Credit Unions Implement CU Direct’s Lending 360 System to Streamline Loan Originations

Best-in-Class Lending 360 LOS to Help Credit Unions Improve Efficiencies and Loan Processes for Increased Lending

Ontario, CA | June 30, 2016

Too remain not only competitive, but to improve member experience in applying for a consumer loan and opening a new account, and to drive more loans, credit unions are recognizing the need to get to “yes” faster.

Seven more credit unions have selected CU Direct’s ( Lending 360 Loan Origination System (LOS) to significantly improve the processes associated with originating, underwriting, and funding both new account and loan applications.

David Enertson, Consumer and Indirect Loan Administrator at WECU notes, “WECU chose Lending 360 because we wanted a way to enhance automation of our loan decisions, as well as integrate our indirect and in-house loans into one unified platform that seamlessly allows our in house pre-approvals to be seen by the dealers.”

An industry-leading complete loan origination system, Lending 360 offers dynamic features that streamline the entire loan application process, giving credit unions the ability to greatly enhance the loan officer efficiency and member experience. As a result, credit unions and CUSOs gain a true competitive edge by increasing efficiency and productivity.

The credit unions implementing Lending 360 are:

  • Endicott, New York’s Visions Federal Credit Union, (177,691 members, $3.75 billion in assets)
  • Portland, Oregon-based Advantis Credit Union (62,777 members, $1.2 billion in assets)
  • Bellingham, Washington’s Whatcom Educational Credit Union (WECU) (77,019 members, $1.2 billion in assets)
  • Livermore, California-based Operating Engineers Federal Credit Union (74,038 members, $963.5 million in assets)
  • Nashua, New Hampshire’s Triangle Credit Union (47,252 members, $572.4 million in assets)
  • Lowell, Massachusetts-based Align Credit Union (25,389 members, $553 million in assets)
  • Baltimore, Maryland’s Johns Hopkins Federal Credit Union (39,748 members, $373.7 million in assets)

“We scanned the market, looking for a scalable solution that aligned with our omni-channel vision for lending and new account opening – the goal being ease of use for both members and employees across mobile, online, branch, contact center and indirect lending.” states Tom Novak, eCommerce Solutions Manager at Visions Federal Credit Union. “CU Direct and their willingness to partner with a fintech provider in Gro has proven to offer an agile decision framework that allows us to adapt to rapid change and member expectations. We are enthusiastic about our future and the partnership with CU Direct and Gro to deliver a unique and innovative offering for lending and account opening. We believe this will propel Visions forward as an industry leader.”

The Lending 360 System’s powerful, and configurable, workflow engine provides credit unions with a single platform that automates loan application processing activity across all consumer lending channels.

“A great lending experience starts with ease of use; Lending 360 greatly simplifies the process for credit unions and their members,” notes Paul Kirkbride, senior vice president of CU Solutions at CU Direct. “We’re excited to be working with these new credit union partners, and helping them gain a competitive edge and greater market share by leveraging our platform’s capabilities.”

About CU Direct

For more than twenty years, CU Direct has been a lending technology leader, helping credit unions fund $211 billion in loans. More than 1,100 credit unions rely on CU Direct’s solutions to generate loans, create efficiencies, and grow membership. From CUDL, the industry’s number one auto lending platform, to the industry’s revolutionary Lending 360 Loan Origination System, and Lending Insights dynamic analytic tools, CU Direct develops the technology that helps credit unions advance their lending programs and overall portfolio success. 14,000 auto dealers nationwide use CU Direct’s automotive solutions to connect with credit unions and their members to drive sales and increase their bottom lines. For more information, visit Connect with CU Direct on Twitter and LinkedIn.