You are receiving this message because you have been identified as a credit union presently utilizing LoanPay Xpress as a loan payment solution. With the sunset of LoanPay Xpress on the way, we are aware you need to make a decision to either migrate to SWIVEL Pay or move to another vendor for loan payment services.
CU*Answers currently integrates with 5 different loan payment vendors. We love to provide options for you, but we also understand there is a lot to consider as you decide which vendor is best for your members! In an effort to help you identify key pieces of information about each vendor, we have created a document for you to compare and contrast how they are set up with CU*Answers today. You can access this document here: Let’s Compare Loan Payment Solutions!
Another important item to consider as you evaluate the vendors, is the timeline of the project. Below you will find the estimated timelines for each vendor on the CU*Answers side (this is based off our current pipeline of projects and is subject to change):
- MessagePay: 3 weeks*
- SWIVEL Pay: 4 weeks*
- LenderPay: 5 weeks*
- REPAY: 7 weeks*
- Rise: New integration; timeline not established
*All timeline estimates start at the point when a CU*Answers programmer is assigned to your project and reaches out to you and the vendor for a project kickoff call.
Keep in mind that timelines on the vendor side will also significantly impact the project timeline overall, so be sure to do your due diligence when speaking with the vendor.
Most importantly, be aware that we have seen a recent influx of these projects due to the sunset of LoanPay Xpress. Projects are being assigned in the order that they were received. So if you need a new loan payment solution, we encourage you to move forward sooner rather than later!
(Note: Our intention with this message is to give an idea of how long a potential project might take; credit unions who have already selected a vendor and completed a project bid with us will receive notification when their project has been assigned to a programmer.)
If you have questions about sunset dates for LoanPay Xpress, please contact SWIVEL at: success@getswivel.io
Have questions about the vendor integrations? Contact our Lender*VP Team at: lendervp@cuanswers.com
Thank you!
