Georgia United Credit Union Selects FirstClose's End-to-End Digital Home Equity Solution to Streamline Automation, Scale and Enhance Member Experience

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Jun 26, 2023, 09:00 ET

AUSTIN, Texas, June 26, 2023 /PRNewswire/ -- FirstClose, Inc., a leading fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, announced today that Georgia United Credit Union, one of the largest and strongest credit unions in Georgia, has chosen FirstClose Equity as its end-to-end digital home equity platform to meet the demands of its more than 150,000 credit union members.

Serving Georgia since 1958, Georgia United Credit Union is a full-service credit union with a dozen branches across the Atlanta metropolitan area, as well as Athens, Dalton, and Dublin. The organization's purpose-driven commitment in service is the reason Georgia United stands out from other financial institutions and has been recognized by Forbes as a Best-In-State Credit Union for four years in a row.

Using FirstClose Equity, Georgia United Credit Union will be able to reduce its time to close and provide an exceptional member experience for home equity transactions. Borrowers can get feedback on their home valuation, available equity, get prequalified, submit for a loan and receive a conditional approval all within minutes. With this solution, processors have one solution for ordering all required settlement services while never leaving their loan origination system (LOS), eliminating the need for manual data entry.

"Operational efficiency is key to sustainable, long-term member satisfaction," said Andrew Woodman, Senior Vice President of Mortgage Lending and Loan Trading with Georgia United Credit Union. "Our members deserve an elegant, streamlined front-end vehicle to apply for a home equity transaction and achieve transparency. We want members to spend more quality time building relationships with their Home Loan Consultant and ultimately close loans faster which is why we selected FirstClose Equity. It puts us in a better position for those challenges and demands for future success."

FirstClose Equity is a one-of-a-kind home equity origination solution that reduces operational touchpoints and improves the overall customer experience for borrowers. The end-to-end platform includes a borrower-facing point-of-sale solution that gives consumers instant online feedback on their home valuation, available home equity, loan options and delivers credit decisions in minutes. Automated workflows, including the ordering of settlement services, enable lenders to complete the application through closing process in as little as ten days versus the industry average of 45 to 60 days.

"We're excited to power an enhanced home equity experience at Georgia United," said Tedd Smith, Chief Executive Officer of FirstClose. "Providing technology to help their members keep their existing low mortgage rate and tap into their equity at a faster pace, will be a gamechanger."

About Georgia United Credit Union

Georgia United Credit Union is an award-winning financial leader and partner in education. Headquartered in Duluth, Georgia United is ranked as one of the state's largest credit unions with $2 billion in assets and over 150,000 members. As a full-service financial institution, they offer competitive products and services for every stage of life. Visit gucu.org to learn more.

About FirstClose

Headquartered in Austin, Texas, FirstClose, Inc. provides fintech solutions to HELOC and mortgage lenders nationwide. The company's mission is to increase profitability and reduce cost for mortgage lenders. FirstClose makes this possible through offering systems and relationships that enable lenders to assist the lender's borrowers more effectively, reduce closing costs, and ultimately shorten closing times. For more information, visit firstclose.com.

SOURCE FirstClose