Family Financial Credit Union Chooses Algebrik AI's End-to-End Digital Lending Suite: Algebrik ONE; to Enter into the New Era of Agentic AI-Powered Lending

Joins Algebrik AI's coveted club of credit unions who are leading the next wave lending innovation

NEW YORK, Aug. 4, 2025 /PRNewswire/ -- Algebrik AI, a Delaware-incorporated company headquartered in New York City, pioneering the world's first cloud-native, AI-powered, digital-era Loan Origination System (LOS) built for credit unions, today announced that Family Financial Credit Union, a trusted community institution based in Muskegon, Michigan, has selected Algebrik AI's complete agentic AI-powered lending origination suite called Algebrik ONE: including its Digital Account Opening, Lender's Cockpit (LOS), Omnichannel Point-of-Sale (POS), AI Decision Engine, and Portfolio Analytics -  to deliver faster, smarter, and radically member-first lending and onboarding experiences across channels.

Algebrik AI stands apart from legacy LOS systems through the following key differentiators:

Cloud-Native, AI-powered digital era architecture

Designed from the ground up as a modular, cloud-native, AI-powered platform, Algebrik enables personalized workflows that adapt to the needs of both members and lenders. With Agentic AI not just making decisions but also executing them, the platform delivers measurable impact across the lending journey:

• 90% reduction in abandonment rates, bringing down average loan or member acquisition costs from $600–$700 to just $100–$200.
• 40% reduction in processing time for underwriters and lenders, freeing up nearly 2 days per week to focus on complex cases and deeper member engagement.
• 30–40% increase in Look-to-Book (LtB) ratios, improving loan-to-share performance and net interest margins (NIM).
• 300% improvement in member experience, enabling approvals in under 5 minutes across all loan types, and same-day funding for unsecured personal loans.

Digital Account Opening

Algebrik's Digital Account Opening module uses a micro-journey architecture that guides applicants through personalized onboarding flows: whether self-serve or assisted. With features like dynamic eligibility, real-time ID verification, modular product bundling, and Core data lookups, the platform delivers a fast, frictionless account opening experience.

Integrated No-Code Decision Engine

Allows business users to build, simulate, and deploy underwriting, pricing, and eligibility strategies without IT involvement: complete with champion-challenger testing and model integration.

Omnichannel Point-of-Sale (POS)

Unified borrower experience across web, mobile, and in-branch interfaces, supporting co-applicants, assisted application handoffs, and dynamic workflows.

Member-Centric Workflow Automation

Enables progressive disclosure, micro-journeys, and self-serve + assisted flows, ensuring personalization without increasing operational load.

Smart Document & Stipulation Management

Built-in stipulation workflows with document scraping, red flag detection, and conditional logic to streamline compliance and reduce back-and-forth with borrowers.

Embedded Analytics & Reporting Tools

Drag-and-drop reports, SQL/Python access, and compliance-ready outputs (e.g., HMDA), supporting both tactical reporting and strategic insights.

Real-Time Core Integration & Validation

Pre-built integration with major Core systems and service providers, with real-time validation of borrower accounts, loan disbursement instructions, and funding confirmation.

Audit-Ready, Role-Based Access Control

Every user action, override, or workflow step is fully tracked, ensuring traceability, internal controls, and compliance alignment.

Modular Rollout & Use-Case Flexibility

Institutions can go live with just the Digital Account Opening, LOS or Point of Sale or Decision Engine, with additional modules added as needed, ensuring faster time-to-value and flexible adoption.

By partnering with Algebrik AI, Family Financial Credit Union aims to:

• Modernize new account opening and lending with intelligent workflows across digital and in-branch channels
• Equip staff with smart decisioning tools and guided LOS interfaces that accelerate turnaround time
• Gain deeper operational visibility through embedded portfolio analytics
• Shorten funding cycles using built-in Core integrations and automated verifications
• Ensure audit-readiness and regulatory compliance via real-time tracking and AI-backed logic

Visionary Leadership Speaks

"We've always believed in blending high-tech with high-touch," said Deb Dietz, Chief Executive Officer of Family Financial Credit Union. "Whether it's through initiatives like Quick247 or personalized account rewards, we've continuously evolved to meet members where they are. With Algebrik AI, we're not just upgrading our tech stack; we're redefining the speed, simplicity, and personalization of lending for the communities we serve. We truly believe Algebrik ONE gives us the agility to meet every member moment with intelligence, speed, and empathy."

"Family Financial's commitment to speed, inclusion, and service excellence echoes our own DNA," said Pankaj Jain, Founder & CEO of Algebrik AI. "They've consistently shown what it means to be a modern credit union, grounded in community, yet ambitious in innovation. In a world where legacy systems continue to bottleneck progress, we're proud to equip institutions like Family Financial with a platform purpose-built for transformation. With Algebrik ONE, they gain not just embedded AI and smart workflows, but a future-proof foundation for delivering faster credit, deeper insight, and more meaningful member relationships. This is how lending should feel in the digital era: intelligent, human, and limitless."

"This is more than a LOS; it's a foundation for intelligent, real-time engagement," added Erin Folland, VP of Lending at Family Financial Credit Union. "Algebrik One's modularity and built-in AI allow us to approve faster, fund sooner, and stay compliant, all while delivering the member-first experience we're known for. It's tech that bends to our mission, not the other way around."

"What drew us to Family Financial was their innate altruistic desire to help their members and communities they serve," said Andrea Silvers, VP of Business Development & Partnerships at Algebrik AI. "From launching tools like Quick247 and live teller kiosks to being recognized with the Dora Maxwell Award, Family Financial has consistently prioritized innovation that puts members first. That spirit deeply aligns with our own vision at Algebrik: to build technology that feels personal, purposeful, and future-ready. This partnership is more than a deployment; it's a joint commitment to shaping what modern, human-centered lending should look like in the decade ahead."

For more information on how Algebrik AI is transforming lending, visit https://www.algebrik.ai.

For latest on cutting edge lending technology & AI, follow Algebrik AI on Linkedin at: https://www.linkedin.com/company/algebrik-ai.

Or chat with the Algebrik AI team at: [email protected].

About Algebrik AI

Algebrik AI, headquartered in New York City, is the company behind Algebrik One: the world's first cloud-native, AI-powered, digital-era Loan Origination Suite (LOS), designed for the next generation of members. In an industry that hasn't seen significant innovation in lending technology in over 25 years, it was high time someone stepped in to help credit unions of all sizes regain their former glory.

Algebrik AI's mission is to empower credit unions to attract, engage, grow, and retain next-gen members while staying competitive in today's digital era. With Algebrik One, an end-to-end lending suite that includes Digital Account Opening, Lender's Cockpit (LOS), Omni-channel Point of Sale (PoS), AI Decision Engine, and Portfolio Analytics, we take on the heavy lifting; so credit unions can focus on helping the members and communities they serve. For more information, visit www.algebrik.ai

Media Contacts:

Prateek Samantaray

CMO

[email protected]

About Family Financial Credit Union

Family Financial Credit Union was founded in 1942 and today serves individuals and families across Allegan, Kent, Mason, Montcalm, Muskegon, Ottawa, Oceana, and Newaygo counties. Headquartered in Muskegon, Michigan, the credit union provides a full suite of member-centric products, from reward checking to Quick247 life-events loans, backed by a deep commitment to digital accessibility and community service. In 2023, Family Financial was recognized with the Dora Maxwell Award for its local financial wellness programs & community involvement and continues to lead by example in delivering progress with purpose. To know more, visit https://www.ff-cu.org/

SOURCE Algebrik