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Lending operations are key source of income for credit unions. By utilizing Sharetec’s Automated Lending rules and officer limits, credit unions can begin to better manage incoming revenue and mitigate risk.

Filling out a loan application shouldn’t be a slow and complicated process. In this day and age of super-fast computing and automated processes filling out a loan should take 5 minutes. With Sharetec, this becomes a reality.

Ideal for establishing and streamlining lending guidelines, Automated Lending from Sharetec is a decision tool used in conjunction with Sharetec’s loan application. It automatically generates approval or denial of a loan based on up to eleven (11) pre-established and weighted criteria. As debt and income information is recorded, factors such as disposable income, debt ratios and loan-to-value percentages are automatically calculated for the applicant and co-applicant.

Credit unions can customized these rules by weighting the selected criteria based on what is most important to the institution. By doing so, Credit unions using Sharetec Automated Lending rules can remain sensitive to the financial needs of the members they serve.

Sharetec also puts control in the hands of credit union management when it comes to its employees. With officer limits, Sharetec allows management to control the types and amounts of loans that get approved. Credit unions using this tool can manage new loan officers more effectively, reducing costly lending errors.