A dozen credit unions have signed on to implement Lending 360, an account and loan origination system from CU Direct, the Ontario, Calif.-based lending technology and automotive solutions provider for credit unions.
According to CU Direct, Lending 360 offers “dynamic features that streamline the entire loan application process,” which it said gives credit unions the ability to enhance loan officer efficiency and the member experience.
Joe Lilly, vice president of operations for $485 million Southwest Airlines FCU, which serves 49,776 members from its headquarters in Dallas, said in a statement, “We reviewed several lending platforms and came to the consensus that Lending 360 would be the best fit for us. We found it would provide a more seamless experience for the member and aid our staff in processing loans more efficiently. Additionally, the CU Direct staff has been very helpful from the first demo to post implementation.”
Stephanie Haskell, loan manager at $130 million Texas Tech FCU, Lubbock, Texas, said, “We rolled out Lending 360 within the last six months and already see major improvements in the amount of human errors and the speed at which we can decision loans. The decision engine is incredibly robust and is allowing us to build thousands of custom rules. Our project team at CU Direct has given us immense support and we cannot thank them enough for their ongoing commitment to credit unions.”
Texas Tech FCU serves 17,418 members.
Additional credit unions implementing the Lending 360 LOS are:
- Schools Financial CU, Sacramento, Calif., (132,082 members, $1.8 billion in assets)
- RTN FCU, Waltham, Mass., (46,599 members, $873.4 million in assets)
- Credit Union of America, Wichita, Kan., (60,706 members, $702.2 million is assets)
- Matanuska Valley FCU, Palmer, Alaska (41,790 members, $467.5 million in assets)
- Resource One CU, Dallas (56,166 members, $454.5 million in assets)
- Freedom of Maryland FCU, Bel Air, Md., (30,446 members, $289.2 million in assets)
- Great River FCU, St. Cloud, Minn., (14,300 members,$162.5 million in assets)
- First Bristol FCU, Bristol, Conn., (7,618 members, $87.9 million in assets)
- Las Colinas FCU, Irving, Texas (11,168 members, $71.2 million in assets)
- Employees CU, Dallas (6,297 members, $66.1 million in assets)
“CU Direct is committed to assisting credit unions improve their member experience through innovative technologies,” said Brit Barker, vice president of credit union solutions at CU Direct. “We are excited to be working with these new credit union partners.”
