In 2020-21, CU*Answers developed self-service lending features that allow members to open new credit cards and loans through online and mobile banking more quickly than ever.
1Click Offers tie a credit union’s lending team, smart analytics, and computer-closed-loans (no employee needed) into lending solutions. Instead of waiting for members to apply, credit unions can offer pre-approved, guaranteed loan accounts to targeted members via online banking. There is no application, no credit report pull, and no underwriting. They just make the offer to members the credit union has already qualified.
The product was previously only available for credit cards and CD-secured loans, but in the 21.12 release, the feature was expanded to unsecured term loans and unsecured lines of credit.