Palmetto Citizens FCU Partners with Baker Hill for Lending Innovation

Palmetto Citizens FCU Partners with Baker Hill for Innovative Lending

Palmetto Citizens Federal Credit Union is embarking on a transformative journey in the world of lending. Through a partnership with Baker Hill, a leader in loan origination and digital lending technology, the credit union is set to automate its entire lending process. This collaboration aims to simplify the experience for its members while enhancing operational efficiency.

The integration with Baker Hill will ensure that all phases of lending—from origination to booking—are seamlessly handled within the Corelation Keystone core system. This means a significant reduction in duplicate data entry and workflow silos, resulting in a streamlined experience for both staff and members.

"We continuously strive to enhance the lending experience for our members and local businesses," said Carol Addy, Chief Revenue Officer of Palmetto Citizens FCU. "By collaborating with Baker Hill, we will optimize our internal processes, enabling us to deliver services in a faster and more personalized manner. The integration with LenderLink is key to achieving a cohesive journey for our team and our members," she emphasized.

Seamless Experience for Members

With Baker Hill's advanced loan origination platform linked to Corelation Keystone via Lowenstein and Associates' LenderLink, members of Palmetto Citizens FCU can expect a much-improved borrowing experience. The automation will facilitate quicker loan decisions with increased clarity and reliability. The elimination of manual data re-entry will speed up approvals and ensure greater booking accuracy, allowing staff to devote more time to personal service rather than paperwork.

Innovation Setting New Standards

Andy Ivankovich, President and CEO of Baker Hill, noted, "Credit unions such as Palmetto Citizens are redefining what modern lending looks like. This initiative goes beyond merely automating steps; it focuses on creating an end-to-end experience that meets the expectations of members in today’s digital landscape. Our goal is to revolutionize how lending can be approached effectively and efficiently."

This partnership, notably featuring LenderLink, is pivotal in facilitating this change. “LenderLink has been designed to automate specific loan onboarding and funding processes. This approach removes friction and prevents duplicate entries between leading loan origination systems and credit union core systems,” remarked Zach Lowenstein, National Sales Director at Lowenstein and Associates. “Palmetto Citizens FCU exemplifies the possibilities that arise when credit unions integrate innovative leadership with advanced technology.”

Commitment to Member Success

For Palmetto Citizens FCU, this initiative represents far more than just operational efficiency; it's a commitment to its mission of empowering individuals and business members with the necessary tools for success. The credit union is focused on alleviating complexity while instilling confidence in its borrowers.

"This collaboration shows that innovation in lending does not need to be complex; it simply must be interconnected," adds Ivankovich, highlighting the principle that guides this venture.

About Baker Hill and Its Impact

Baker Hill, founded in 1984 and located in Carmel, Indiana, stands out as a premier provider of cloud-based loan origination, risk management, and analytics solutions dedicated to financial institutions. The award-winning Baker Hill NextGen platform empowers banks and credit unions to foster growth, mitigate risk, and boost productivity. Supported by Flexpoint Ford, the company remains committed to creating technological advancements that reshape lending experiences.

About Palmetto Citizens Federal Credit Union

Since its inception in 1936, Palmetto Citizens has devoted itself to meeting the financial needs of its members. Today, it oversees over $1.4 billion in assets and employs more than 310 individuals, serving over 100,000 members across 14 branches and nearly 50 ATMs. The credit union is focused not only on helping individuals achieve financial wellness but also on equipping member business owners with essential resources for growth and prosperity.

Conclusion

The synergy created between Palmetto Citizens FCU and Baker Hill sets a new benchmark within the lending industry, demonstrating that the future of borrowing can be characterized by efficiency and a user-friendly experience. The foundation of this partnership is dedicated to ensuring that members are equipped with streamlined services that enhance both confidence and success.

Frequently Asked Questions

What is the main goal of the partnership between Palmetto Citizens FCU and Baker Hill?

The partnership aims to automate the lending process, enhancing efficiency and personalizing the experience for members.

How will this new system benefit Palmetto Citizens FCU members?

Members will enjoy faster loan decisions, streamlined processes, and improved clarity and consistency in lending services.

What technology does Baker Hill provide for this initiative?

Baker Hill offers a robust loan origination platform that integrates with Corelation Keystone, facilitating an efficient loan experience.

Who is a key player in this integration alongside Baker Hill?

Lowenstein and Associates plays a crucial role with its LenderLink tool, which automates connections between loan origination systems and core processors.

Since when has Palmetto Citizens FCU been serving its members?

Palmetto Citizens FCU has been serving its members since 1936, focusing on their financial wellbeing and supporting local businesses.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

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