Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RANCHO CUCAMONGA, Calif. – CU Direct Corp., administrator of the Credit Union Direct Lending and DecisionApp systems, and Elgin, Ill.-based Lending Solutions Inc., have partnered to provide CUs with 24/7 underwriting. CU Direct’s new relationship with LSI addresses the loan approval process for the applications that don’t receive automatic approval from the member’s CU by helping them make quick decisions on alternative loan options that allow CUs to keep the loan with them. “While automated software helps our clients meet dealer demands of time and convenience, today’s sophisticated, automated technology is still unable to address every loan application,” said LSI President/CEO Lee Kolquist. He added that “LSI complements this technology by providing qualified underwriting services that mirror a credit union’s lending guidelines and respond quickly and accurately to the dealer in these situations.” LSI says it provides manual underwriting decisions within 15 minutes for those applications not automatically approved through DecisionApp or CUDL. CU Direct SVP and COO Jerry Neemann says the “collective effort will add value and strengthen credit unions’ ability to capture more lending business.” The first credit union to take advantage of the new CU Direct/LSI alliance was LA Financial FCU, Pasadena, Calif.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.