HOUSTON—Credit unions using eCU Technology's ORIGINS Suite, which offers mobile-first membership, consumer loan and business deposit applications, experienced a significant increase in both loan and membership applications from March-April 2020, the company is reporting.
“Despite the challenges of COVID19, eCU Technology's credit union partners are continuing to drive loan and new member growth that exceeds the national average for the industry,” the company said. “Overall credit union industry trends through June 30, 2020, showed an annualized increase of only 6.6% in loans, creating an opportunity for credit unions to increase their lending market share with more robust digital applications.”
eCU Technology reported that its partner CUs from March through April increased digital loan apps by 60% and membership apps by 11%.
“As more consumers of all ages embrace digital solutions, it's critical for credit unions and community banks to offer a competitive digital experience. ORIGINS was designed to do just that and is uniquely positioned to assist depositories of all sizes,” said eCU Technology President Larry Hayes.
For more info: www.eCUtechnology.com.