by
Catalyst Corporate | Aug 07, 2023
Catalyst Corporate recently launched a convenient digital loan payment service, called CU LoanPay. Designed to empower credit union members with a seamless loan payment experience, this platform simplifies how borrowers interact with their loans in the digital age.
CU LoanPay offers a user-friendly, secure, and efficient solution that caters to the evolving needs of your members. “By leveraging the latest advancements in fintech, Catalyst reaffirmed its commitment to enhancing member satisfaction and convenience while strengthening the bond between credit unions and their members,” said Justin Lutes, Catalyst VP of Correspondent Services.
Harnessing the power of fintech
Through a streamlined interface accessible via mobile device or computer, borrowers have loan payment management at their fingertips. Members can now bid farewell to figuring out how they will make loan payments as the CU LoanPay service empowers them to make timely and secure payments with just a few simple taps.
Enhancing member engagement
Beyond its user-friendly functionality, CU LoanPay is more than just a transactional tool. “It serves as a powerful engagement platform, enabling credit unions to establish stronger connections with their members,” said Brad Ganey, Catalyst Corporate’s SVP and Chief Operating Officer. The service caters to borrowers' preferences by offering flexible payment options, alerts for due dates, and other personalized features tailored to individual needs.
The service features automated emails to remind borrowers when a payment is due. The emails include a CU LoanPay link to initiate payment. This enables credit unions to reduce labor associated with collection efforts and return processing. It can also reduce delinquency rates and improve member satisfaction by helping borrowers better manage their cash flow and avoid late fees.
As the financial landscape continues to evolve, Catalyst's CU LoanPay emerges as a pioneering force that bridges the gap between credit unions and their digitally savvy members. Catalyst aims to bring innovation, efficiency, and enhanced member engagement with this new digital loan payment service.
The future of loan management is here, and credit unions across the nation can now enhance member experience with CU LoanPay, powered by Catalyst Corporate. “Together, they redefine convenience, trust, and efficiency in loan payment solutions, reflecting the vision of a more connected and member-centric financial ecosystem,” concluded Lutes. Watch our CU LoanPay video for a quick overview of this simple loan payment process. For more information on CU LoanPay, contact us today.