We are pleased to announce that America’s Credit Union, a Federal Credit Union, has been recognized by Celent (a global research and advisory firm focused on technology in financial institutions) for superior digital lending strategy, winning the the 2022 Model Bank Award for Digital Lending. The award is given to financial industry leaders who stand out in fintech and digital lending.
By listening to our 38,000 members, we found that we could do a better job of meeting their loan needs by expanding and improving our reach. Therefore, we took the opportunity to redirect our lending strategy to increase the number of loans we provide, and to develop more personalized relationships with our members.
Our talented development team produced a way to provide standing loan offers so that members can bypass the application process entirely, and receive financial products quickly.
Members can now find pre-approved offers in their mobile and online banking. Simply look for “My Offers” on the left-hand side of the menu of either platform. Once clicked, members will see various terms that may be approved for. These may include credit cards, auto loans home loans, etc. This provides members with the ability to shop with confidence!
Since launching, we have seen significant results, increasing loan redemption rates seven-fold, providing members with the loans they need in a timely and convenient manner. Troy Kyle, Chief Information Officer at America’s Credit Union explained, “The platform has allowed us to deepen our member relationships through personal connections. It allows us to provide members with ongoing insights into their personal buying power, with instant access to loans where and when they need them.”
Troy, and the entire ACU team, are extremely proud to receive this important fintech industry award. They are always looking for opportunities to enhance the experience of our members through fintech innovation, and we look forward to seeing what they come up with in the future.