SANTA BARBARA, Calif.–MoveCU Inc., which describes itself as a credit union fintech, said it generated 330 direct auto loan approvals for Market USA FCU within the first 45 days of their partnership.
The $114-million Market USA FCU has approximately 18,500 members and is based in Laurel, Md.
The company said the volume of loans made during January represented a record-setting month for the credit union in originations for both new and used auto loans, and that the partnership has since expanded to include auto loan refinance, personal loans and credit cards.
"MoveCU has taken our auto loan originations to a new record high," said Gregory Edwards, lending manager of Market USA FCU, in a statement. "The team at MoveCU has a great vision for the credit union industry. We're excited to enter into new product categories with their support."
To date, MoveCU said it has integrated with the largest loan origination systems in the country, which grants credit unions seamless access to their platform.
"Our software is modular and highly scalable," said Kevin Dawson, chief technology officer and co-founder of MoveCU, in a statement. "It allows us to enhance credit union distribution by deploying a platform that is both consumer- and credit union-friendly."
MoveCU said it has:
- Integrated with all major loan origination systems
- Partnered with MD|DC Credit Union Association
- Integrated with Experian, TransUnion and Equifax