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News Now

CU System
CU first in Michigan to allow e-mortgage closings
EAST LANSING, Mich. (10/30/09)--Michigan State University FCU is the first credit union in Michigan to allow members to close on their mortgages electronically, says the Michigan Credit Union League. Members of the $1.7 billion, East Lansing-based credit union can apply for a mortgage online and share their documents with attorneys and family members through a secure website (Michigan Monitor Oct. 26). The members then complete the process on a touch screen computer at the credit union, where they receive a flash drive or CD containing all the documents to take home and store for future use. "Giving our members electronic access to online applications, closing documents and the convenience of an e-closing all enhance our members' experience with the credit union," said Jeffrey Benson, MSU FCU vice president of operations. "We want to be the first lender our members think about when it comes to financing their homes, vehicles and other things necessary to their lifestyle. Being a leader in electronic services enhances our relationship with our members." The credit union offered a demonstration Thursday at its headquarters.


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