A new automated account opening and loan origination platform has resulted in a 30% jump in new accounts at the $1.9 billion Keesler Federal Credit Union in Biloxi, Miss.
The 188,000-member credit union had been averaging about 1,375 new accounts per month prior to its May launch of a new accounts solution and the July launch of a loan origination and online opening solution, both from MeridianLink of Costa Mesa, Calif.
"Now we’re pulling in over 1,700 new accounts per month. In some months we’ve had as many as 1,800 new accounts," said Vicki Bush, branch operations assistant vice president.
Keesler FCU has 15 branches in the U.S., three in England and members around the world, Bush said, citing the platform’s ability to handle domestic and foreign addresses, as well as underserved populations and high school students. She said cross selling also has improved, as some new members came in or logged on to open new accounts and ended up with car loans.
MeridianLink said it now has about 450 credit unions running its online account opening and loan origination solutions.