Case Study: Farmers Insurance Federal Credit Union Achieves 425% Loan Growth with Coviance

Farmers Insurance Federal Credit Union grows loans 425% with Coviance

Farmers Insurance Federal Credit Union was facing member complaints due to slow manual application processing, which led to long turnaround times and delays. They engaged Coviance and implemented its lending experience platform built for home equity, powered by its Collateral Decision Engine.

By leveraging Coviance's intelligent automation and communication workflows, the credit union achieved a dramatic increase in loan volume. The measurable result was loan growth from $62 million to $268 million in a single year, a 425% increase, while also benefiting from Coviance's customer support and training.

Farmers Insurance Federal Credit Union