Loan Origination Systems Articles
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
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
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…
Affinity Plus CU’s Approach to Innovation in Lending
Lending is top priority for credit unions who wish to thrive in today’s market, and to do so, innovative practices are key. The faster a credit union is able to originate and approve a loan, the more loans they will fund. Discover how Affinity Plus Credit Union– the recipient of CU Direct’s 2018 Innovation in…
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
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….
Is Technology Sprawl Ruining Your Member Lending Experience? (Part 2 of 2)
Technology has expanded our ability to do more things with greater ease, but has it really made us, as lenders, more efficient? In part one of our two-part article series, we discussed in detail the four ways to effectively fight lending technology sprawl. Now, let’s look at the keys to implementing the right loan origination…
Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)
How many systems, both digital and manual, do your members and employees have to navigate before booking a loan? The answer may surprise you, and provide some critical insight if your credit union isn’t meeting its loan growth goals. What is Technology Sprawl? Tech sprawl isn’t just a lending problem or even a financial services…
How LOS Efficiency Helped Elevate Trailhead CU to New Heights
When Justin Olson joined Trailhead Credit Union in 2013 as vice president of member services, the credit union was facing an uphill climb. With a loan-to-share ratio of just 59 percent and on a steady monthly decline, the $120M credit union was originating around $1 million per month in 2013. That wasn’t enough to improve…
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….