Well-designed underwriting strategies are critical to creating more value out of your member relationships and driving growth for your business. But what makes an advanced underwriting strategy? It’s all about the data, analytics, and the people behind it.
How a credit union achieved record loan growth
Educational Federal Credit Union (EdFed) is a member-owned cooperative dedicated to serving the financial needs of school employees, students, and parents within the education community. After migrating to a new loan origination system, the credit union wanted to design a more profitable underwriting strategy to increase efficiency and grow their business.
EdFed partnered with Experian to design an advanced underwriting strategy using our vast data sources, advanced analytics, and recommendations for greater automation. After 30 months of implementing the new loan origination system and underwriting strategies, the credit union increased their loans by 32% and automated approvals by 21%.
“The partnership provided by Experian, backed by analytics, makes them the dream resource for our growth as a credit union. It isn’t just the data… it’s the people.” – Michael Aubrey, SVP Lending at Educational Federal Credit Union
Learn more about how Experian can help you enhance your underwriting strategy.