Michigan State University Federal Credit Union Selects TCI?s DecisionLender to Automate Indirect Lending Processes

Teledata Communications, Inc., (TCI) a leading provider of automated loan origination and workflow automation software for lending institutions, has announced that Michigan State University Federal Credit Union (MSUFCU) has chosen TCI’s DecisionLender to automate and improve its indirect lending activities. DecisionLender is a web-based loan origination and automated processing solution that enables credit unions, banks, finance companies and other lenders to process and decision loan applications in real-time.

According to Joyce Banish, MSUFCU’s director of marketing, the credit union sought a technology solution to replace an outside managed services vendor, and bring its indirect lending activities in house. MSUFCU conducted an exhaustive review of several competing software solutions before choosing DecisionLender.

“Over the last several months, we carefully evaluated a number of loan origination and processing options,” remarked Banish. “Our analysis was that DecisionLender far and away met our operational and financial objectives. From a management standpoint, we were impressed that we could easily integrate DecisionLender into our core processing system, Symitar, and we find the application remarkably easy to use. From a cost perspective, we determined it to be much more affordable than competing solutions.” Banish also noted that the credit union liked DecisionLender’s ability to interface with external finance source portals, like DealerTrack and Route One.

Based in Michigan’s state capital, Lansing, Michigan State University Federal Credit Union has over 127,000 members, including students, alumni, faculty, employees and their families. Eighteen percent of its membership resides outside the state of Michigan. MSUFCU has assets of $1.25 billion dollars, and maintains four branches in Lansing, and one in Auburn Hills, Michigan.

DecisionLender is considered one of the industry’s most comprehensive automated loan origination, processing and decisioning solutions. Upon receiving a loan application, DecisionLender automatically prepares the file for a credit analyst’s review by retrieving credit and productrelated valuation data, calculating loan ratios, and evaluating risk against the lending institution’s specific criteria. Lenders can also choose the option of having DecisionLender automatically decision loan requests according to their underwriting guidelines for each loan type. As a web-based solution, DecisionLender is extremely secure, flexible and cost-effective. It requires just a basic set-up charge and is available to customers on a pay-per use basis, enabling lenders to manage their resources more effectively.

“We are very pleased that DecisionLender will play an integral part in MSUFCU’s strategic decision to bolster its indirect lending capabilities,” said William S. Nass, president of TCI. “They understand that auto indirect lending is changing from a fax-based, manual process into an Internet-based, automated workflow process. Our product is designed to meet the challenges of this evolving marketplace.”

About TCI
TCI was founded in 1982 and is based in Hauppauge, NY. The company offers a wide range of solutions for the credit granting community that include credit report retrieval, connections to key databases, tenant and employment workflow automation as well as its leading Web-based loan origination and decisioning solutions. TCI has over 3,500 customers utilizing its reliable ASP-based solutions. More information is available at www.tcicredit.com.