Before making the switch to Wellington IT's core system, processing a loan at 1st Alliance could take up to a week, was completely paper-based and required manual checking.
Now, processing a loan is completely paperless, and takes just five minutes.
Since moving to a more efficient process, 1st Alliance have seen their loan numbers quadruple. Credit checking is no longer a manual process, reducing time spent from 2 days to just 2 hours. This has in turn helped 1st Alliance reduce their bad debt to just 3% - less than a quarter of the industry average.
Since implementing the Wellington IT core Credit Union system in 2007, 1st Alliance have saved the costs of an entire full-time member of staff. This increased freedom to reach out the community also means 1st Alliance can voluntarily complete yearly accounts for two local social organisations, ensuring they can focus on helping the community.
The time savings throughout the system, including the changes made to loan processing, mean that 1st Alliance can now spend up to 20% of their week reaching out to their community and adding value to their common bond.
Working in deprived areas, the team at 1st Alliance help locals with their finances, especially those struggling to balance benefits payments, PIPs, and Housing Executive costs.
1st Alliance works with 7 of 8 local Social Landlords to help protect their renters, offering low-interest loans to help get set up, as well as loans to cover rent arrears, preventing evictions and homelessness in an already tough economic climate.