Customer Success Story
Canyon View Credit Union Builds a Faster, More Efficient Application Process
How Canyon View Credit Union got approval times down to an average of 10 minutes and created better user experiences with the MeridianLink One platform.
Headquarters: Salt Lake City, UT
Branch locations: 22
Members: 110,000+
Managed Assets: Approx $1.6B
The Challenge
Removing Lingering Inefficiencies
Since its humble beginnings in 1956 serving University of Utah employees, Canyon View Credit Union has since grown to serve members across the state of Utah with personal and business banking services alongside numerous loan products. Canyon View Credit Union has trusted MeridianLink® for over a decade to simplify its digital lending process and create a modern user interface to support staff in creating the best member experience possible. But with a few outdated systems still in place—leading to issues including manual decisioning and inefficient workflows—the credit union decided it was time to return to MeridianLink to see how they could solve these remaining challenges.
The Solution
MeridianLink One
Canyon View Credit Union decided to add three more products to its MeridianLink® One platform—MeridianLink® Consumer, MeridianLink® Opening, and MeridianLink® Portal—to create further efficiencies and a smoother user experience.
Why Canyon View Credit Union Selected MeridianLink One
Boost engagement & deepen member relationships with cross-sell capabilities.
Reduce manual processes & get accurate decisions faster with auto-decisioning.
Minimize tedious data entry & choppy workflows with a streamlined interface.
The Results
Elevated Processes & More Underwritten Loans
Canyon View Credit Union adopted solutions for its consumer lending and account opening processes—MeridianLink Consumer and MeridianLink Opening, respectively—along with MeridianLink Portal to create a more efficient and intuitive application flow. With upgrades including web-based loan applications, automated decisioning, and access to underwriting metrics that render manual credit pulls null and void, the credit union has been able to drastically improve member and staff experiences for numerous services.
Now, loan approvals take an average of 10 minutes, allowing staff to move through applications faster and at a higher volume without causing a strain on resources or time. In fact, some members received their funds within just one hour of approval; and with accurate, automated processes now in place, Canyon View Credit Union can spend less time combing through applications for errors with a system designed to catch any issues along the way. Within three years of implementing these upgrades, the credit union’s loan volume has ballooned to over $1.3 billion while its assets have increased from $1 billion to $1.6 billion.
