DES MOINES, Iowa–The Iowa legislature has passed a bill allowing businesses in the state to facilitate notarization of documents remotely. The E-Notary bill, SF-475, will go into effect July 1, 2020.
The legislation had the backing of credit unions, including the Iowa league. The ICUL noted that during its annual convention, the Iowa Innovation Group (IIG), a group of CUs participating in research of innovative solutions for credit unions using Filene’s innovation methodology, presented the concept of remote notarization to attendees.
“In my role at the credit union, I saw the need to offer this type of notary service alternative for our members,” said Cathy Davis, who led the IIG team. “I had heard of another state offering this and wanted to find a way to bring it to Iowa. The response our group received from the Iowa Credit Union Convention confirmed this concept was a good idea and something worth seeing through.”
The league noted access to notaries can be challenging for consumers with travel limitations and those in rural areas. This year, a coalition of interested parties, including ICUL, LenderClose, the Iowa Association of Realtors and the Iowa Association of Business and Industry, all lobbied in favor of the bill, the league said.
‘Tremendous Experience’
“This has been a tremendous experience to be involved in the creation and passing of a bill,” said Davis. “I don’t think I would have pursued this without the help and encouragement that I received from the IIG program, and the privilege of presenting this to all of our great credit unions.”
“I would like to commend Cathy Davis and the ICUL lobbying team for their efforts in seeing this innovative concept through to fruition,” said Andrea Dose, Director of Member Services for ICUL. “2019 proved to be a tipping point where practical need, technology and bipartisan support intersected to create effective change. Positive change and expanded access to credit union products and services is why ICUL continues to invest in the IIG program and in promoting innovation in our industry.”