Modernize your adverse action notice process

Published by: Kyle Alford

February 21, 2024 | Industry Supporters

Is your credit union still printing and mailing adverse action notices? This approach costs you roughly $1 per piece, is cold and impersonal for members, bad for the environment, and a manual burden for employees.

Credit Mountain is an online digital credit counselor that helps members improve their financial well-being. It also helps credit unions reinvent the decline experience.  When you must decline a loan or credit application, Credit Mountain’s Warm Decline platform creates digital Adverse Action Notices that give your members the transparency they crave and the encouragement to reach their goals with your credit union.

With declines on the rise due to low liquidity, building a pipeline of future borrowers is key.

The Credit Mountain system works 1-to-1 with each potential borrower to create a path to approval that considers everything from your underwriting parameters to the decline reasons generated by the loan origination system.

With automated monthly progress reports, prospects remain engaged and working towards lending readiness. The tracking features in Credit Mountain notify your staff when the member progresses in their journey or reaches a particular target and provides actionable data to transform conversations into lending opportunities.

“Before UFCU launched UFCU Credit Coach powered by Credit Mountain, declined borrowers received their decision without connection to a personalized tool which could help them take control of their credit situation, said Olivia Hayden, Manager of Financial Success, UFCU. “With UFCU Credit Coach, members automatically receive relevant information to improve their credit and reach their financial goals.”

Book a demo today to learn how Credit Mountain can advance your credit union’s lending goals. Learn more at Navatros.com.

Contact Kyle Alford or Rich Mensah for questions or assistance.

Kyle Alford
Kyle Alford Director, Business Research and Development E: kalford@ohiocul.org
Rich Mensah
Rich Mensah Business Analyst E: rmensah@ohiocul.org
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