Customer Success Story
Kirtland CU‘s Easy-To-Use Network of LOS Integrations Boosts Loan Volume & Efficiency
How MeridianLink® Consumer Created Positive Outcomes for Kirtland Credit Union
Headquarters: Albuquerque, NM
Branch locations: 8
Members: 51,000+
Managed Assets: $1B
The Challenge
Finding a Streamlined, Consistent Lending Experience
Kirtland Credit Union (KCU) is a not-for-profit financial cooperative serving the community of Albuquerque, New Mexico, with checking, savings, investing, loans, mortgage, and more, all backed by the latest technology and accessibility
When KCU was updating its core system, it also began the process of searching for a new loan origination system (LOS) that would allow the credit union to reach maximum efficiency and customize its lending experience to meet the needs of its members. Kirtland Credit Union decided on MeridianLink® Consumer as it provided them with a consistent lending experience and instant approval system that allowed loans to be funded more quickly.
The Solution
MeridianLink® Consumer
MeridianLink® Consumer provided KCU with hundreds of third-party integration options through its expansive Marketplace of partners—all of which were already built into the system and ready for integration. KCU was surprised to learn how quick and easy the implementation process was and how much time was saved using the direct connections between MeridianLink® Consumer and these third-party integrations.
Why Kirtland Credit Union Selected MeridianLink® Consumer
Reduction in funding time from 42 days to a speedy 25 due to seamless direct integrations with Coviance® (formerly known as LenderClose).
Increased loan volume due largely to its pre-qualification capabilities powered by the integration with Harland Clarke.
Enhanced ability to improve and expand offerings quickly allowed KCU to implement an integration with Allied Solutions GAP and Mechanical Breakdown insurance in just 60 days.
The Results
Streamlined Lending Improves Staff & Member Experience
Third-party integrations have helped Kirtland Credit Union create an easy-to-use system for its front-line staff and underwriters. Three integrations that have been particularly beneficial for KCU are:
Coviance
The integration between Coviance and MeridianLink Consumer has generated positive outcomes for KCU, particularly around efficiency and time savings. The powerful integration enabled seamless data and document flow, helping to create an all-around easier lending process that reduced funding time from 42 days to just 25 days. This integration saved the credit union time, money, and improved the member experience.
Harland Clarke: Loan Engine™
The integration of Harland Clarke’s Loan Engine to MeridianLink® Consumer allowed KCU to create a simple way to power loan programs through single sign-on. Since Harland Clarke’s Loan Engine provides a fast, proven way to prescreen and offer new loans at all once, this integration made it easy for the credit union to pre-qualify and offer instant approvals through online banking, resulting in increased loan volume.
Allied Solutions
KCU recently expanded its lending offerings to include Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection (MBP) Insurance from Allied Solutions. The implementation process was simple, consisting of about 60 days of thorough testing. Now KCU’s front-line staff can easily provide member quotes using the single sign-on, empowering the credit union to attract new lending opportunities, add value to its lending options, and enhance member service.
