Delivering End-to-End Lending Solutions
OnPoint responds to the needs of community businesses during the pandemic.
“To go from not being an SBA lender to being recognized for PPP origination was an incredible success, but what matters most is that we were able to deliver a much better experience for our members.”
About OnPoint Community Credit Union
- Headquarters
- Portland, Oregon
- Assets Under Management
- $8.4 billion
- Solutions
- Q2 Lending
Challenge
OnPoint Community Credit Union sought ways to improve the member experience during the second round of PPP loans
OnPoint Community Credit Union responded quickly to provide SBA loans through the Paycheck Protection Program during the pandemic's first round of lending. Unfortunately, its "all hand on deck" approach and manual processes significantly limited the credit union's application processing capacity. OnPoint needed a solution to this dilemma to support its community.
Solution
Q2 Lending to the rescue
After evaluating its options, the credit union chose to implement Q2 Lending solutions, which were up and running in just four short days. This allowed for flexible and fast end-to-end lending that not only met account holders' needs – it helped the credit union deepen its relationships with current and prospective members.
Results
With Q2 Lending, OnPoint saw fast results, including:
- A new digital lending system implemented in just four days, giving the credit union the compliance and automation needed to meet PPP requirements
- A significant number of loan originations in the U.S. with 4,486 loans equaling $143,739,035 million, and an average loan size of $32,000
- Official recognition by Oregon’s governor for helping support local businesses
