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America's Credit Union: Digital Pre-approved Loan Offers Expand Wallet Share

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15 March 2022

Winner of Celent Model Bank 2022 Award for Digital Lending

Abstract

America’s Credit Union transformed the way it provides consumer loans to its members. It previously sourced automobile loans through indirect (dealer) lending channel and internal loan processing was not fully automated. This gap in its lending capabilities resulted in lower quality loans, low loan approval rates, higher delinquency rates, and low loan portfolio growth. Moreover, its internal loan marketing capabilities were relatively undeveloped, so it could not fully serve member needs and manage/influence member loan inquiries and applications.

To solve these challenges, America’s Credit Union implemented CuneXus’ cplXpress loan automation platform to proactively deliver personalized, pre-approved loan offers. They also implemented Docusign for digital loan contract signing integrated with Fusion Laserpro digital loan documents and the LoansPQ loan origination system.