- Credit union improves internal processes while mitigating legal risk - CLEVELAND, March 4 /PRNewswire/ -- Hyland Software Inc., developer ofthe OnBase(R) enterprise content management suite, announced that WhatcomEducational Credit Union (WECU) has selected OnBase as its document andrecords management solution. Whatcom ECU implemented OnBase's recordsmanagement capabilities throughout its 12 branches to automate complexretention requirements and to assist in meeting their complianceinitiatives. (Logo: http://www.newscom.com/cgi-bin/prnh/20070110/CLW019LOGO ) Through OnBase, WECU is able to set retention schedules on documentsaccording to the credit union's business requirements, which freesemployees from managing complicated and varying retention schedules.OnBase's electronic records retention capabilities also make it easy forWECU's Senior Management team to audit retention policies prior to stateexaminer or Office of Foreign Assets Control (OFAC) audits. Prior to OnBase, WECU was storing files as hard copies in boxes at astorage facility. The boxes were marked with a date to destroy and thecontents were not audited prior to the destruction date. OnBase enablesWECU to configure records folders and retention schedules without customcoding. Once the retention period is complete, the record is flagged to bereviewed and then purged as dictated by WECU's senior management. "Not only does OnBase provide instant access to member documents andreports at any time, but it also allows our institution to automaticallymanage the complex, labor-intensive document retention policies legallyrequired of our institution, an option that was once unavailable to us,"said Patti Moser, systems administrator at WECU. "The implementation of theRecords Management solution was painless. Its implementation took a matterof days and its impact was instantaneous." OnBase Records Management enables WECU's management of a businessrecord as defined by the Revised Code of Washington 5.45.020. The retentionpolicies and eventual destruction of documents within the business recordis also managed by Hyland's Records Management solution based on when therecord is closed, paid off, or terminated. About Whatcom Educational Credit Union Whatcom Educational Credit Union (WECU) is a member-owned,not-for-profit financial cooperative with $516 million in assets and 51,000members. Established in 1936, WECU began as a volunteer operation and hasevolved into the largest credit union in Whatcom County, Wash. with over240 employees. Its mission is to provide all members with legendaryfinancial products and services in a financially safe and soundenvironment. WECU's services and commitments range from financialcounseling and first time mortgages to member seminars and small creditunion consulting. For more information, please visit http://www.wecu.com.
About Hyland Software Please visit http://www.onbase.com. For Hyland Software: Lindsey Quirk (678) 781-7217 wma@onbase.com
