting, copying, and distributing this information via email or postal mail to the Directors, since they did not have access to the CU's internal network.

Document Management Solution

With DocuVantage's online document storage and records management, CU management and directors have a secure, fast, and easy way to access the documents from any location. The initial phase of the DocuVantage® implementation also included document scanning to allow McCoy the ability to quickly and easily research past events and activities. The next phase will automate the Board of Directors package assembly and distribution for upcoming board meetings. This will eliminate emailing documents for review and approval.

Managers System
The Chief Operating Officer of the Credit Union is responsible for a staff of over 200 employees at nine locations. This requires multiple policies and procedures, meeting notes, disaster recovery plans, continuity of operations plans (COOP), personnel files, and other documents. Access to information is important to the operation of the CU. As they continued to grow, records management in paper had become a burden. DocuVantage OnDemand®'s document and information management application resides in a Tier IV data center, providing the ultimate data access and protection for their COOP and DR plans. Currently DocuVantage OnDemand® is a repository for mission critical information. Future plans include rules bases workflow to automate the document review and approval processes within McCoy.

By using DocuVantage OnDemand® for their credit union, the CU document managment system no longer involves multiple versions moving back and forth and residing in their email application. They can collaborate securely within the online document storage and records management application easily maintaining the retention scheduling for their compliance regulations. The time saved by having one secure area where all documents reside and can be quickly searched has not only reduced costs but increases the time they can focus on their core business, providing more service to their members.

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