Consumers Credit Union Selects Baker Hill NextGen® as FinTech Partner
2/16/2021 4:23:33 PM
CARMEL, IND (February 16, 2021) - Baker Hill, the leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, announces a new partnership with Consumers Credit Union. The Kalamazoo, Michigan-based credit union has selected Baker Hill NextGen®, Baker Hill’s unified solution, to support its growth, update lending procedures, and leverage member data to enhance efficiencies and member experience.
Consumers is currently celebrating their 70th year since their establishment in 1951. In-office and online, they currently serve more than 108,000 members in western Michigan with 22 locations and over $1.4 billion in total assets. The credit union has averaged 18% annual growth for the past 35 years and looks forward to continuing this trajectory by expanding its services in Grand Rapids and other new markets in 2021. Through its partnership with Baker Hill, Consumers will be increasing their commercial loan volume, managing their portfolio for risk, and communicating with members through online applications and an online portal.
"Our team met with several different providers and after seeing the onsite demos, we were most impressed with Baker Hill's platform," said Steve Owens, chief lending officer for Consumers. "Not only does their company culture align with our own, but their level of transparency and the system's ease of use were also crucial in the decision. We got the chance to communicate with their executive leadership and really felt like they were on our team throughout the entire process."
Consumers' decision to transition to Baker Hill NextGen® will replace an existing technology system. As the team implements Baker Hill NextGen® products, the focus will be on expanding efficiencies across the credit union, along with expanding existing online functionality and mobile presence. Consumers will also leverage Baker Hill's vendor partnership with Compliance Systems Inc.
"Baker Hill is excited for the opportunity to work with Consumers Credit Union to bring even more opportunity to its members," said John M. Deignan, president and chief executive officer of Baker Hill. "The alignment of our two teams in terms of goals and visions for this partnership is incredibly rewarding already."
With over 35 years of industry expertise, Baker Hill is providing guidance and support to both new and existing clients experiencing an increase in demand volume. As financial institutions look to stay sound during a period of increased uncertainty, Baker Hill is also a resource and leader for portfolio risk management systems.
For more information on Baker Hill NextGen® visit www.bakerhill.com.
About Baker Hill
Baker Hill is the expert solution for loan origination, portfolio risk and relationship management, CECL and analytics for financial institutions in the United States. The company delivers a single unified platform with modern solutions to streamline loan origination and portfolio risk management for commercial, small business and consumer lending. The Baker Hill NextGen® platform also delivers sophisticated analytics and marketing solutions that support sound business decisions to mitigate risk, generate growth and maximize profitability.
About Consumers Credit Union
Headquartered in Kalamazoo, Michigan, Consumers Credit Union is a full-service financial institution and a leader in digital banking technology, mortgages and business lending. Consumers has more than $1.4 billion in assets and has averaged 18 percent annual growth for more than 35 years. Locally owned since 1951, Consumers serves more than 108,000 individuals and businesses through 22 offices located in Kalamazoo, Battle Creek, Grand Rapids, Coldwater, Holland, and South Haven, with member access to 30,000 free CO-OP Network ATMs nationwide. For details, visit www.consumerscu.org. Editors, please refer to Consumers Credit Union in short as Consumers, rather than CCU. Thank you!
Haley Williams, Public and Corporate Communications Specialist