Digital Federal Credit Union Doubles Loan Volume With Technology

Digital Federal Credit Union (DCU), the largest credit union in New England, has achieved an 85% boost in loan productivity since implementing the Blue Sage Digital Lending Platform last year.

While higher interest rates are curtailing many lenders’ businesses, during the first six months of 2022, DCU doubled its loan volume using the Blue Sage platform. In addition to purchase loans, DCU is now using Blue Sage for home equity loans, including home equity lines of credit (HELOCs).

DCU, which has more than 1 million members and manages more than $9.9 billion in assets, chose Blue Sage to replace its loan origination and point-of-sale (POS) software, which was built on older technology and could not be easily integrated with the credit union’s other mortgage-related systems. The older platforms were much more disjointed, creating an inconsistent borrower experience for members.

With the highly configurable Blue Sage Digital Lending Platform, DCU was able to centralize all its mortgage-related technology and create a highly engaged, seamless user experience for its loan officers and borrowers. More importantly, DCU was able to accelerate its loan production and close more loans faster while reducing overtime costs.

“With Blue Sage, we are finally leveraging automation to its fullest potential,” said Jason Sorochinsky, DCU’s vice president of mortgage lending. “Blue Sage gave us more than 70 automated processes, including automated tools that help our members apply for loans on their own. As the hub of our mortgage ecosystem, the Blue Sage platform is the perfect complement to our ongoing digital transformation efforts and has made loan production completely frictionless—and our loan officers are happier than ever, too.”

“We are delighted that our technology has helped DCU achieve such success in spite of today’s rather tough lending environment,” said Carmine Cacciavillani, president and founder of Blue Sage. “Because the Blue Sage Digital Lending Platform is built on modern technology, delivered through the cloud, and can be customized for any credit union or lender’s business, it’s the perfect system for any market. We look forward to continuing to work with DCU and ensuring their long-term success.”