How Alltru Credit Union Achieved Faster Closings and Enhanced Member Experience

Alltru Credit Union, serving more than 39,000 members in the St. Louis, MO area with $360 million in assets, faced a growing challenge in its home equity lending process. The team juggled multiple vendors due to inconsistent and inaccurate title reports, leading to prolonged closing times of over two months. This inefficiency frustrated members and limited Alltru’s ability to compete with faster-moving financial institutions.

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Long closing times meant missed opportunities. In a competitive lending market, borrowers expect a fast, seamless process; if they don’t get it, they may look elsewhere. Alltru recognized that modernizing its operations wasn’t just about internal efficiency—it was essential for member satisfaction, retention, and growth.

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A Seamless Transition to Coviance

Alltru Credit Union turned to Coviance for a better way forward. The onboarding process was smooth and unrushed, despite the urgency of switching platforms before a gap in service occurred. We worked closely with Alltru to design workflows tailored to the credit union’s specific needs, ensuring a seamless transition that set the stage for long-term success.

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Beyond implementation, Alltru experienced ongoing support that exceeded expectations. Coviance’s team provided guidance at every step, ensuring that Alltru could fully leverage the platform’s automation capabilities to enhance efficiency and member satisfaction.

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Our automation features allowed Alltru to move away from manual processes that were slowing down operations. The credit union gained greater control over its lending workflow by centralizing title services and eliminating the need to manage multiple vendors. This helped reduce errors and delays and gave loan officers more time to focus on member relationships rather than troubleshooting inefficiencies.

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Faster Closings, Happier Members

By partnering with Coviance, Alltru transformed its home equity lending operations, achieving measurable improvements:

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• Closing times decreased from over two months to an average of 30 days or less – a shift that drastically improved loan processing efficiency.
• Stronger member engagement – Borrowers benefited from a smoother, more transparent lending process, thanks to Coviance’s Borrower Experience, which improved convenience and communication.
• Reduced operational bottlenecks – Automation removed inefficiencies in title processing, enabling staff to focus on higher-value tasks.
• A new competitive advantage – With significantly faster closings, Alltru now actively markets its improved turnaround times, attracting new borrowers who prioritize speed and ease in their lending experience.

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Faster closings don’t just improve the lending process—they create real financial benefits. A quicker turnaround means loans are funded sooner, improving liquidity and allowing Alltru to serve more members without increasing staff workload.

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Looking Ahead

Alltru Credit Union’s partnership with Coviance underscores the power of the right fintech collaboration. By eliminating inefficiencies, reducing closing times, and enhancing the member experience, Alltru is now better positioned to serve its community and grow its lending portfolio.

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As lending continues to evolve, credit unions that embrace automation and streamlined workflows will be the ones that thrive. Alltru’s experience demonstrates that a thoughtful fintech partnership can be the difference between struggling with outdated processes and offering a best-in-class member experience.

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Ready to modernize your home equity lending process? Book a demo today to see how automation can transform your operations.