MCUL and WithClutch partner to increase responsible lending in Michigan
LANSING, MICH (April 1, 2024) — The Michigan Credit Union League (MCUL) announced it will partner with WithClutch, a fintech platform focused on allowing consumers to refinance high-interest consumer loans through an easy and digital process. With the partnership, MCUL will work to bring WithClutch to more credit unions.
Founded by fintech entrepreneurs Chris Coleman and Nicholas Hinrichsen, WithClutch helps credit unions better serve their members by leveraging lower rates via a user-friendly experience.
The software solution allows credit unions to identify high-interest loans that members hold outside the credit union and offer alternative loans reducing members’ interest rates and monthly payments.
“MCUL’s partnership with WithClutch is built on the shared belief that consumers should have access to responsible lending options that foster financial health,” said Renee Werth, EVP of League Services and MCULSC. “WithClutch will help Michigan credit unions’ goal of saving members money and, in turn, helping those members make decisions that put them on the road to financial growth.”
Through its fully automated process, credit unions can originate loans in minutes, reduce the burden on the loan officer and minimize paperwork and increase wallet share with existing members.
In partnership with TruStage, WithClutch specializes in transforming credit unions into forward-thinking fintechs. The company’s mission is to help Americans collectively save billions of dollars on their debt.
About Michigan Credit Union League (MCUL)
The Michigan Credit Union League (MCUL) is headquartered in Lansing, Michigan. The 187 Michigan credit unions, which hold $101 billion in assets, serve 60% of the state’s population. During the twelve months ending September 2023, Michigan credit unions provided its 6 million members with a total of $762 million in direct financial benefits.
About WithClutch
WITHCLUTCH, INC. is a technology company focused on building digital experiences for Credit Unions. The company was started in 2020 by serial entrepreneurs Christoper Coleman and Nicholas Hinrichsen. After graduating from Stanford’s Graduate School of Business in 2013, the founders started a digital car retailing company which Carvana.com acquired in 2017. In 2020, Chris and Nicholas left to start up again. The founders’ mission is help Americans save billions of dollars on their debt. Andressen Horowitz, CMFG Ventures and Curql Collective are among the most renowned backers of the entrepreneurs. For more information, visit withclutch.com.
