Magazine article Mortgage Banking

Credit Union Implements FICS Systems

Magazine article Mortgage Banking

Credit Union Implements FICS Systems

Article excerpt

Financial Industry Computer Systems Inc. (FICS), Dallas, announced that CFCU Community Credit Union, Ithaca, New York, has successfully implemented Loan Producer[R] FICS' mortgage loan origination system, and Mortgage Servicer[R], its residential mortgage servicing system.

As CFCU's loan volume increased, its legacy DOS-based system was unable to deliver the levels of efficiency and precision necessary to maintain the credit union's competitiveness in its local mortgage market. With FICS' solutions in place, CFCU has effectively increased its ability to manage loan volume without having to add additional staff, according to Dawn Gibbs, president and chief executive officer of FICS.

"FICS has been able to automate loan origination and servicing for CFCU Community Credit Union, giving them the end-to-end solution required to better manage their loan portfolio and provide an increased level of service to its members," said Gibbs. "With fewer necessary manual procedures and processes as a result of our software solutions, credit union employees are able to eliminate labor-intensive tasks, providing more time and available resources to helping the organization grow and remain a competitive player in the New York marketplace. …

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