RBFCU and Blend partner together now for the future

Over the past few years, financial institutions have embarked on a large-scale digital transformation journey in an effort to boost product speed, security, and convenience. It's no secret that an FI's success often hinges on technological capabilities - and that some of the most successful digital transformations have been the product of strong tech partnerships.

But what if we told you that "moving beyond the contract" is what really matters? And that credit unions and banks who've prioritized building better partnerships are bringing solutions to market faster than ever, thereby meeting member expectations and setting the stage for future wins? That's exactly what the Randolph-Brooks Federal Credit Union (RBFCU) team did when they partnered with Blend at the beginning of 2024.

United we thrive

RBFCU is Texas's largest credit union. With over one million members, $1B per year in mortgage production, and a staff of over 250 people, Victor Williams, Senior Vice President of Mortgage, began looking for a newer, more robust technology solution that could better serve both members and RBFCU employees back in 2018. Initially, RBFCU's IT Department proposed an in-house product. But when the Blend platform was reviewed, RBFCU was on board for the proposal. "That opened the door for discussion and we eventually landed with Blend - our number one choice," Williams said.

Williams and his team were impressed by Blend's technology. But what made Blend stand out among other competitors was a commitment to a partnership built on transparency, mutual respect, and an eye for innovation, all of which are crucial for navigating the complexities of financial services.

"One of the decisive factors was Blend's ability to provide a technology backbone. Early on the Blend team spoke to me about APIs and how we could plug into other providers. And in their mind they had already built three or four different workflows. Plus, they got our tech team involved early on in the process, and it ended up being a very engaging, collaborative process."

Victor Williams
Senior Vice President of Mortgage

Mastering the art of first impressions

Williams's team went live with Blend-built Mortgage, HELOCs, VOI, and traditional Close solutions in July of 2024. And in only one month they saw a 12% increase in submitted applications, with over 1300 applications. According to Williams, RBFCU member engagement was about a 50/50 split between web and phone. Since partnering with Blend, they've noticed a shift back to web interactions. Speaking of initial impressions, Williams said, "It's starting to move back to the web, which tells me you have good member satisfaction. They're engaged and they're getting all the way through to hitting submit without having to call for help. Looking at some of the net promoter score (NPS) comments, the majority of people say it's fast, easy, and took about 20 minutes to complete."

Since implementing Blend Home Equity, Williams and his team have noticed improvements to the adoption rate. Prior to Blend, Williams said the process was "clunky" and that it was difficult to gain a good understanding of the workflow. "Now it's so much cleaner, which is improving the overall LO performance. They're processing apps about a day faster than they used to." LOs are needing to spend less time chasing documents, which has enabled them to concentrate their efforts elsewhere.

Enjoying success on both sides of the desk.

Member and employee satisfaction are top priorities for Williams, and the early feedback from both members and RBFCU staff have confirmed that Williams's team made the right decision in partnering with Blend. With an NPS of 9 since launching, Williams has seen many positive comments pour in, with one member saying, "I didn't have to re-enter information for joint assets when applying with my spouse. I work in technology, and this is why financial institutions should invest in technology. Another digital mortgage provider was much more difficult, didn't capture everything online, and forced a tedious Q&A with a phone representative."

Time is money for everyone, but especially LOs. And digital mortgage technology can help loan officers close more loans in less time. Since implementation, LO feedback on Blend's mortgage solutions has been equally affirming. Williams related that, "After we implemented Blend, I got an email from one of my LOs praising Blend and us for bringing in this solution. She specifically mentioned that the streamlined process has not only improved the member experience, but has also made it significantly easier for her to manage her pipeline efficiently. This increased efficiency and has enabled her to provide exceptional service to our valued members in a timely manner".

Looking to the future

It's common knowledge that banking habits vary between generations. And with millennials being one of the RBFCU's biggest member bases - and Gen Z on their heels - Williams and his team know all too well the importance of a robust digital strategy. Phase two of RBFCU's rollout has included Blend products like Hybrid Close, LOTK (pricing & credit), and LO Mobile - but as Williams says, "We're just turning things on. It will be fun to see all the dynamics as other products come into play".

RBFCU certainly chose to partner with Blend due to their ability to deliver advanced, flexible technology, but their mutual willingness to invest in a genuinely collaborative, supportive and innovative relationship is what will carry them into the future. Williams says, "If you're looking at Blend, and you're ready to start that partnership journey, just look at the technology. Look at how others have leveraged the platform within their space. You have the opportunity to put your own personal touch on it and become very successful with their products."

"We want to ensure that our digital experience is fully satisfying for a growing segment of our membership that expects to handle their financial transactions digitally. And we see Blend playing a big role in that strategy."

Victor Williams
Senior Vice President of Mortgage

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