ST. CLOUD, Minn. - Bankers Systems has partnered with Salem Associates to bring expanded business lending documentation to credit unions. Norcoss, Ga.-based Salem Associates, an IT technology firm, now offers its credit union clients that utilize its Lending Automation and Processing System (LAPSr) an interface to Bankers Systems' Rembrandtr Lending System, which helps credit unions and (CUSOs) produce business lending documentation. The interface between LAPS and Rembrandt Lending eliminates a credit union's need to rekey member data, saving time and improving accuracy, according to the firms. Salem Associates' LAPS provides management with complete control over the credit union's commercial, construction, real estate, and retail lending cycles - including the loan origination and application processes, risk management, spread analysis, decision making, pricing, and loan participation. The LAPS Construction module allows credit unions to originate multiple construction projects for a single member, plan construction budgets, manage draws, issue construction lines of credit, evaluate property's debt service, perform rent roll analysis, and numerous other features to manage every aspect of a construction loan.
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From the August-03, 2005 issue of Credit Union Times Magazine • Subscribe!
Bankers Systems Partners with Salem Associates
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