CHICAGO – More than 60 members took advantage of First Financial CU’s Black Monday Loan Sale allowing the members to apply for and sign for unsecured loans on their mobile devices.
The offering from CU Mobile Apps incorporates technology provided by DocuSign for electronic document viewing and signing and allows members to apply for, view and sign documents over their mobile phone or tablet.
First Financial launched the new feature with a one-day sale Monday in conjunction with day-after-Thanksgiving shopping. Members who applied through the app received a loan for $500 at 6.99% for 9 months, with no credit check.
“We’ve had a tremendous response from our members about the app, especially initially when we had over 1,000 downloads in the first 30 days,” said Luis Reyes, Jr., chief operating officer of the $60 million former AT&T Teletype Employees credit union. “We wanted to take the next step and implement the Loan Request feature, which now gives our members a mobile, paperless loan process.”