Naveo Credit Union Accelerates Entry into Member Business Lending with Baker Hill

Baker Hill's platform enables Naveo to automate and streamline its Member Business Lending process, including tight integration with FICO® Platform - Small Business Scoring Service ℠, which is a key component in managing risk and accelerating approvals

CARMEL, Ind. and SOMERVILLE, Mass., Sept. 29, 2025 /PRNewswire/ -- Naveo Credit Union, a community-focused financial institution based in Somerville and serving the Greater Boston area, has chosen Baker Hill to support a major strategic shift into Member Business Lending. As market dynamics evolved, Naveo recognized the opportunity—and responsibility—to support small business growth in its community. With Baker Hill's lending platform, the credit union is now equipped to deliver faster, better decisions for local businesses.

"We have an obligation to support our small business members who are an integral part of our community," said Karen Yee , Chief Lending Officer at Naveo Credit Union. "Our members are entrepreneurs, creators, and small business owners. We want to be there for our members and neighbors when they need capital—not in weeks, but in hours. The traditional commercial underwriting process is cumbersome, which requires gathering financial information and tax returns.   Baker Hill gives us the tools to respond quickly, confidently, and with the same sophistication as larger lenders."

David Smith , the Small Business Segment Leader at FICO, highlighted the impact of the industry-leading application risk assessment solution that runs on FICO® Platform, the Small Business Scoring Service℠ (SBSS℠). "Naveo is putting itself in a strong position by using proven scoring and decisioning tools. With SBSS and Baker Hill, they're making small business lending faster and more consistent, helping business owners access the funding they need without the friction."

Baker Hill CEO Andy Ivankovich  emphasized the broader trend - "What Naveo is doing isn't just smart—it's bold. They're stepping into business lending with the kind of tech stack usually seen at the biggest banks. Technology is the great equalizer, and Naveo is showing how a credit union can lead with innovation, agility, and purpose."

Naveo's new strategy reflects a growing momentum among credit unions to diversify lending portfolios, meet community needs in real time, reduce portfolio mix concentrations, and compete head-to-head in the small business lending space.

FICO, Small Business Scoring Service, and SBSS are registered trademarks or service marks of Fair Isaac Corporation in the U.S. and other countries.

About Naveo Credit Union

Naveo Credit Union is a member-owned, not-for-profit financial institution with branches in Somerville and Cambridge, Massachusetts. Since 1928, Naveo has been dedicated to empowering members through inclusive, community-based financial solutions. Membership at Naveo is open to anyone who lives, works, or attends school in Middlesex, Suffolk and parts of Essex counties. Naveo is a $178 million dollar credit union, serving 10,000 members of diverse backgrounds.

About FICO

FICO powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting four billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.
Learn more at https://www.fico.com/en

About Baker Hill

Baker Hill is the most advanced lending platform for growing & innovative financial institutions. For more than 40 years, we've walked alongside banks and credit unions. Our goal has always been to help institutions lend faster, lend better and lend more. For more information, visit  http://www.bakerhill.com/

SOURCE Baker Hill