CU Direct’s Lending 360 Loan Origination Platform Surpasses 100 Credit Union Milestone

Seven credit unions select CU Direct’s LOS technology to streamline loan originations, improve efficiencies and simplify the loan application process.

ONTARIO, Calif. – CU Direct, the nation’s leading lending technology and automotive solutions provider for credit unions, has announced that its Lending 360 Account & Loan Origination System (LOS) has reached a new milestone, as more than 100 credit unions are using the platform to drive both loan efficiencies and originations.

In reaching this milestone, CU Direct recently partnered with seven credit unions to implement the LOS.

As an industry-leading, comprehensive account and 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, driving more lending.

“Choosing to partner with CU Direct for the Lending 360 direct and indirect lending platform is more than just choosing a powerful loan origination system. CU Direct also opens doors to new strategic opportunities for credit unions,” stated Steve Owens, chief lending officer for Consumers Credit Union based in Kalamazoo, Michigan (84,003 members/$905.9 million in assets). “CU Direct’s lending solution provides us with a significant opportunity to increase our productivity, reduce operating expenses and improve efficiency. We will serve members with greater efficiency, and we will be partnered with a strong credit union centric CUSO,” concluded Owens.

“We are excited to be moving to the Lending 360 loan system and the efficiencies we will gain from the change,” notes Mike Fisher, senior vice president of lending/CLO, Air Force Federal Credit Union, San Antonio, Texas (41,874 members, $385.5 million in assets). “As we reviewed the vendors who submitted proposals, we constantly referred back to our primary goal of this process, which was to find a partner for the future that could provide us a robust loan origination platform, as well as provide the level of support that we need on an ongoing basis. In selecting Lending 360, we feel that we were able to accomplish our goals.”

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.

Additional credit unions that have recently implemented the Lending 360 LOS include:

• 1st Northern California Credit Union, Martinez, California (27,397 members, $675.9 million in assets)
• Members First Credit Union, Midland, Michigan (51,415 members, $411.5 million in assets)
• G.P.O. FCU, New Hartford, New York (28,606 members, $242.4 million in assets)
• Deer Valley Credit Union of America, Phoenix, Arizona (16,031 members, $225.5 million is assets)
• Eagle Community Credit Union, Lake Forrest, California (18,095 members, $224 million in assets)

“We’re excited to be working with these new credit union partners, helping them gain a competitive edge in the marketplace, and greater market share, by leveraging our platform’s capabilities,” said Brit Barker, vice president of credit union solutions at CU Direct. “Credit unions are recognizing the need to get to ‘yes’ faster, not only to remain competitive, but to improve the member experience throughout the loan application and approval process, and to drive more loans; Lending 360 gives our credit union partners that ability.”