Loker says that they use Suntell for risk ratings, both at the time that the loan is originated, and as part of the annual review process. Documentation tracking is utilized to monitor the completion of annual reviews. Loan Presentations are now all consistent and uniform. The credit union had examiners a year ago, and the examiners had nothing but praise for the amount of information that was included in presentations. After looking at just a few presentation reports, the examiners knew how to find information and had everything they needed in one report.
Loker says, “Our internal audit department loves being able to access documentation through Suntell without having to request physical files be sent to them. The ease of being able to find the exact image needed through doc imaging has sped up the internal review function.”
The credit union also sends letters out of the system for requests for financial statements and tax returns. Previously, updated financial information was only requested as it was needed so receiving a system generated letter was a first for most of their members. Loker found that they had a good response from their members with what information they were requesting and why. Their first round of requests produced better results than the credit union thought they would receive.