Michael Moore

The importance of application programming interfaces continues to grow, enhancing efficiency and member convenience. Learn how to effectively incorporate #APIs into your #creditunion's member service strategy by downloading this Envisant infographic: https://hubs.ly/Q02vdqLQ0

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The importance of application programming interfaces continues to grow, enhancing efficiency and member convenience. Learn how to effectively incorporate #APIs into your #creditunion's member service strategy by downloading this Envisant infographic: https://hubs.li/Q02td7Tv0

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Ribbon was given a shout out for great tech solutions to support credit unions when a member passes away. Have a read! "Their simple plug-in avoids core integration, allows inheritors to digitally submit an inheritance request, verifies all documentation (e.g. death certificate), and gives a slick view to prioritize retaining inheritors. By simplifying the estate settlement and inheritance process, they allow credit unions to support and memberize surviving loved ones." https://lnkd.in/eTznwZw8

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At NCRC, we're addressing the #racialwealthdivide head-on through dedicated research, strategic programs, and leading advocacy. Be part of the change. Learn more about our mission. #Equality #Advocacy https://hubs.ly/Q02t8tXM0

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At NCRC, we're addressing the #racialwealthdivide head-on through dedicated research, strategic programs, and leading advocacy. Be part of the change. Learn more about our mission. #Equality #Advocacy https://hubs.ly/Q02CS_1r0

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At NCRC, we're addressing the #racialwealthdivide head-on through dedicated research, strategic programs, and leading advocacy. Be part of the change. Learn more about our mission. #Equality #Advocacy https://hubs.ly/Q02tMpJy0

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At NCRC, we're addressing the #racialwealthdivide head-on through dedicated research, strategic programs, and leading advocacy. Be part of the change. Learn more about our mission. #Equality #Advocacy https://hubs.ly/Q02wnVh60

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Veterans, prepare your business case and financial statements, and let #PuroVet help guide you to the right resources. With tailored support from #PuroVet and your local VBOC, find the perfect loan to fuel your business dreams as a #PuroCleanFranchiseOwner. Take the next step in your entrepreneurial journey today! Visit PuroVet.com to learn more about how we support veteran entrepreneurs. #VeteransInBusiness #PuroVetSupport

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At NCRC, we're addressing the #racialwealthdivide head-on through dedicated research, strategic programs, and leading advocacy. Be part of the change. Learn more about our mission. #Equality #Advocacy https://hubs.ly/Q02vxScC0

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SBA 7(a) & 504 Real Estate Purchase Loan Application From Start To Funding The most frequently asked question I receive by far is how long does the loan application process take to complete from start to finish. The quick answer is 45 - 60 days. The honest answer is it takes as long as necessary to complete all steps in the process. The next logical question is what are the steps. Here is a list of each step in order with an explanation. Before I begin, I want to emphasize the timeline starts from the day the lender receives the monetary Deposit, usually $2,500 or $5,000 and the signed Letter of Interest or Term Sheet. Step 1: Loan Application Needs List. This needs list is sent to the Applicant by the Lender in preparation for underwriting. Included are General Application Forms and SBA Forms 1919, 413 and 912 if necessary. It typically takes 2 - 4 days for the lender to generate this needs list from receipt of the monetary Deposit and signed Letter of Interest. Step 2: Underwriting. The amount of time to underwrite the loan is 1 - 3 weeks depending on the lender's pipeline density, available underwriters and support resources and outstanding information required by the underwriter to render a decision. Step 3: Credit Decision. The credit decision is announced upon completion of underwriting or the conclusion of ”loan committee.” Some lenders shepherd loan requests through individual underwriters in an underwriting loan center. Other lenders maintain a decision making body referred to as “loan committee.” It takes 5 - 10 days for an underwriter to review a loan application and either return to the applicant with questions or a credit decision, meaning the loan is either approved or declined. Loan committees decide a loan in the committee meeting which is typically held one day per week or every other week. SBA 504 loan requests require a separate SBA Approval called an Authorization which may add an additional 5 - 10 days to the entire application process. Step 4: Commitment Letter. The commitment Letter outlines conditions required to close the loan and is sent to the Applicant 2 - 4 days after loan approval. This step begins the process of ordering third party reports and the collection of closing documents. Step 5: Third Party Reports & Closing Documents. A real estate appraisal is ordered by the lender to be performed by an SBA approved third party appraisal company. The appraisal may take 2 - 3 weeks to complete with an additional 2 - 5 days for lender review. If a business acquisition is included with the real estate purchase, a business valuation is also ordered which also takes 2 - 3 weeks with an additional 2 - 5 days for lender review.

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The Community Impact Fund (CIF) is a 501(c)(3) organization that partners with credit unions and other organizations to provide 0% interest loans and saving incentives to employees. ​​​​​ In this blog, Merry Pateuk, SVP of Industry Engagement at PSCU/Co-op Solutions, shares how partnering with the CIF can help employees struggling with their finances. ➡️ Read the blog: https://bit.ly/44jKZz0 ➡️ Learn more about The Community Impact Fund: https://bit.ly/3UykFh5 #CreditUnions #FinancialWellness #CommunityImpact

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Senso's CUCopilot Sessions are driving collaborative AI innovation among credit unions. Industry pioneers are experiencing game-changing outcomes. Joey Rudisill, 𝐂𝐈𝐎 𝐚𝐭 Central Willamette Credit Union, emphasizes how the monthly Sessions have "𝐬𝐮𝐫𝐩𝐚𝐬𝐬𝐞𝐝 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 𝐚𝐜𝐫𝐨𝐬𝐬 𝐭𝐡𝐞 𝐛𝐨𝐚𝐫𝐝," fostering a culture of innovation and accelerating AI adoption across the industry. Become part of our CUCopilot Network today, and let’s shape the future of credit unions together: https://senso.ai/cucopilot

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ICYMI: You know strategic planning is critical to any credit unions' long-term success. The next crucial piece is ...https://loom.ly/s7toIY0 #creditunions #strategicPlanning #CDFIs

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Considering subordinated debt to enhance your #creditunion's growth and stability? At CUCollaborate, we boast a 100% approval rate for #subordinateddebt applications! Our services include: 🔹 Detailed Project Planning 🔹 Strategic Application Completion 🔹 Direct Regulatory Liaison 🔹 Financial Projections & Analysis 🔹 NCUA Compliance & Due Diligence Click below to schedule a meeting with us and learn more! https://lnkd.in/gp4jCjE8 #CreditUnions #FinancialGrowth #FinancialServices #CreditUnionGrowth #RegulatoryCompliance #StrategicPlanning

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