Customer Success Story
Florida Credit Union Improves Loan Decisioning With MeridianLink One for Data-Driven Efficiency
How Florida Credit Union Improved Loan Decisioning for Members & Staff
Headquarters: Gainesville, FL
Branch locations: 19
Members: 120,000+
Managed Assets: $2B
The Challenge
Simplifying, Automating Loan Decisioning
As a leading credit union in North and Central Florida that serves 48 counties, Florida CU prides itself on offering efficient, convenient products that meet the everyday and long-term financial needs of the communities they serve.
Florida CU has experienced significant growth over the years, and with that growth came an increase in loan applications across all categories. The credit union’s management team knew that providing a simple, consistent experience to their members, and closing more loans without loss in underwriting quality would require a more efficient, automated loan decisioning process.
The Solution
MeridianLink Reveal Pro & Custom Score Cards
Impressed with the integrated digital experiences the credit union implemented through MeridianLink® Consumer, MeridianLink® Opening, and MeridianLink® Portal, Florida CU relied on their partnership with MeridianLink to meet its needs for quick, easy loan decisioning.
Why Florida Credit Union Selected MeridianLink Reveal Pro and Custom Score Cards
Comprehensive analytics enable the credit union to make faster, data-centric decisions for more profitable loans within the risk appetite.
Critical systems consolidated into one platform for a more efficient and effective origination process.
A speedy, simplified approval process allows staff to focus less on underwriting and more on better serving their members.
The Results
Faster, More Accurate Decisioning
After using MeridianLink Reveal Pro to develop and implement the credit union’s Custom Score Card, Florida Credit Union was able to increase automatic approvals from less than 2% to 17.5% of total loans. The powerful capabilities of auto-decisioning, combined with data-driven workflows, has saved Florida CU considerable underwriting time, eliminating the need to review nearly 10,000 applications over 2 quarters.
On top of the loan decisioning efficiencies the credit union and its members experienced, MeridianLink One’s integrated digital portals support Florida CU in staying up to date on fraud and other industry trends.
Florida CU continues to leverage the benefits of centralized data and automation by saving time and money, all while enhancing their member’s experience.
