Search Results

Your search for "loan origination system" returned 29 results

Is it Time to Upgrade Your Loan Origination System?

Is it Time to Upgrade Your Loan Origination System?

New CU Direct Case Study Reveals How the Right LOS Can Be a Significant Driver for Greater Loan Activity. La Capitol Federal Credit Union operated on a Loan Origination System (LOS) that was time-consuming, expensive, and inefficient in managing day-to-day tasks, such as emailing documents to members or the flexibility to change rules without an added fee….

How To Optimize Loan Performance

How To Optimize Loan Performance

Rapid growth in credit union indirect lending programs has triggered more examiner scrutiny and additional emphasis on the performance of these programs. Credit unions can be more effective in mitigating risk and optimizing performance within their indirect portfolios by taking a number of steps, including implementing a series of key metrics: dealer performance scorecards, multi-dimensional…

Adopting New Loan Origination Technology Produces Record Loan Growth For Pacific Service

Adopting New Loan Origination Technology Produces Record Loan Growth For Pacific Service

To achieve 18% annualized loan growth, a credit union needs a robust and efficient loan origination system. For Pacific Service Credit Union, Lending 360 was the right loan origination system to get the job done. The $1.2 billion credit union, located in Northern California, decided to shop around for a new LOS after its previous…

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. Mike Long, Executive Vice President and Chief Credit Officer for the $2.7 billion UW Credit Union, based in Madison, Wis., recalls rudimentary technology and…

For UMe Federal Credit Union, Incorporating an LOS Digital Strategy Delivered Double-Digit Loan Growth

For UMe Federal Credit Union, Incorporating an LOS Digital Strategy Delivered Double-Digit Loan Growth

When CEO Robert Einstein decided to implement a new loan origination system at UMe Federal Credit Union, all he was looking for was an LOS that would upgrade his online loan application process to include instant decisioning. He got it. But he also received so much more. The $215 million Burbank, California-based credit union now…

For Gather FCU, LOS Technology Drives Loan Volume, Heightens Efficiencies and Member Engagement

For Gather FCU, LOS Technology Drives Loan Volume, Heightens Efficiencies and Member Engagement

Residents of the Aloha State have consistently polled at or near the top of the Gallup-Healthways Well-Being Index, attributed in part to Hawaii’s well-known laid-back culture. However, aligning Hawaii’s laid-back lifestyle with the fast, ever-changing pace of today’s consumer lending environment can be a challenge. Just ask Justin Ganaden, EVP at Gather Federal Credit Union….

Leveraging a Digital Lending System to Help Drive Indirect Auto Loans

Leveraging a Digital Lending System to Help Drive Indirect Auto Loans

CU Direct recently partnered with Visions Federal Credit Union on a case study that took a close look at the credit union’s success in the indirect lending marketplace, and the steps the credit union took to overcome the challenges it had in growing loans through the indirect channel. Visions’ indirect lending program had been a…

Achieving Sustainable Loan Growth (Part 1)

Achieving Sustainable Loan Growth (Part 1)

Published in Auto Lending, Lending

Framing the Problem For every credit union that has invested heavily in its lending process, there are plenty more who haven’t.  Ok, most haven’t.  This is surprising considering the majority of a credit union’s earnings are loan-related and most strive to deliver a quality member experience.  This may also be why our industry struggles to…

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

Consumers Credit Union wanted more – much more – out of its indirect auto lending program. The credit union was frustrated with the inefficient way dealer partners sent the credit union applications through many costly systems, which ended up in their separate loan origination system. This, combined with a desire to work with a credit…

Technology Investments that Can Elevate Product and Service Delivery

Technology Investments that Can Elevate Product and Service Delivery

Although it can be tempting to chase the next new shiny object—and there are always exciting new innovations to consider in the financial industry—credit unions should focus on technology investments that optimize the delivery of trusted products and services to members. With an ever-increasingly competitive lending marketplace vying for consumer loyalty, credit unions should focus…