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VACU Speeds Up Mortgage Closing with New Mobile App

mortgage mobile appA new mobile mortgage app from Virginia Credit Union is cutting days out of the mortgage process and helping users to get into their homes faster.

The Virginia Credit Union Mobile Mortgage App contributes to nearly 15 percent faster closings by enabling members to track the progress of their mortgage application through push notifications, easily connect with their loan officer, and securely upload documents by using the camera on their smart phone or tablet.

The credit union first introduced the mobile mortgage app as a pilot in 2017. It received national recognition as a finalist at the Gartner Eye on Innovation Awards competition in October 2017.

“We’ve now rolled out the app as an option for all of our mortgage users,” explains Alan Cannaday, mortgage sales manager for Virginia Credit Union. “We’re pleased to see an increasing number of our members take advantage of this powerful tool for both purchases and refinances.”

Users of the app receive real-time notifications of their loan status, have an easy way to connect directly with their loan officer and will receive electronic prompts if there are any documents missing from their application.

“By taking a photo of the documents and sending them through the app, members have an easy and secure way to send the documents required to complete their application. Missing documents are one of the more common reasons approval of a mortgage application may be delayed,” says Cannaday.

Approximately 225 Virginia Credit Union members have used the app since it was introduced. While that is a small fraction of the total number of mortgage applicants, usage is growing as the credit union’s loan officers make members aware of the tool and its benefits.

A financial cooperative serving more than 270,000 members, Virginia Credit Union offers a variety of affordable banking services, loans, mortgages, and free financial education resources, with a focus on helping people be more confident with their finances. Virginia Credit Union is an equal housing opportunity lender and is federally insured by NCUA. 

Media Contact: Glenn Birch | | (804) 560-5664