Case Study

First Tech Federal Credit Union reduced time to close from 30 days to 21 days with Encompass

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

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