Educational Community Credit Union selects nCino to expand commercial lending services
Credit union expects to create new efficiencies, further grow commercial lending presence with help of business cloud banking platform
WILMINGTON, NC (June 2, 2015) — nCino, the leader in secure, cloud-based operating solutions to the financial services industry, has announced Michigan-based Educational Community Credit Union (ECCU) as its newest customer.
In the last year, the $419 million credit union began strategically building out a commercial loan department, recognizing these products’ potential as an enterprise growth opportunity and benefit for business members. This responsibility was placed on Kenny Leonard, a commerical lending veteran recruited for his knowledge of the intricacies involved with offering these loans. Leonard, vice president of commerical loan services, knew that ECCU’s member business lending program could not effectively expand without technology that equally supported member service, efficiency and risk management. He turned to nCino’s Bank Operating System to accomplish it all.
“nCino’s cloud-based platform handles everything from prospecting and pipeline management to the servicing of the loan,” said Leonard. “By staying within a single platform, and not having to jump between several systems or worksheets, we will drastically streamline each loan’s workflow and how we as an institution manage risk and reporting.”
ECCU’s commerical activity was previously rolled into the consumer lending group; it is now an independent department with four employees and a portfolio that quadrupled in its first year. Leonard’s team expects nCino’s Bank Operating System to help maintain this growth as well as propel it forward at a faster rate. The platform will allow ECCU to remove manual tasks and formalize all processes to achieve greater productivity, all without adding back office resources.
Pierre Naudé, CEO of nCino, stated, “More credit unions are getting into the member business lending arena, and the time is ripe for them to experience tangible portfolio gains. They can achieve their desired results more quickly with the right technology. Our credit union customers are equipped with an intuitive platform that streamlines the completion and movement of loan files without sacrificing process governance, meaning their member business borrowers receive quicker, higher quality approvals on the financing they need.”
nCino customers on average experience a 22 percent increase in staff efficiency following implementation. Its Bank Operating System uniquely combines essential loan origination functions with member relationship management, business process workflows and reporting dashboards to simplify and expedite the entire lending process.
About Educational Community Credit Union
Established in 1935, ECCU is a leading provider of customized financial solutions for consumers and small to medium-sized businesses spanning a 21-county area in southwest Michigan. Ranked in the top three of credit union SBA lenders in Michigan*, ECCU exceeds $419 million in assets and serves more than 37,000 members. Visit eccu1.org to learn for yourself why ECCU just feels right, and our members feel right at home.
* SBA Michigan District Office – Fiscal year Q2 data
nCino is the leader in cloud-based operating solutions for the financial services industry. Through its Bank Operating System, nCino leverages the power and security of the Salesforce platform to deliver a complete banking solution. Dedicated to transforming financial services through innovation, reputation and speed, nCino’s technology enables financial institutions of all sizes to expand market share, adapt to meet regulatory compliance, drive profitability and optimize operational transparency. Founded in 2012, nCino is headquartered in Wilmington, N.C. For more information, visit www.ncino.com or follow us on Twitter: @nCino.