Credit Unions: A Movement of Membership

Choosing the right LOS for your credit union can be a difficult decision. At Baker Hill, we invented loan origination technology and we’ve been building loan origination solutions for more than 40 years. Our modular platform is purpose-built to meet the evolving needs of credit unions across the United States.

Credit unions of all sizes can benefit from a loan origination system – especially those that are looking to grow their efforts in member business lending. A modular system like Baker Hill NextGen® meets you where you’re at and can scale as your credit union’s needs evolve.

There is no “one size fits all” solution when it comes to loan origination software, but a strong LOS should have tools that provide several benefits for credit unions that help track the loan pipeline, capture loan application information, conduct financial analysis, and compile all of the data into a comprehensive credit memo.

There are several ways an LOS can have a positive impact on the member experience for a credit union. Digital tools make it easier for members to apply for loans and foster collaboration among your teams that can streamline member communication and requests.

Managing risk and regulatory compliance can be challenging – especially when using spreadsheets and manual processes. An LOS creates a system of record that simplifies audits and provides regulators with the data they need.

Integrations are a critical part of the efficiency gains when implementing an LOS. An LOS should integrate your core data, as well as other data systems, to help you get a holistic view of member relationships and risk to make informed decisions.