CU*Answers Focus On Lending

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CU*Answers recently hosted its second Loan Delivery Focus Group meeting that included more than 40 CU executives. According to the company, the group is organized to seek out "Building Credit Union Loan Channels" in order to put credit unions at the forefront of every lending opportunity available to them.

"The purpose is to collectively brainstorm and enhance the CU*BASE loan platform with powerful new options and functionality" said Geoff Johnson, VP of Lending Products for CU*Answers. Additional solutions recently announced by the CUSO include:

CU*Answers purchase of a Loan Decision model, providing ease of set-up and significantly reduced pricing as compared to the national bureau models.

* Where Your Member Borrows-mining credit bureau report data for where members borrow and providing many new targeted marketing opportunities.

* Where Your Members Shop-mining credit card, debit card and electronic bill payment activity for better understanding member shopping preferences, dollars spent and more.

* Significantly reduced pricing for Credit Bureau reports accessed from national providers, providing savings as much as 50%.

* A new CU*BASE Escrow Payables system for easily tracking and distributing funds.

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