Loan Plus
Loan Plus is best described as GALAXY's Loan Application System. Using information entered by credit union staff and/or information gathered from the Galaxy Home Banking or Audio Response systems, Loan Plus streamlines the entire loan process from start to finish. Loan Plus users have the advantage of using a complete, concise tool which has the ability to:
Create and revise applicant and application records- Approve loan applications
- Create new credit union members and new loans
- Dependent data
- References
- Credit Bureau reports obtained directly through Loan Plus.
- Loan Plus also includes financial records for the applicant, such as:
- Assets
- Liability
- Income
- Expense Information Savings and Benefits to Credit Unions
Application Records
Application records created in the Loan Plus system are each assigned a unique number developed by the system. More than one application number can be assigned to one applicant. Application records generally contain information about the application, including:
- Application ID and type
- Payment information and codes
- A request summary, which combines the most relevant and current applicant information for easy viewing
The loan application is then ready for printing along with any other.
Information Obtained by Loan Plus
Applicant records created with Loan Plus contain all of the necessary information about the applicant needed to process a loan application, including:
- Applicant's name
- Address
- Telephone numbers
- Date of birth
- Driver's License information
- Delinquent payment information
- Employment information designated forms related to the transaction
Loan Plus Features
- Integrated with NetBranch Home Banking and Audio Response Systems
- Built-in system automation
- The system leads staff through the process
- Customize groups of fields for data input
- Process an application for a nonmember loan
- Displays comments made in the collections package
- Pulls employment information from member record
- Flexible calculations displaying options side-by-side
- Risk-based pricing
- Easy navigation
- Lists all applications by member, social security number, etc.
- Laser generates all loan forms
