Loan Origination Systems Articles

How Credit Unions Can Set Themselves Apart in the Mortgage Lending Business

How Credit Unions Can Set Themselves Apart in the Mortgage Lending Business

Since their inception, credit unions have been able to leverage the membership dynamic to set themselves apart from other financial institutions. But when it comes to building a mortgage lending pipeline, it takes more than just a built-in membership base to serve today’s borrowers’ needs. Let’s take a closer look at three ways credit unions…

New Loan Origination Technology Helps Vantage West Drive Speed and Efficiency Across the Entire Lending Process

New Loan Origination Technology Helps Vantage West Drive Speed and Efficiency Across the Entire Lending Process

The $2 billion Vantage West Credit Union is one of Arizona’s largest financial institutions, serving nearly 157,000 members. Lending has driven its strong and steady growth; according to NCUA financial reports, Vantage West’s key financial measures show it has led its peers in nearly every lending category, even through the Great Recession. In fact, in…

Consumer LOS Upgrade Generates Big Gains for CU in Niche Markets

Consumer LOS Upgrade Generates Big Gains for CU in Niche Markets

Credit unions are coming full circle in the current business climate that favors those who drill deep into niche markets, rather than casting a wide but shallow net. Technology has enabled businesses to locate ideal customers, reach them where they live, and speak their language. That’s good news for credit unions like the $260 million…

LOS Technology Cultivates Healthy Auto and Consumer Loan Programs at MVFCU

LOS Technology Cultivates Healthy Auto and Consumer Loan Programs at MVFCU

The Alaska State Fair in Palmer, Alaska, is well-known for its giant vegetable exhibits, including a world record cabbage that weighed almost 140 lbs. and pumpkins that regularly top 1,000 lbs. Matanuska Valley FCU, also in Palmer, had similar goals five years ago: grow a large auto loan portfolio, according to Consumer Loan Manager Jaccie…

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…

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

New technology systems always make at least some employees feel apprehensive. That’s understandable; most people don’t like change. The $555 million Southwest Airlines FCU kept this in mind as it prepared to launch the Lending 360 loan origination system (LOS) two years ago. To minimize that fear, the Dallas-based credit union had its lending staff…

LOS Automation Allows Kings Federal Credit Union to Lend Large

LOS Automation Allows Kings Federal Credit Union to Lend Large

When credit union executives think of liquidity management tools, loan origination software isn’t typically the first thing that comes to mind. But that’s exactly how Kings Federal, a SEG-based credit union in Hanford, Calif., is using CU Direct’s Lending 360 loan origination system (LOS). Kings Federal is a robust auto lender, with auto loans representing…

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….