Create CU

Creating a durable lending business with Create Credit Union

In an increasingly online world, Create Credit Union (formerly Clark County Credit Union) sought an agile tech partner that could increase automation, accuracy, and help them serve more of their members. Zest AI's powerful technology, smooth integration process, and personalized touch was the perfect match.

The zest AI effect

credit car approval

auto loan approvals automated

personal loan approvals automated

At a glance

Problem

Create Credit Union was forced to shut down loan decisioning automation entirely during the COVID-19 pandemic, and needed to rebuild their process with a more agile, accurate approach that could handle economic uncertainty while reducing bias and serving more members online.

SOLUTION

Create Credit Union partnered with Zest AI to gradually reintroduce automation within their risk tolerance, working closely with the Zest team to optimize policy and remove guardrails that would allow them to lend deeper into middle and lower credit tiers.

RESULTS

Create Credit Union surpassed their pre-pandemic automation levels, reaching 35% for auto loans, 32% for personal loans, and 39% for credit cards, with a clear path toward automating 80% of all decisioning.

Changing times call for agile innovation

Before looking into AI solutions, Create Credit Union automated a quarter of their loan decisioning. When the COVID-19 pandemic closed the Las Vegas strip down for months, they had to take prudent action and discontinue automating loan decisioning. Due to the changing climate and uncertain times, their leadership team knew they had to revamp some of their processes to adapt to an increasingly online world and provide a smooth experience for their members, even in turbulent times. They needed an agile tech partner that could increase automation within their risk tolerance, increase their accuracy, and help them serve more of their members without bias.

Kickstarting their AI journey

Create Credit Union set out an initial plan to increase automation rates to 35% in their first quarter, getting back to and then surpassing their level of automation prior to COVID-19. As they become comfortable with the technology and results, they plan to incrementally increase automation rates. They've been able to reach their first goal with automated approval rates of 35% for auto loans, 32% for personal loans, and 39% for credit cards — surpassing previous capabilities. As they continue to see results and gain insights, they are working closely with the Zest team to optimize their policy and remove guardrails that will allow them to lend into middle and lower tiers without added risk.

A bright future: going deeper with automation

While integrating more automation into their lending process, Create Credit Union is incrementally working towards automating 80% of their decisioning with Zest AI. Their aim is to create a frictionless, automated lending experience, where members can apply or refinance loans at any time, and underwriters can spend their time more effectively on members who need it most. Working closely with the Zest team, they're able to meet these goals at their own pace as they continue on their path with AI.