New Account, Membership Tools in Place at ORNL FCU
ORNL Federal Credit Union is now using a new online membership application and account opening solution from MeridianLink Inc., the company and credit union said.
The credit union has more than doubled its number of applications received online and has an approval rate of about 44 percent compared with the industry average of 30 percent to 35 percent since the July launch, said Melissa McMahan, vice president of remote services for $1.3 billion ORNL FCU in Knoxville, Tenn.
MeridianLink, based in Costa Mesa, Calif., said its multi-channel lending and account opening solutions are now in use by more than 400 credit unions and other financial institutions. More than 26,000 end users now use its enterprise business solutions that include Web-based credit reporting, the company said.