It’s not every day the top leaders in an industry get beaten out by the “little guy.” But at this month’s Washington Technology Industry Association Industry Achievement Awards, WSECU’s Information Technology Department won in the category of “Information Technology Department Innovation of the Year” for its online Q-Cash product.
Q-Cash is WSECU’s short-term loan offering that provides members an alternative to traditional payday loans. With lower rates, a longer term and the ability to repay the loan in two installments, Q-Cash loans give credit union members a more consumer-friendly resource for their short-term loan needs.
During 2009, WSECU’s information technology department worked with the Q-Cash line of business to create an easy-to-use online channel for return borrowers to apply for Q-Cash loans. The online Q-Cash product was developed in-house and has allowed WSECU to grow its Q-Cash business while not having to grow the staffing or other resources that would typically be needed to support the additional volume.
The Washington Technology Industry Association’s Annual Industry Achievement Awards recognizes companies, individuals and students who best demonstrate innovation and excellence in creating new technologies, applications and services. Winners were determined by a panel of area industry experts.
WSECU serves 160,000 members with $1.5 billion in assets and 19 branches across Washington.