LoanStar Technologies and CUCollaborate Form Strategic Partnership

A Strategic Alliance

In a significant move to bolster the capabilities of credit unions in serving disadvantaged communities, LoanStar Technologies has teamed up with CUCollaborate. This collaboration is aimed at assisting credit unions in achieving and maintaining their Low-Income Designation and CDFI Certification. This strategic alliance integrates CUCollaborate’s cutting-edge Application Programming Interfaces (APIs) into LoanStar’s merchant lending programs, identifying consumers who help credit unions reach their goals in serving underserved populations.

Enhancing Credit Union Capabilities

Eric Snyder, Chief Revenue Officer at LoanStar Technologies, shared his insights on the partnership, "Our collaboration with CUCollaborate marks a pivotal advancement in enabling credit unions to more effectively serve their communities. By incorporating their innovative APIs into our lending solutions, we’re boosting the capacity of credit unions to meet their community impact objectives, especially in underserved areas."

He continued, “This partnership embodies our commitment to equipping lenders with the necessary tools to make a substantive impact in their communities.”

Fulfilling the People-Helping-People Mission

Sam Brownell, Founder and CEO of CUCollaborate, also commented on the synergy between the two organizations. "Our partnership with LoanStar provides our clients, and credit unions across the country, with additional resources to fulfill the people-helping-people mission of the credit union movement," he noted. Brownell emphasized that “It's lending solutions like those provided by LoanStar that can ensure credit unions are able to achieve their community impact goals through CDFI certification and Low-Income Designation.”

A Forward-Thinking Approach

The integration of CUCollaborate’s APIs with LoanStar’s lending programs represents a forward-thinking approach to community banking, where technology and mission-driven financial strategy converge to enhance service delivery to marginalized areas. This strategic partnership not only supports credit unions in compliance with regulatory requirements but also enhances their capability to conduct meaningful work in their communities.

Learn More and Get Involved

For credit unions looking to deepen their community impact and learn more about the benefits of this new partnership, Ben Hering, Director of Partnerships at CUCollaborate, is available for further information and can be reached at bhering@cucollaborate.com.

This alliance is expected to provide innovative lending solutions that uphold and expand the financial inclusivity mandate of credit unions, ensuring they remain vital players in the economic development of underserved communities.

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