Credit Union in Indiana Collaborates with Teslar Software Firm
Hoosier Hills Credit Union, a financial institution serving 40 counties in southern Indiana and northern Kentucky, has partnered with Teslar Software to refine their lending operations. This partnership follows Teslar Software's selection by Altamaha Bank and Trust, another financial institution, less than a month prior.
Founded in 2008, Teslar Software offers a Lending Process Automation Platform designed to streamline operations, improve efficiency, and enhance data visibility for community banks and credit unions. The platform aggregates and unifies data in a single system, automating labor-intensive tasks and building efficient workflows customized for individual institutions.
According to Ashley Wilkerson, SVP of Lending Operations at Hoosier Hills Credit Union, streamlining internal processes and enhancing data visibility are key priorities for the credit union. The Teslar platform provides tools and visibility for consistent, rapid processing and collaboration, which aligns with these goals.
Chief Technology Officer at Altamaha Bank and Trust, Shan Venable, stated that Teslar's features and long-term experience integrating with both core and imaging systems fit exactly what they needed. Similarly, Charlie King, Chief Operations Officer at Hoosier Hills Credit Union, described Teslar as primarily an efficiency tool rather than a data and reporting tool.
The benefits of such lending automation platforms can be significant. They offer streamlined processes, improved customer experience, enhanced compliance, cost savings, and data management and insights. If Hoosier Hills Credit Union were to implement a similar platform, these benefits could potentially apply, helping them refine their lending operations by making them more efficient, compliant, and customer-centric.
However, specific details about Teslar Software's platform and its exact benefits to Hoosier Hills CU would require direct information from the company or the credit union itself.
Indirect lending, which enables community financial institutions to grow their customer and member base by teaming up with local businesses for consumer financing of purchases such as outdoor equipment and furniture, is a key aspect of Hoosier Hills Credit Union's operations. The partnership with Teslar Software aims to support these efforts by streamlining lending operations, enhancing exception tracking, and providing both employees and customers with a more unified experience.
Hoosier Hills Credit Union, founded in 1969 as the Bedford Independent Federal Credit Union by workers at the GM Foundry in Bedford, Indiana, currently has more than $895 million in assets and nearly 40,000 members. This partnership marks another step in the credit union's continued growth and commitment to providing excellent service to its members.
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- The partnership between Hoosier Hills Credit Union and Teslar Software, following a similar arrangement with Altamaha Bank and Trust, aims to leverage Teslar's Lending Process Automation Platform to streamline business operations, thereby improving efficiency and data visibility, as key priorities for Hoosier Hills Credit Union.
- The application of such lending automation technologies, like Teslar's platform, in the operations of Hoosier Hills Credit Union could potentially bring significant benefits, such as streamlined processes, enhanced compliance, cost savings, improved customer experience, data management, and insights, making their lending operations more efficient, compliant, and customer-centric.
