Key Results
- Look-to-rate increased from 13%-24% – nearly doubling funded loans.
- 50% reduction in approval times.
- 100% reduction in incomplete applications.
- Loan and deposit applications completed in minutes, not days.
- System changes now take days instead of weeks.
The Challenge: Disconnected Systems, Stuck Applications, and Members Walking Away
Neches Federal Credit Union was operating with disparate loan and deposit origination systems that didn’t communicate with each other. Applications regularly got stuck in an incomplete queue – requiring manual intervention from member service representatives just to keep the process moving.
The downstream effects compounded quickly. Members experienced delays and frustration. Staff spent significant time on manual follow-up instead of member engagement. And the credit union was losing funded loan opportunities as applicants abandoned the process before completion. With a look-to-book rate of just 13%, the gap between interest and funded loans represented a significant and quantifiable revenue problem.
The operational cost was real. The member experience cost was real. And the competitive cost – members who gave up and went elsewhere – was perhaps the most damaging of all.
The Solution: One Unified Platform for Loans and Deposits
Neches FCU implemented Clutch’s loan and deposit origination platform to replace its fragmented, manual-intervention-dependent process. The goal was a unified system where applications moved seamlessly from submission to decision – without getting stuck, without requiring staff to intervene, and without putting the burden of complexity on the member.
The rollout also addressed workflow agility. Where system changes and process updates previously required weeks of coordination, the Clutch platform brought that timeline down to days – giving the credit union the flexibility to adapt quickly as needs evolved.
The Results: From Stuck to Seamless - Across Every Metric
The results at Neches FCU were sweeping. Incomplete applications – once a daily flood of 100 or more – dropped to zero. Look-to-book rate nearly doubled, from 13% to 24%. Approval times were cut in half. Applications that once dragged on for days now completed in minutes.
But the transformation wasn’t just operational. It was cultural. Staff no longer had to memorize complex workflows or spend their time chasing incomplete paperwork. Productivity improved. And team members across the organization became advocates for the platform.
“If someone else was looking at Clutch…trying to make a decision, I would say do it!” — Jacob Devillier, Chief Member Services Officer
“Clutch has improved our online application process immensely.” — Randy Thompson, VP of Information Systems
“The staff is more efficient, they have increased productivity, and they just love the application.” — Megan Gallier, Consumer Loan Supervisor
“I would recommend this solution to anyone that is considering it – we just love it.” — Kayleigh Wortham, Consumer Lending Strategy Supervisor
See What Unified Origination Could Do for Your Conversion Rates
Clutch’s loan and deposit origination platform helps credit unions eliminate abandonment, accelerate approvals, and convert more applicants into funded members.
Contact moc.hctulchtiw@selas