West Michigan based CUSO, CU*Answers, announced its Lending Management Platform (Lender*VP) is taking an active role in guiding many credit unions to improve results in their lending operation. The current economic downturn has proven to be a challenge to banks, leading to drastically tightened credit offerings in the marketplace. As a result, many Americans are looking to credit unions for their borrowing needs. Lender*VP said it will assist clients in navigating the credit markets and help stabilize their balance sheet. By providing necessary lending tools, participating credit unions can gain a competitive edge in the financial industry.
CU*Answers said credit unions must embrace the values of a credit union system and recognize the benefits of the shifting markets. They are then positioned to prove that credit unions are the best solution for financial services for members and prospective members. CU*Answers went on to say Lender*VP offers a unique combination of lending tools for credit unions who are already using CU*BASE software as its core-process system. Features of Lender*VP are numerous, some of the noteworthy include:
- 247 Lender: Round-the-clock loan factory. This tool provides 24/7 access to loan information, requests, applications, and approvals. 247 Lender never sleeps.
- Credit Card Options
- Real Estate Solutions: A web based mortgage application that functions as part of CU*BASE
- Retailer Direct: Credit Unions forge relationships with trusted retail business partners. Loan applications are electronically delivered from any partner location.
- Pay Day Lending: Members get the benefit of Pay Day Advance loans without the negative lending practices common to predatory lenders.