Customer Success Story

Smashing Membership & Portfolio Records MeridianLink One Solutions

How APL Federal Credit Union achieved record-breaking milestones in new membership and consumer lending with MeridianLink® Consumer and MeridianLink® Opening.

Headquarters: Laurel, MD
Branch locations: 3
Members: ~29,000
Managed assets: ~$625 million

The Challenge

Slow Processing Times & Tedious Workflows

APL Federal Credit Union (APL FCU) provides checking account services and a variety of loan options to members across Howard County, MD. However, inefficiencies throughout its then-current account and loan origination platforms were preventing the credit union from realizing its full potential. From siloed data and processes to tedious application flows, APL FCU was ready for an upgrade.

We’ve noticed a great efficiency improvement in processing membership applications and loan applications. And we’ve also noticed an increase in loan volume and new membership … New membership volume was about 10% higher than our [previous] best year ever.

Michael Gough

VP of Operations,
APL Federal Credit Union

The Solution

MeridianLink® Consumer & MeridianLink® Opening

APL FCU adopted the MeridianLink® Consumer and MeridianLink® Opening solutions—part of the MeridianLink® One framework—to create the option for individuals to complete combined loan and account applications, as well as to create smoother workflows for staff.

Why APL FCU selected a MeridianLink One Solution

Combo application options allow individuals to easily apply for loans and new accounts from a single location.

Ample third-party & core integrations minimize disruptions upon adoption and help facilitate a smooth user experience.

Streamlines workflows thanks to advanced automations, customizable configurations, and greater data transparency designed to support staff and members alike.

The Results

Quicker, Smoother Applications & User Experiences

With MeridianLink Consumer and MeridianLink Opening, APL FCU now processes consumer loans and new accounts within a central location under MeridianLink One. This has given individuals the option to fill out combination loan and new membership applications for faster processing and, as a result, better service. In its first full year with Consumer and Opening, the credit union had its strongest year to date, processing just
over 3,000 membership applications for a new membership volume 10% higher than APL FCU’s previous best year; staff processed just over 5,000 loan applications in this same time frame, which translated to a loan volume 20% higher than the credit union’s previous record.

Alongside the efficiency gains from the combination application, APL FCU has been better able to serve members and quickly process applications thanks to robust automations and customizations designed to create a streamlined user experience without sacrificing accuracy. The credit union also partners with several third-party vendors that help simplify application processes: Staff use DocuSign to send relevant documents to applicants who can then securely sign and return these items digitally; Nautilus® from Fiserv helps the credit union manage all documents; and Eltropy SMS text messaging platform helps members resolve common issues and get the answers they need while cutting call center volume by roughly 30%, offsetting a portion of the support team workload. Together, each of these integrations and features has helped the credit union create a smoother workflow and a significantly improved member experience.

APL Federal Credit Union Saved Time Without Sacrificing Security