Customer Success Story
OUR Credit Union Finds a Faster, More Flexible Loan Origination System To Scale
How OUR Credit Union Upgraded Internal and End-User Experiences
Headquarters: Royal Oak, MI
Branch locations: 5
Members: 20,000+
Managed Assets: $350M
The Challenge
Finding a Faster, More Flexible Loan Origination System to Scale
OUR Credit Union (OURCU) provides financial services to individuals, families, and businesses, including personal, vehicle, recreational, credit card, some business, and HELOC loans throughout the state of Michigan.
OURCU was struggling with its previous loan origination system (LOS) due to its lack of flexibility, integration, and automation with software provided by its core solution at the time. The credit union wanted to enhance approvals and improve funding turn time, ideally by leveraging greater automation and direct integrations. Other providers were missing key components that were essential to OURCU’s strategy, making workflows and processes difficult for staff to navigate. In fact, OURCU forewent one platform that was already included in an existing vendor agreement because it was missing key components that the credit union relied upon.
The Solution
MeridianLink Consumer & MeridianLink Opening
OUR Credit Union selected MeridianLink® Consumer and MeridianLink® Opening due to their seamless navigation between modules and simplicity across tasks for all staff and members. With the MeridianLink platform, OURCU could easily measure branch and employee productivity, as well as consumer demand.
Why OUR Credit Union Selected MeridianLink Collect
Supercharged application processing due to seamless direct integrations that saved time and effort and allowed staff to focus on high-value tasks.
Maximum simplicity and efficiency in application processing due to automated features that save time and resources.
Enhanced ability to improve and expand offerings quickly due to the top-notch client support from MeridianLink and outside-of-the-box thinking, solutions, and support.
The Results
Efficient, Fast, Agile Application Processing
“Processing every kind of app is much more efficient than ever before.”
Investing in MeridianLink digital account and loan origination solutions allowed OURCU to easily shift its quality control measures to evolve with the credit union’s needs. Customization capabilities have enabled it to greatly reduce errors and facilitate data input pushes to the core, including automatically downloading an image of documents to the core imaging system for faster application processing.
The number of direct integrations—including from NADA values to real estate service providers (valuations, title, flood, etc.)—greatly improved the ease and speed of application processing. And integrations with DocuSign enabled e-signing which saved the entire team time and effort that can be spent focusing on high-value tasks.
Ultimately, OURCU increased approvals and funding turn times to boost efficiency, improve processing, and enhance the member experience.
