Case Study
First Tech Federal Credit Union reduced time to close from 30 days to 21 days with Encompass
Profile • First Tech Federal Credit Union • Palo Alto, California • $3.6B annual loan volume Challenge Find a lending platform that could provide the automation, scalability and configurability to support the credit union’s rapid growth. Results • Increased loan volumes from 7,700 units to 11,000 units, without adding headcount • Increased loans per operation staff by two loans per day, per person • Reduced time to close from 30 days to 21 days or less • Increased Net Promoter Score by an average of 13–23 points • Decreased new staff training times by 50 percent The challenge First Tech Federal Credit Union has innovation at its core. The institution was founded by leaders of Hewlett-Packard and Tektronix back in 1952. Today, with an expanded charter, First Tech i
