Case Study: Farmers Insurance Federal Credit Union increases efficiency by 58% with Coviance

Farmers Insurance Federal Credit Union boosts efficiency by 58% with Coviance

The customer, Farmers Insurance Federal Credit Union (FIGFCU), faced a challenge in keeping pace with rising home equity lending demand and growing loan volume. To address this, they partnered with the vendor Coviance to implement an intelligent automation solution.

By implementing Coviance's solution, the credit union achieved significant results. The vendor helped FIGFCU triple its loan pull-through rate from 27% to 67%, shorten its lending cycle to an average of 17 days, and grow member satisfaction to 4.98 out of 5, leading to a 58% increase in efficiency.

Farmers Insurance Federal Credit Union (figfcu)