King’s Federal Credit Union Cuts Loan Cycle & Scales Loans
With Coviance, King's Federal Credit Union cut the HELOC cycle to 15 days or less, scaled loans to 75, and increased loan totals by $4 million.
The demand for home equity lending is skyrocketing, and with a manual and disjointed process, King’s Federal Credit Union needed to simplify and automate the loan cycle. By turning to Coviance’s Home Equity ExpressTM platform, they:
- Cut the 30-60 day loan cycle down to 15
- Increased HELOC loan totals by $4 million in the first year
- Freed up the lenders’ time for more mission-critical activities
Check out our video testimonial with Richard Gosvener, VP of Lending: