247 Lender is a CU*Answers-owned decision model that allows credit unions to provide automated loan approvals 24 hours a day, 7 days a week. To make this possible, CU*Answers partnered with the Portfolio Defense Consulting Group, a recognized expert in consumer credit risk management and modeling. Using data from CU*Answers’ owns clients, Portfolio Defense works with CU*Answers to develop a custom empirical model that is based on an actual sampling of varying sized, performing and delinquent credit union loans. Since the model is handled through CU*Answers’ online credit report partner, Zoot, they have been able to create a model that is bureau agnostic. For credit unions this means they can simply pull a credit report and a decision will be rendered.

CU*Answers continues to seek out partnerships that offer tools for credit unions to optimize procedures and streamline day to day processes while minimizing risk.