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Phone-based applications offered to support loan growth
ST. PETERSBURG, Fla. and ONTARIO, Calif. (1/28/10)--Financial Services Centers Cooperative (FSCC) and PSCU Financial Services Tuesday launched a new product, CIMple Loan by Phone. The solution can be implemented by any credit union, including non-Shared Branching credit unions, nationwide. The solution allows credit unions to take loan applications by phone. Any member can call 866-MY.CU.NOW to complete a loan application. They also can receive balance information and make account transfers. There is no monthly minimum payment for the service. Any credit union can promote the service by placing the phone number on its website. The credit union industry has originated 6.2% more loans year-to-date than during the same period in 2008, according to third quarter data from Callahan and Associates. The amount of outstanding loans has grown by 3.8% over the same period. FSCC, based in Ontario, Calif., offers a credit union Shared Branching network with 6,300 full-service deposit-taking locations in the U.S. and abroad. PSCU Financial Services, St. Petersburg, Fla., is a credit union service organization that serves more than 1,300 financial institutions nationwide.


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