Simplifying the Online Loan Process to Meet Members’ Needs
Rogue CU went through three different Loan Origination Systems (LOS) before integrating MeridianLink Consumer. Their extensive experience with the loan application and approval system meant they understood precisely what they needed in a LOS. With MeridianLink Consumer, members can now apply for loans online and receive almost immediate approval. Before finding MeridianLink Consumer, it wasn’t rare for members to leave halfway through the loan application process. Now, most members apply for loans through the Rogue CU application portal, which makes the process remarkably simple. During the past year alone, Rogue CU saw an increase in online applications from 15-20 to around 100 per day. Handling hundreds of applications manually in a timely manner wouldn’t be possible without a massive loans department. However, integrating MeridianLink Consumer with MeridianLink Opening and the Portal add-on means the system can streamline the account opening and loan application process. Account specialists get all the information they need in a single document, which means they can make quick decisions when it comes to approving or denying loans.
After exploring several loan origination systems, the credit union’s lending management team decided to
move forward with MeridianLink® Consumer, part of the MeridianLink® One platform. The reason? An easy-to-navigate interface, a sleek look and feel for member-facing applications, and enhanced communication
capabilities to build and strengthen member relationships—all within a single location.