50% of Mass State Loan Apps Completed Online

CU*SOUTH, a credit union data processor, recently announced that it has aided Massachusetts State Employees Credit Union of Boston, Massachusetts, in achieving a new milestone – over 50% of the credit union’s monthly loan applications are now submitted online via It’s Me 247 online banking.

Bob McDonald, Executive Vice President of MSECU, says “The staff of CU*SOUTH has helped us grow our loan portfolio using CU*BASE, and our team at the credit union has done a great job of helping members take advantage of self-service options.”  MSECU uses CU*BASE as their core data processing platform, and takes advantage of an automated decision model developed by Grand Rapids-based Lender*VP, a division of CU*Answers, to speed the underwriting process and assist loan officers in making sure decisions are consistent with lending policy.

“It’s all about speed and convenience,” says CU*SOUTH’s CEO Leo Vaulin.  “If a member is shopping for a loan online, they’re going to pick the faster, easiest way to get a loan for financing.  We’re working with MSECU to deliver that loan approval quickly, to as many members as possible.”