3Rivers Federal Credit Union Taps MeridianLink to Enhance Member Experiences and Offer Frictionless Digital Lending and Account Opening

Rhea-AI Summary

3Rivers Federal Credit Union has successfully implemented MeridianLink's digital lending and account opening solutions, part of the MeridianLink One platform. This collaboration streamlined lending processes, reducing application times from two days to two hours, and improved member experiences. The credit union can now offer multiple products within the same application, enhancing operational efficiency and product adoption. MeridianLink's configurable solutions have enabled 3Rivers FCU to customize workflows, allowing employees to better support and create personalized solutions for members.

Positive

• Reduced loan application times from two days to around two hours.
• Increased operational efficiencies and personalized banking experiences.
• Enhanced product adoption through offering multiple products in one application.
• Improved member experience leading to more completed applications and loan conversions.

Negative

• None.

Implementation of MeridianLink One leads to shorter processing times, increased operational efficiencies, and more personalized banking experiences

COSTA MESA, Calif.--(BUSINESS WIRE)-- MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced 3Rivers Federal Credit Union (3Rivers FCU) successfully implemented MeridianLink^® Access and MeridianLink^® Opening to streamline its lending and account opening processes. These offerings are part of MeridianLink^® One, the Company’s multi-product platform that helps banks and credit unions advance their digital progression and accelerate growth.

“Prior to working with MeridianLink, we found it challenging to get complete applicant information through our existing application portals, leading to longer processing times. However, with the adoption of the MeridianLink platform, we quickly optimized our processes, which led to an increased number of completed applications and loan conversions,” said Logan Amstutz, share manager at 3Rivers FCU. “We were able to cut down loan application times from two days to around two hours, improving our member experience, freeing up valuable time for our team to better serve more members, which is our ultimate goal.”

Using MeridianLink’s highly configurable point-of-sale solution for account opening and loan origination, MeridianLink^® Access, the Fort Wayne, Indiana-based credit union can now customize workflows so its employees can spend more time directly supporting and creating personalized solutions for members. In addition, MeridianLink^® Opening allowed the credit union to offer multiple products within the same application, enabling members to easily opt in to additional offers. This has not only improved efficiencies for members and credit union employees but also created growth opportunities through increased product adoption.

“We’re proud to be part of the digital progression of 3Rivers FCU, and seeing how their investment in MeridianLink One has helped them improve the entire member experience is incredibly rewarding,” said Devesh Khare, chief product officer at MeridianLink. “It’s an honor to be their trusted technology partner, and we are pleased to help our customers offer more tailored and efficient application processes, customized workflows, and streamlined account opening. We love to assist our customers to provide award-winning digital experiences that fuel growth and deepen member and customer relationships, lifting the consumer experience and improving the industry as a whole.”

For more information about MeridianLink’s innovative solutions, visit the Company’s website.

About MeridianLink

MeridianLink^® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification solutions leverage shared intelligence from a unified data platform, MeridianLink^® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.

For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.

ABOUT 3RIVERS FEDERAL CREDIT UNION

Since 1935, 3Rivers Federal Credit Union has been empowering their community to achieve financial wellness by offering personalized service, tools, and education. The member-owned, not-for-profit cooperative has $2.4 billion in assets, more than 115,000 members, 24 branches, and nearly 500 employees. 3Rivers offers a wide range of financial solutions, in addition to trustworthy, lifelong guidance and relationships. For more information, visit 3riversfcu.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620617132/en/

PRESS CONTACT

media@meridianlink.com

Source: MeridianLink, Inc.

FAQ

What impact did MeridianLink's platform have on 3Rivers FCU's loan application times?

MeridianLink's platform reduced 3Rivers FCU's loan application times from two days to around two hours.

How did the implementation of MeridianLink solutions affect 3Rivers FCU's operational efficiency?

The implementation of MeridianLink solutions increased 3Rivers FCU's operational efficiency and allowed for more personalized member experiences.

What is MeridianLink's stock symbol?

MeridianLink's stock symbol is MLNK.

What benefits did 3Rivers FCU gain from using MeridianLink Opening?

3Rivers FCU was able to offer multiple products within the same application, improving efficiencies and creating growth opportunities through increased product adoption.

How does MeridianLink's platform help financial institutions?

MeridianLink's platform helps financial institutions by streamlining processes, reducing application times, increasing operational efficiencies, and enabling personalized member experiences.