The $1.5 billion GTE Federal Credit Union said it recorded an average increase of 83% in monthly lending volume in the second half of 2011.
Three credit unions among 15 financial institutions visited online by "secret shoppers."
Online account opening pioneer Andera Inc. of Providence, R.I., has purchased oFlows Inc., a San Francisco-based provider of paperless origination solutions.
Prospective new members of Freedom Credit Union can now join the community credit union online.
CU says it's one of the first in southeastern Pennsylvania to launch the offering.
The trends and demographics surrounding online account opening as a delivery channel pose a real dilemma for smaller credit unions.
New solution allows new, existing members to complete process without mailing or bringing in identifications.
A hosted account opening antifraud solution has been added to the customer acquisition products offered by Andera Inc.
Online account opener says software detects fraudulent accounts before they're opened.