Randolph-Brooks Federal Credit Union in Live Oaks, Texas, announced Friday that it has chosen tech vendor Andera's online account opening and lending software.
The $5 billion-asset credit union said Andera's oFlows technology will help it bolster its online offerings and improve its chances of attracting new customers.
"About 80 percent of those who join through the online channel also sign up for a checking account right away," Randolph-Brooks' chief information officer, Mary O'Rourke, said in a press release.
She added that credit union customers who join online are also 49 percent more profitable than those who enroll through traditional means. "They maintain a higher loan-to-share ratio of 467 percent versus the 120 percent of traditional enrollees," O'Rourke said in the release.
Randolph-Brooks' membership is drawn from the employees of the roughly 2,000 groups and several community charters it serves in San Antonio and Austin.
