First Atlantic FCU Opts For MeridianLinks Loan Originations Solution

Published May 18, 2010, 6:36 p.m. EDT

|

Updated August 26, 2020, 11:59 p.m. EDT

1 Min Read

EATONTOWN, N.J. – First Atlantic FCU has added MerdianLink’s automated loan origination system for origination and processing.

Processing Content

The $225 million credit union has deployed MeridianLink’s LoansPQ platform to automate the origination and processing for consumer loans.

“I think from our members’ perspective, MeridianLink is not materially different from the previous system we were using,” explained Anthony Fedina, SVP of operations and lending at First Atlantic. “But from an internal viewpoint, the difference is huge. The MeridianLink system is much more user-friendly and offers more favorable pricing. We’re able to process the same amount of loans for less money.”

MeridianLink is based in Costa Mesa, Calif.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Cyber security

ECB tells banks to speed tech fixes as AI shrinks the clock

The eurozone's top bank supervisor is the latest to act on artificial intelligence's impact on cyber risk, even as U.S. regulators set no formal expectations.

By Carter Pape
Technology Reporter

1m ago
AB - Policy & Regulation

Fed's Bowman willing to look through war-driven inflation bump

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she believes price growth is still heading toward the central bank's 2% target when factoring out one-time shocks such as tariffs and elevated oil prices.

By Kyle Campbell
Staff writer

2h ago
Regulation and compliance

Why trust charters brought crypto companies into the fold

Cryptocurrency companies have rushed to apply for national trust charters from the Office of the Comptroller of the Currency during the second Trump administration after remaining on the sidelines for years. Experts say the trust charters offer them scale, Fed access and legitimacy without the full regulatory burden of traditional banks.

By Ebrima Santos Sanneh
Reporter

6h ago
Earnings

Strong U.S. results drive bottom line growth for TD

Though compliance spending remains an issue, the Toronto-based company reported linked-quarter loan growth in the U.S. and expects the trend to accelerate.

By John Reosti
Reporter

May 28
Politics and policy

Bank trades push court to consider Illinois swipe fee law

Trade groups challenging an Illinois state law barring interchange fees on taxes and tips are urging a federal judge to rule by June 3 ahead of the law's July 1 effective date.

By Claire Williams
Reporter

May 28
Earnings

RBC lowers provisions, even amid uncertainty from tariffs and war

Canada's largest bank beat Wall Street's expectations in the second quarter. But some analysts were puzzled by RBC's decision to shrink its provisions for credit losses at the same time as its executives were acknowledging "elevated" macroeconomic uncertainty.

By Nathan Place
National Reporter

May 28

Load More