Tulare County Federal Credit Union Taps Cotribute for Digital Account Opening
April 23 2024 - 7:45AM
Business Wire
~ Credit union deploys advanced digital
onboarding platform to provide members a more modern, intuitive
digital banking experience ~
Cotribute, an award-winning embeddable fintech platform helping
credit unions grow deposits, loans and memberships, today announced
Tulare County Federal Credit Union (Tulare Federal, Tulare,
California) has selected its modular Digital Platform to enhance
the credit unions’ deposit onboarding experience, accelerate
growth, enhance the overall member experience and reduce
operational costs through automation.
Leveraging Cotribute’s modular platform, Tulare Federal can
select the capabilities it currently needs with the flexibility to
add additional modules in the future. The credit union is deploying
the Consumer Account Opening module to simplify the entire account
opening process, provide easy, instant funding options, automate
Know Your Customer (KYC) requirements including sophisticated fraud
detection, anti-money laundering (AML), identify verification, OFAC
checks and Bank Secrecy Act (BSA) requirements. Consumer Account
Opening provides a frictionless, streamlined experience that
automates complex, manual processes, while providing members with a
more engaging experience. Members will now be able to open new
deposit accounts in less than five minutes.
“Our mission is to build valuable relationships with members to
create lifelong financial success,” said Gina Ramos, vice president
of lending at Tulare Federal. “With Cotribute, we can extend our
current technology infrastructure, meet our members evolving needs,
and boost efficiencies across the organization. The sophisticated
design of the platform provides an almost immediate return, giving
us a competitive edge in an increasingly competitive market. This
is a game-changer for our organization.”
Cotribute’s modules reduce operational costs through automation
and seamless out-of-the-box integrations with the credit union’s
existing business applications including its core processor,
digital banking application and loan systems. Tulare Federal can
now access to Cotribute’s comprehensive library of 50+
best-in-class account opening templates. The customizable templates
reduce implementation time by more than 80%, enabling the credit
union to quickly go-to market with new financial products.
Philip Paul, CEO of Cotribute, said, “Credit unions must balance
providing a seamless user experience, while ensuring compliance and
preventing fraud. We are proud to partner with Tulare Federal to
provide its members with instant, digital account opening and a
seamless deposit origination process. Streamlining processes and
automating many of the tedious, back-office workflows enables the
credit union to spend more time doing what it does best, providing
an exceptional member experience.”
About Tulare County Federal Credit Union
Tulare County Federal Credit Union, headquartered in Tulare,
California, has been serving the financial needs of Tulare County
for more than 80 years. Tulare Federal was founded on April 15,
1939, as the Tulare County Teachers Federal Credit Union. In 2002,
the Credit Union expanded to include the entire county, and our
name was changed to Tulare County Federal Credit Union. As a
not-for-profit, member-owned financial institution, all of the
credit union’s profits are returned to members in the form of
higher earnings on savings, lower rates on loans and fewer fees.
The credit union provides the financial products and quality
service that meet its members’ specific needs.
For more information about Tulare County Federal Credit Union
visit www.tularefcu.org, contact the credit union at 300 North K
Street, Tulare, California 93274 or call 559.686.1791.
About Cotribute
Cotribute is an award-winning fintech platform that enables
profitable revenue and member growth for credit unions. Cotribute’s
capabilities include embedded digital account opening, loan
application, member onboarding, smart cross-selling, fraud guard+,
analytics and SEG/community engagement programs. Cotribute’s
clients range from Fortune 500 financial institutions operating
across the US to small regional credit unions. Cotribute is built
on blazing-fast cloud-based micro-services architecture, is SOC2
Type 2 certified, seamlessly integrates with core systems and is on
a mission to deliver beautiful digital experiences to every
member.
For more information, visit www.cotribute.com and connect with
the company on LinkedIn.
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