Purdue Federal Credit Union

Client Profile

Headquartered in West Lafayette, Ind., Purdue Federal Credit Union was founded in 1969 by a group of Purdue University employees searching for a place where they, their families and their fellow employees could save and borrow money safely, confidentially and at a fair rate of interest. With more than 60,000 members nationwide and assets exceeding $700 million, Purdue is driven by superior member service and dedication to the communities they serve. Purdue Federal has been a client since 2005.

Business Challenge

With borrowers nationwide, Purdue Federal Credit Union required a system that eliminates the use of paper and gets members to the closing table faster. With increased interest in cloud-delivered technologies, they also knew they needed a platform that was highly available as well as highly accessible.

How Mortgage Helped

The Loan Fulfillment Center from Mortgage Cadence provided the tools Purdue Federal Credit Union needed to shift to a paperless loan origination workflow, complete with anytime, anywhere availability for their borrowers and their staff. With all necessary functionality in a single system, the credit union now provides on-demand service to their members, wherever they may be. Furthermore, Mortgage Cadence’s compliance-focused product suite enables Purdue Federal Credit Union to provide the correct documents to their borrowers while performing the checks necessary into today’s regulatory environment.

High Performance Delivered

The Loan Fulfillment Center from Mortgage Cadence provides the highly sought after paperless loan origination process. Its internal audit functionality keeps lending teams in check, leading to better adherence to lending policies as well as more thorough regulatory compliance. In addition, the 24/7 availability ensures that Purdue Federal continues to offer a high level of support for their members.

“When we experienced a snowstorm last year and our offices were inaccessible, we still needed to close loans for our members despite the poor weather. With the Loan Fulfillment Center, we were able to work remotely and close loans seamlessly – providing the high quality of service our members expect. This wouldn’t have been possible without the Loan Fulfillment Center.”
VP of Lending
Purdue Federal Credit Union