FourLeaf Federal Credit Union Expands Nationally with Innovation
FourLeaf Federal Credit Union, a prominent financial institution with $14 billion in assets, has recently celebrated a remarkable achievement in its quest to expand its footprint. The credit union has successfully tripled its indirect lending originations, evolving from a local provider to operating across an impressive eight states. This growth signifies a pivotal moment in the credit union's history.
An Unprecedented Surge in Lending Volume
Between 2020 and 2024, FourLeaf experienced astonishing growth, seeing its indirect loan volume rise by 161% and loan applications soar by 255%. This impressive surge also included a 294% increase in the number of dealers funding loans, showcasing the effectiveness of its strategic measures. The credit union achieved these results with minimal increases in internal staffing, thanks in large part to partnering with leading lending services.
Streamlining Processes with Origence
FourLeaf's collaboration with Origence proved instrumental in its growth. By using Origence Lending Services, the credit union was able to enhance its business processes, which allowed for quicker funding turnaround times—20% faster, to be exact. Additionally, the relationship enabled FourLeaf to improve its look-to-book ratios by 28% and expand its successful leasing program.
Strategic Partnerships Driving Success
Chris Walsh, the VP of Consumer Lending Product Management at FourLeaf, emphasized the importance of their leasing initiative. Walsh stated, "Our lease program attracted a host of dealers, allowing us to expand our relationships as we scaled our retail loan program." By the end of the latest financial period, FourLeaf recorded $650 million in originations, a testament to the successful national expansion.
Commitment to Quality Service
Tony Boutelle, CEO of Origence, praised FourLeaf's achievements, highlighting how innovation and strategic engagement paved the way for their impressive growth. The partnership provided the tools necessary for FourLeaf to streamline operations and enhance service delivery for both members and dealers.
A Blueprint for Future Success
The success of FourLeaf Federal Credit Union serves as a model for other financial institutions looking to navigate the competitive landscape of lending. Through their association with leading lending technology, FourLeaf has transformed traditionally manual processes into efficient automated systems that ensure timely loan processing and high dealer satisfaction, even during peak periods.
About FourLeaf Federal Credit Union
FourLeaf Federal Credit Union stands out as the 16th largest credit union in the nation, dedicated to improving the lives of its members and contributing positively to the community. With a legacy that spans over 80 years, FourLeaf not only offers a diverse range of financial products and services but also actively invests in local initiatives through its FourLeaf Cares Program.
This commitment has helped establish it as a Certified Great Place to Work and a recognized player in Fortune's "Best Workplaces in New York" for midsize companies. With a focus on a robust digital banking platform, FourLeaf provides access to accounts through a vast network of surcharge-free ATMs and shared branches nationwide, making banking convenient for its members.
Contact Information
For further inquiries, you can reach Alison Barksdale from Origence at 817-219-6281 or via email at alison.barksdale@origence.com. You can also connect with David Jones from William Mills Agency at 678-781-7236 or through email at david@williammills.com.
Frequently Asked Questions
What significant milestone has FourLeaf Federal Credit Union reached?
FourLeaf has tripled its indirect lending originations and expanded to eight states.
How much did FourLeaf's indirect loan volume increase?
The indirect loan volume increased by 161% from 2020 to 2024.
Which technology partner did FourLeaf Collaborate with for growth?
FourLeaf partnered with Origence to enhance its business processes and improve efficiency.
What achievements did FourLeaf make in dealer funding?
FourLeaf saw a 294% increase in the number of dealers funding loans during its expansion.
How can members access FourLeaf's services?
Members can access services through a robust digital platform and a network of surcharge-free ATMs and shared branches across the U.S.
