SPIRE Credit Union has been honored with the 2018 National Excellence in Lending Award. The award, co-sponsored by Credit Union National Association (CUNA) and CUNA Mutual Group, recognizes credit unions for exemplary lending strategies. They established the program in 2000 to identify, recognize and share examples of lending excellence within the credit union movement.
SPIRE serves 106,000+ member-owners. In 2015, they began using data analytics and business intelligence as a basis for overhauling loan strategies and processes. The results are astounding. They increased consumer loan originations from $86.4 million in 2013 to $285.6 million annualized for 2018. SPIRE also expanded monthly indirect loan volume from $2.5 million to $14 million. SPIRE’s members benefit from the changes, too, realizing a streamlined loan application process, quick turnaround time on loan decisions, rewards for additional products with SPIRE, and implemented a Beat Your Rate program.
“We are absolutely humbled to be recognized on the national level,” said Cliff Wantz, SPIRE Sr. Vice President of Lending and Product, “Our employees work so hard to give members an efficient and seamless lending experience, and to see them acknowledged at this level makes me so proud of them!”