Case Study: CoVantage Credit Union achieves faster loan applications and 30% loan growth with Fiserv Architect: SDK

CoVantage Credit Union Flexibility of the Virtual Channel Improves Member Experience and Saves Staff Time

CoVantage Credit Union faced heavy staff burden and member friction around its seasonal Holiday Bucks loan program, with early inquiries and a large annual application surge hurting productivity. To streamline marketing and the application experience, CoVantage partnered with Fiserv and used Architect: SDK to move the program into the credit union’s virtual channel.

Using Fiserv’s Architect: SDK, CoVantage built an in-channel lending application that pre-filled member data and implemented targeted ads that stopped showing once members applied. The change cut member application time from about 10 minutes to 1–2 minutes, reduced processing time from 15 minutes to about 5 minutes, saved roughly $4,000 in application fees over two years, and drove a 30% year-over-year increase in applications (growing from $3.1M to $7.2M in applications over three years), while improving application quality and later extending the solution to mobile via Architect.

CoVantage Credit Union

Melissa Wilhelm

Online Marketing Specialist