Grow Financial Federal Credit Union selects Baker Hill NextGen® to drive business loan growth
CARMEL, IND (September 26, 2023) — Baker Hill, the leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, has added Grow Financial Federal Credit Union as its newest client. The credit union has chosen to partner with Baker Hill to grow its business loan portfolio.
Founded in 1955 and based in Tampa, Florida, with over $3.5 billion in assets, Grow Financial serves more than 250,000 members with 26 locations across Florida and South Carolina. Whether it’s helping people save money, managing day-to-day expenses or promoting financial literacy, Grow aims to help members within their local communities succeed and prosper.
To empower business members to thrive financially, Grow has chosen Baker Hill NextGen® Small Business Loan Origination to streamline its business lending process. Prior to Baker Hill, the credit union was burdened with manual workflows and multiple legacy systems that made it difficult and more time-consuming to respond to and process loan requests for business members. By implementing Baker Hill NextGen® Small Business Loan Origination, Grow can process more business loan applications with greater accuracy and consistency, and optimize its business loan portfolio for growth.
“We know small businesses form the bedrock of our local communities. As a local business ourselves, we’re here to help businesses grow through personalized banking services that meet the needs of business owners,” said Thomas Feindt, president and CEO of Grow Financial. “To achieve this and to continue offering competitive rates and financing options for the businesses we serve, we recognized the need for a new loan origination system. We look forward to working with Baker Hill to create a better lending experience for our valued business members.”
“Credit unions often have deep ties with the communities they serve, especially with local businesses, and Grow Financial is no exception,” said John M. Deignan, president and CEO of Baker Hill. “The team at Grow clearly takes pride in the relationships they’ve built with members and with Baker Hill NextGen®, their team can continue nurturing relationships with businesses throughout the West Central Florida and South Carolina markets. Baker Hill is proud to partner with such a reputable, community-focused institution.”
About Grow Financial Federal Credit Union
Grow Financial Federal Credit Union is a not-for-profit working for the benefit of members in our communities, not the pocketbooks of corporate stockholders. Established in 1955 to serve the military and civilian personnel of MacDill Air Force Base in Tampa, Florida, Grow Financial has since expanded to provide a comprehensive array of personal and business banking services to more than 250,000 members, with 26 neighborhood stores in West Central Florida and South Carolina. Learn more at growfinancial.org.
About Baker Hill
Baker Hill is in the business of evolving loan origination by combining expertise in technology with expertise in banking. Built on decades of walking alongside banks and credit unions as they provide vital resources to their communities, Baker Hill NextGen® is a configurable, single platform SaaS solution for commercial, small business, consumer loan origination, and risk management that grows along with you as your business needs change. Baker Hill is lending evolved. For more information, visit bakerhill.com.
