When it comes to loans and deposits, many financial institutions are still using disparate systems. Adding in the burdens of incomplete applications, lengthy submission processes, and the need for manual effort to boost application conversion means a lot of time spent without as much reward as is possible.
Especially in this era driven by AI and financial technology, there is no being “done” with technology upgrades. Continuing to streamline and enhance the member experience through online tools is a must to remain competitive, meet and exceed member expectations, and drive credit union growth. Credit unions that do not implement modern tools that enhance the member experience will inevitably lose members to fintech-focused competitors.
Aggregating account opening and lending operations isn’t something to consider for the future; it is a strategy to plan and implement today. Modern interfaces manage fast, frictionless, fully digital experiences across channels, removing friction for both members and staff. This fosters growth, improves operational efficiency, and provides an even better experience for members.
Top Concerns: Credit Union Executives
According to Cornerstone Advisors, the key areas concerning credit union executives in 2025 are:
- 62%: New Member Growth
- 59%: Efficiency, Cost, Non-Interest Expense
- 52%: Deposit Gathering
- 51%: Consumer-Related Fraud
Addressing these concerns requires bridging the gap between traditional banking services and modern digital financial experiences. Ensuring your credit union offers intuitive interfaces backed by state-of-the-art security can be achieved by selecting a partner focused on exceeding member expectations.
Transforming Digital Loan and Deposit Origination
Online consumer behavior is changing alongside the rapid rise of AI. Ron Shevlin, Chief Research Officer for Cornerstone Advisors, recently posed a question to attendees of a webinar hosted by Clutch and TruStage: “Asking how do we implement AI? is like asking what can I use a PC for? The answer is: everything.”
Solutions are no longer disparate. Partnering with one platform can bring together numerous areas and tools that work together to provide a smoother member experience, faster approval funding, and streamlined communications, including:
- Digital Account Opening
- Digital Loan Opening
- Automated Decisioning and Fulfillment
- AI-Powered Assistant
In addition to leveraging platforms that seamlessly blend digital lending and deposit origination, focus on preparing for a future where AI manages tasks at scale and with less friction, freeing your human team for other tasks. Credit unions must be ready for the potential where a member simply asks AI to find the best loan rate or other offer. This AI technology is developing alongside faster payments and open banking APIs. Strategically building the foundation today for tomorrow’s tools is imperative.
Six Areas to Consider
When finding a tool that accomplishes aggregate account opening, here are six areas to keep in mind:
- Choose a Tool Built for Credit Unions. Features, integrations, and support should be designed specifically around credit union workflows, member expectations, and compliance needs.
- Unify Origination for Loans and Deposits. Connect lending and deposits to enable seamless cross-sell and unified onboarding for new and existing members.
- Select an Omnichannel Solution. Digital, branch, call center… One platform should ensure a consistent member experience, no matter the touchpoint.
- Ensure Re–engagement and Cross-Sell are Built-In. Marketing automation and smart cross-sell tools should be embedded to increase loan conversion and deepen relationships.
- Incorporate Fulfillment Automation. Many manual back-office efforts required to fund loans and accounts can now be automated. Accelerating this process provides near ready-to-fund applications to your team.
- Select Simplicity. Aggregate account solutions should be near out-of-the-box in use without losing the robust capabilities that drive performance.
Conclusion
Credit unions are at a critical juncture where member expectations, operational efficiency, and competitive pressures intersect. The path forward lies in unifying loan and deposit origination under one streamlined, digital-first experience. By adopting modern platforms that combine automation, AI, and omnichannel access, credit unions can reduce friction, safeguard against fraud, and deliver the fast, intuitive interactions members now expect.
