SANTA BARBARA, Calif., May 15, 2020 /PRNewswire/ -- MoveCU Inc., a credit union fintech, announced that it has generated 330 direct auto loan approvals for MarketUSA FCU, a Maryland-based credit union, within the first 45 days of their partnership.
As a result, MarketUSA reached a record-setting month in originations for both new and used auto loans in January 2020. This pairing has expanded their offerings into auto loan refinance, personal loans and credit cards.
"MoveCU has taken our auto loan originations to a new record high," said Gregory Edwards, lending manager of Market USA FCU. "The team at MoveCU has a great vision for the credit union industry. We're excited to enter into new product categories with their support."
To date, MoveCU has integrated with the largest loan origination systems in the country, which grants credit unions seamless access to their platform. This direct lending channel empowers consumers and increases distribution and awareness for its partnered credit union clients.
"Our software is modular and highly scalable," said Kevin Dawson, chief technology officer and co-founder of MoveCU. "It allows us to enhance credit union distribution by deploying a platform that is both consumer- and credit union-friendly."
To gain this traction, MoveCU has executed the following:
- Integrated with all major loan origination systems
- Partnered with MD|DC Credit Union Association
- Integrated with Experian, TransUnion and Equifax
About MoveCU: Based in Santa Barbara, California, MoveCU, Inc. is the nation's first credit union marketplace. Founded in January 2016, the fintech company offers software and business development services that connect credit unions with new members. The platform helps consumers find the best-priced financial products using the latest technologies.
About Market USA FCU: Market USA Federal Credit Union was established in 1953 and located in Washington, D.C. Originally founded as Giant Food Department Stores Federal Credit Union, the name was changed in January 1958 to Giant Food Federal Credit Union. The name changed again in December 2000 to Ahold USA Federal Credit Union to reflect the credit union's ability to serve the associates, retirees and family members of Ahold USA and its subsidiaries. In July of 2004, in keeping with our diverse membership, Ahold USA Federal Credit Union became Market USA Federal Credit Union.
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