cuasterisk.com West Michigan-based CUSO, CU*Answers announces it now has two credits union utilizing its standalone web-based short-term loan origination tool, Retailer Direct: MicroLender.
CU*Answers and Lender*VP are leading a new initiative so that credit unions can begin offering Pay Day loans with very little start up time. MicroLender is an easy-to-use online loan servicing product designed to deliver a cost-effective CUSO delivered solution to meet the market driven need. By partnering with Prospera Credit Union, and their proven business model, GoodMoney, the two CUSO’s are able to offer branding and consulting services along with the origination tool.
According to CU*Answers, this is a win-win proposition for credit unions and their members, because credit unions can offer a more competitive fee structure on the loans while making it a profitable venture for the institution. Along with more reasonable rates, credit unions can help borrowers by providing access to financial education in their communities along with traditional financial services.
About the Partner
CU*Answers
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned CUSO providing services to credit unions representing nearly 1.5 million members and $10 billion in credit union assets. For more information, visit cuanswers.com.
Lender*VP
Lender*VP delivers to your credit union a team of experienced lending professionals that will take over the task of driving the success of your loan department. The Lender*VP team has years of on-the-street credit union lending experience, combined with an intimate knowledge of CU*BASE tools. We can make sure you know what products you need, get them off the ground quickly, and drive them to success.
