Credit unions tapping MemberClose surpassing $2.5 billion in loans each year
MARLBOROUGH, MA (July 16, 2018) — During the past 24 months, credit unions tapping the power of MemberClose have posted some impressive numbers.
MemberClose, a software program empowering credit unions to save on the time it takes and the money it costs to process all types of equity loans, is being credited by nearly 200 credit unions for giving them the ability during that time period to process more than 60,000 loans, accounting for more than $5-billion.
Credit unions using MemberClose are located in 21 states across the US and range widely in asset size, from well under $10-million to more than $2-billion. The one thing that all these credit unions have in common is the need to gain efficiency and savings in the extremely competitive home equity lending marketplace.
“MemberClose helped make it possible for our credit union to offer equity loans to our members,” reported Judy Gilligan, assistant manager of Melrose First Federal Credit Union in Massachusetts. The credit union has $12-million is assets. “Lisa Costello provides great service whenever we need it, and the system is really easy to use. We’ve been using MemberClose for close to three years now and I can’t imagine making equity loans without it,” she said.
Lisa Roush, mortgage officer, at the $400-million Homeland Credit Union of Ohio noted that her credit union has been using MemberClose for about a year now. Roush said, “Home equity lending is an important part of our overall lending program. MemberClose helps our credit union with certain components of the loan process quickly, which saves us time and money while allowing us to better serve our members.”
According to Ray Del Nero, CEO of the $2-billion Merck Employees Federal Credit Union in New Jersey, the software program has increased efficiency. “MemberClose helps me achieve my goal of doing more with less. I’m a big believer in operational efficiency and MemberClose delivers on that front. My staff loves using the program because they can get everything they need to process a second mortgage or home equity loan from a single website.”
After reviewing the program’s success to date, MemberClose Chief Operating Officer Bob Delaney said, “It is satisfying to see such a wide range of credit unions using MemberClose and knowing that we are able to customize the program so that it meetings the specific needs of each one.”
For more information, visit www.MemberClose.com or call (888) 746-2476.
About MemberClose
MemberClose is a for credit unions only business that was launched in 2004. We currently serve over 200 credit unions located in 21 states and continue to grow. MemberClose is designed to deliver credit unions the most efficient end-to-end processing solution ... from credit to closing. Simply put, MemberClose saves on the time it takes and the money it cost to process all types of home equity loans. MemberClose also offers a Loan Guarantee Program (LGP) that allows a credit union to make more loans without additional risk. With MemberClose LGP the credit union can offer 100% LTV home equity loans. https://www.memberclose.com/
