Northern Illinois Credit Union Welcomes New Members with eDominate's Online Lending Solution
Rockford, IL, July 11, 2008 Rockford Bell Credit Union today announced its purchase of eCommerce Manager (eCM) software from eDominate Inc, a global provider of buying-cycle management solutions for financial institutions.
"Our members are eager for online lending," said John Hansen, President and CEO of Rockford Bell Credit Union. "And eCM is the perfect solution for them. The fact that eCM supports both consumer and mortgage loan applications, provides our members with loan matching and instant approvals, and helps them research local homes and vehicles, makes it ideal from a holistic-service perspective."
eCM is an interactive online lending and customer service portal designed to improve financial institutions' loan portfolios, deposits, and profitability. The software gives credit unions the ability to support members during the research, shopping, and lending stages of their buying cycles. This expanded customer service not only creates value and loyalty for members, but increases the credit union's chances of capturing their loan business when they are ready to seek financing.
"Rockford Bell is making its move," said Ed Powelson, Vice President of Regional Sales at eDominate. "By deploying eCM, they jump ahead of many of their local competitors in online lending services, plus have a chance to expand their market by winning new members." eCM will initially be used to support consumer lending at Rockford Bell Credit Union, and may eventually open up a new line of commercial services as well.
"Every generation has their style of managing finances," said Hansen. "For my grandparents after the Great Depression, it was cash. For my parents' generation, it was checking accounts. For the current generation, it's credit and debit cards. And for the next generation, it will be the Internet and online banking. Rockford Bell Credit Union wants to support all of our members across all these different styles of financial management."
Rockford Bell Credit Union will be offering eCM's online lending services this summer to members and select employee groups, and then opening its online lending services up to the eight counties of the Rockford metropolitan area to gain new members in the months ahead. They anticipate 500 to 1,000 unique users in the first few months of eCM availability.
About eDominate
eDominate Inc. ("eDominate") is a global provider of software and services that help financial institutions
to build and monetize social networks. Banks, credit unions, and finance companies use eDominate's
patent-pending methodology and Internet technologies to open new markets for lending and deposits, win new
commercial accounts, drive new lending opportunities, generate new revenue streams, improve customer service
online, provide community advocacy, achieve "greener" business operations, and cross-sell more financial
products and services. eDominate software can be delivered internationally and customized to accommodate
almost any financial niche. For more information, please visit www.eDominate.com.
About Rockford Bell Credit Union
Rockford Bell Credit Union was first organized in 1935 by a group of Rockford employees of Illinois Bell
Telephone Company. Over the past 70 years, the Credit Union has grown into a $30M financial institution with
over 6,000 members serving eight counties and over thirty-five different employee groups. Rockford Bell
Credit Union recently acquired North West Illinois Credit Union, and now operates three full-time locations
in Loves Park, Mount Morris, and Rockford. Rockford Bell Credit Union offers several savings options,
checking, Visa credit and debit cards, travelers' checks, auto loans, personal loans, home equity and
mortgage loans. For more information, please visit www.RBCU.net.