Case Study: Founders Federal Credit Union reduces predatory loan interest rates with Q2 Software

Founders Federal Credit Union grows Express Loans 10X in 90 days with Q2

Founders Federal Credit Union faced a challenge after it identified a third-party lending solution to help members avoid predatory payday loans. They needed a way to effectively identify at-risk members and market this alternative service to them. Using Q2's Q2 SMART and Q2 Discover products, the credit union could pinpoint qualified members for their "Express Loans" program.

The solution integrated the lending program via Q2 Innovation Studio into the digital banking platform. This allowed Founders Federal Credit Union to directly educate and offer loans to members. With Q2's technology, the credit union grew its loan volume by 10x within 90 days, helped members reduce interest payments by up to 10x, and achieved a $600,000 ROI in under a year.

Founders Federal Credit Union