CU Direct has announced the sale of its Lending 360 origination system to seven new credit unions representing 510,386 members and $8.6 billion in assets.

Lending 360 attaches to the credit unions’ back-office operations and applies their existing rules, rates and lending criteria to each member’s loan request. The system has a means of quickly and accurately verifying the applicant’s income, loan history and credit ratings so that approvals can be made within a day or two, instead of several days or a week, according to Bill Meyer, communications/public relations lead for CU Direct, a CUSO based in Ontario, Calif. — just east of Los Angeles.

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Jim DuPlessis

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