Key Results
- 50% increase in digital loan applications after go-live.
- 50% reduction in application processing time.
- Increased self-served cross-sells and improved pull-through rates.
- Member experience transformed from reactive to proactive – surfacing additional loan opportunities at the point of application.
The Challenge: A Strong Institution With a Clunky Application Standing in Its Way
Abound Credit Union has served members in Kentucky, Indiana, and Tennessee for more than 74 years. With over $2 billion in assets and 18 branches, the institution has a long track record of financial wellness advocacy. But its consumer loan origination experience wasn’t keeping pace with its ambitions.
The prior online application process was cumbersome – especially for non-members. Applicants would start, hit friction, and abandon. As Chief Finance & Administration Officer Jake Darabos explains: “Loan applications were cumbersome and difficult, causing a lot of abandonment. They’d end up somewhere else, probably paying significantly more than they would with a credit union. It was a disservice to the people in the communities we serve.”
Abound’s loan portfolio was also heavily weighted toward indirect, commercial, and real estate loans. Leadership wanted to drive more direct consumer loan growth – but that required a digital experience capable of competing with fintechs and big banks.
The Solution: Technology That Wows Members - and Works for Employees
After evaluating several technology providers, Abound partnered with Clutch. The first impression from Chief Lending Officer Chuck Eads was immediate: “Wow. This is amazing.”
Clutch launched with auto loans, credit cards, and personal loans. The platform’s ability to deliver a personalized, low-friction application experience – while surfacing cross-sell opportunities in-session – aligned directly with Abound’s goals. Beyond member-facing improvements, the platform reduced manual steps for staff, automated document collection, and accelerated decisioning.
Importantly, Abound found a partner as committed to execution as to technology. “The Clutch team was great in the way they led us through the implementation,” the team noted. “The support from Clutch has been phenomenal. They make us feel like we’re their only client.”
With 120+ successful credit union deployments, Clutch’s implementation path was well-worn – making what could have been a complex technology project feel straightforward.
The Results: Every KPI Moved - Then Kept Moving
Clutch delivered on every metric Abound set out to improve. Digital loan applications rose by approximately 50%. Processing turnaround time was cut in half. Pull-through improved. Cross-sell activity increased. And the platform’s success across the initial product set gave Abound the confidence to expand: lines of credit, motorcycle loans, and RV loans were added, and Clutch now supports Abound’s entire consumer lending suite.
The impact extended beyond the numbers. Prior to Clutch, Abound’s lending team was already proud of their responsiveness. After launch, that responsiveness became proactive – staff could surface additional loan opportunities during the application process, not just respond to inbound requests.
Call center staff felt the difference immediately:
“We make initial contact and they’re practically already approved—we’re good to go. We can process them so much faster.” — Lyndsey, Call Center
“It lets me focus on what’s really important. At the end of the day, it’s people helping people.” — Alicia, Abound
“Clutch delivered what they promised – increased digital applications, increased funded loans, better pull-through, more self-served cross-sells. Everything they said would happen, has happened.” — Chuck Eads, Chief Lending Officer
Jake Darabos summed up the broader significance: Clutch “dispels the inaccuracy in the industry that credit unions don’t have the technology that big banks have.”
Ready to Put Your Consumer Lending Program in Turbo Mode?
Clutch works exclusively with credit unions – bringing fintech-grade origination technology built specifically for your mission, your members, and your team.
Contact moc.hctulchtiw@selas