GTE Federal Credit Union Realizes 83% Average Increase in Loans Funded

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Primarily due to the deployment of the MeridianLink loan origination platform in April 2011, GTE Federal Credit Union, in Tampa Bay, Florida, has recorded an average increase of 83% in lending activity during the last six months of 2011.

GTE Federal Credit Union appreciates the results they received in using MeridianLink’s automated system for loan origination. “We’ve been very pleased,” says Tina Narron, vice president of Member Consumer Lending for GTE Federal Credit Union. “We noted an average increase of 83% in lending activity during the last six months of 2011.”

GTE Federal Credit Union deployed the MeridianLink loan origination platform in April 2011, which was integrated with OSI, their core system. “The implementation was almost seamless, and the support from the MeridianLink team was phenomenal,” says Narron.

The MeridianLink platform can be integrated with virtually any core processor. “This is one of the areas where we have always excelled,” says Tim Nguyen, chief technology officer for MeridianLink. “We have the development muscle and experience to successfully integrate our platform with multiple core processors and numerous ancillary systems.”

The MeridianLink system was set up at GTE Federal Credit Union to allow non-members and members to apply for loans online, as well as handle all loan processing – whether indirect or in-branch. “This was part of a strategy to both improve our efficiency with direct and indirect lending and to cast a wider net and target a broader geographic area,” explains Narron. “We wanted to give consumers the ability to apply for a loan 24/7 from the convenience of their home, office – or wherever they were.”

GTE Federal Credit Union offers all of their loan products, except mortgages and HELOCs, through the MeridianLink system. This includes vehicle loans, credit cards, and secured and unsecured personal loans.

In addition to offering members ease and convenience, the MeridianLink platform also gives credit unions a huge cross sale advantage. “When someone applies for membership, the system is set up to read and integrate live credit data, which can be used to qualify and offer additional financial products – all automatically,” explains Edward Guerin, vice president of Credit Union Development for MeridianLink.

Over the last decade, MeridianLink has stood on the cutting edge of innovation in web-based software solutions for the financial industry. Important MeridianLink “firsts” include the development of the first web-based credit reporting system; the first web-based loan origination software (LoansPQ™) for all types of consumer loans; the first new account opening solution (XpressAccounts™), which can be used throughout a financial institution – in-branch, online and via call centers; the first end-to-end platform to automate and connect multiple financial services, from new accounts and deposits through loan processing, within one convenient system; and the first to offer an iPhone app.

About MeridianLink
MeridianLink, Inc., developer of the industry's first multi-channel account opening and loan origination platform, is a leading provider of enterprise business solutions for 20,000+ financial service organizations. The company’s passion for excellence is reflected in their web-based credit reporting, lending and new account opening/deposit technologies, which all enjoy solid reputations as being cutting edge, reliable and affordable. Based in Costa Mesa, California, MeridianLink is committed to creating “Smart Solutions” that deliver “Real Value.” For more information, visit http://www.meridianlink.com.

About GTE Federal Credit Union
Founded in 1935 during the Great Depression, GTE Federal Credit Union is one of the largest locally-owned and operated financial institutions in Tampa Bay, Florida, with $1.5 billion in assets. GTE Federal Credit Union serves individuals and businesses throughout West Central Florida. For more information, visit http://www.gtefcu.org.

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Branwyn Rhodes
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