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Credit union users of LEVERAGE Payment Solutions will soon be able to roll out a new loan payment app to their members thanks to a new partnership between the organization and CheckAlt, a Los Angeles-based payment processor.
The card processing organization serving Southeastern credit unions, which is a part of LEVERAGE, a for-profit subsidiary of the League of Southeastern Credit Unions, said Monday that its relationship with CheckAlt will give its credit union clients access to LoanPay, CheckAlt's secure online payment app that offers simple integration, configurable features and flexible payments.
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Benefits to credit unions utilizing CheckAlt, according to LEVERAGE Payment Solutions, include application programming interface (API) capabilities that allow for a direct integration into a credit union's core system, enabling the credit union to streamline the tasks of processing consumer loan payments and settling funds into a "one-stop shop for payment processing."
On the member-facing side, LoanPay allows users to set up a personalized payment schedule and issues regular communication to users regarding their account. In addition, the app will soon accommodate interactive voice response payments via phone, LEVERAGE Payment Solutions said.
"LoanPay will enable our credit unions to accept loan, mortgage and credit card payments through a fully-hosted web platform, creating a more efficient processing option and in turn, increasing customer satisfaction," Steve Willis, president of LEVERAGE, stated. "As credit unions continue to adapt to a world in which many things have moved online, it is of utmost importance that they have the means to serve their customers. This new partnership provides customers with the opportunity to pay loans online from the comfort and safety of their homes."
CheckAlt serves more than 1,000 clients across a number of industries, including hundreds of financial institutions.
This is the second technology provider partnership announced by LEVERAGE this summer. In July, it teamed up with Glia, a New York, N.Y.-based provider of digital customer service solutions, to offer a new Digital Member Service platform to its more than 500 credit union clients.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
