Customer Success Story
CAMPUS USA Credit Union Achieves 14% Annual Loan Portfolio Growth with Enhanced Automated Decisioning
How CAMPUS USA Credit Union Increased Automated Decisions & Approvals
Headquarters: Gainesville, FL
Branch locations: 20
Members: 140,000+
Managed Assets: $3.2B
The Challenge
Enhancing the Loan & Account Origination Experience
CAMPUS USA Credit Union (CAMPUS) aims to be the financial institution that members choose first and offers a wide range of digital banking services, from personal and business checking accounts to loans, credit, investments, and insurance.
CAMPUS sought to stay competitive by reducing tedious manual workflows, increasing account opening and loan closing efficiency, and enhancing the member experience with the ability to provide personalized offers to members at the right time.
The Solution
MeridianLink® One
CAMPUS chose MeridianLink® Consumer, MeridianLink® Opening, and MeridianLink® Consulting, all part of the MeridianLink® One platform. This combination of solutions helped the credit union deploy a custom score to its automated decision engine, increasing the volume of applications reviewed and the percentage of approved applications over five years.
Why CAMPUS USA Credit Union Selected MeridianLink® One
Custom scorecard enabled a transition to 70% automatic decisioning in the indirect lending department.
Instant approvals rose 46% due to automated decisioning supported by the custom scorecard and more efficient processes.
Grew the loan portfolio by 14% year-over-year for the past three years
The Results
Enriched Analytics Boosts Approvals, Efficiency, & Growth
CAMPUS USA Credit Union used MeridianLink® Consumer, MeridianLink® Opening, and MeridianLink® Consulting to enhance its analytics capabilities, streamline account opening and loan closing processes, and optimize automated decisioning.
The MeridianLink® One ecosystem allowed CAMPUS to expand and fine-tune its offerings while progressing on its digital path with personalized member offers and enhanced cross-selling opportunities. Automated workflows and smooth integrations enabled CAMPUS to provide a faster experience for members opening accounts and/or applying for loans.
The direct lending program saw an increase in total applications reviewed by the engine from 18% in 2020 to 23% in 2023. Of the applications reviewed, 63% were approved in 2020 — a number that jumped to 83% by 2023. The credit union experienced a 14% annual increase in the consumer loan portfolio, an increase CAMPUS greatly attributes to the custom score. Moreover, the credit union saw a 46% jump in its portfolio for instant-approved loans.
