Neches Federal Credit Union faced a major challenge: disparate loan and deposit origination systems that didn’t communicate, causing applications to get stuck in an incomplete queue and leading to poor member experiences, higher operational costs, and lost revenue as members abandoned the process before completion.
By leveraging Clutch, Neches FCU achieved:
50% Faster Approvals
Members received decisions in half the time
Instant Loan & Deposit Completion
Applications finalized in minutes instead of lengthy delays
Nearly Double Look-to-Book Rate
84% increase, significantly boosting funded loans
Zero Incomplete Applications
Eliminated 100+ stalled applications per day
Rapid System Updates
Changes now take days instead of weeks, improving agility
The Challenge
Neches Federal Credit Union struggled with disconnected loan and deposit origination systems that didn’t communicate, causing applications to get stuck in an incomplete queue. Member service representatives had to manually intervene, leading to frustrating member experiences, higher operational costs, and lost revenue as applicants abandoned the process before completion. With inefficiencies mounting, Neches FCU needed a streamlined solution to modernize its lending and deposit origination processes.
The Solution: Clutch’s End-to-End Origination Platform
To address these challenges, Neches FCU implemented Clutch’s loan and deposit origination platform. The transformation was immediate. Approval times were cut in half, allowing members to receive decisions faster, while applications that once took days to process were now completed in minutes. The credit union’s look-to-book rate surged 84%, nearly doubling the number of funded loans. Incomplete applications, once averaging over 100 per day, were eliminated entirely. Additionally, system updates that previously required weeks could now be completed in just days, giving Neches FCU the agility it needed to respond to changing member needs.
What Neches FCU Leaders Say About Clutch
"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’ve increased productivity, and they just love the application.”
— Megan Gallier, Consumer Loan Supervisor
“I would recommend this solution to anyone considering it—we just love it.”
— Kayleigh Wortham, Consumer Lending Strategy Supervisor
Clutch is on a mission to turn credit unions in to Fintechs; helping to make credit unions the obvious choice for every consumer’s financial needs.
To learn more about how Clutch can advance your digital transformation strategy, please contact us at sales@withclutch.com
Our thanks to the team at Neches Federal Credit Unions for sharing their experience with us.