FAIRFAX, VA - August 22, 2005 – FedComp Inc., provider of core data processing software and systems to more than 1,200 Credit Unions, and MeridianLink have just announced a new technology alignment that integrates MeridianLink’s product, LoansPQ, (a comprehensive and customized financial services solution for credit unions, provides a single-point integrated solution for automated lending and member services)  into FedComp’s system.  An online automated lending and decisioning tool, LoansPQ seamlessly blends the secure credit technology of MeridianLink with TNG, the data processing and accounting suite of FedComp.  Credit unions can now offer improved banking services to its members with automated lending services, instant response to new loan applications, real time account balances, and online requests for services.  Members will have automated loan officer interaction, while credit union management can have valuable online supervision of loan officer activities

Through the credit union’s private-labeled, user-friendly and secure website, members can apply for credit cards as well as personal, auto, and mortgage loans and find out if they pre-qualify within seconds of submitting their online application.  This allows credit unions to have fully integrated services within a single point of integration.  LoansPQ replaces the complex, costly, and slower response solutions from multiple vendors, which require ongoing coordination and updating.

 “We are very excited about our partnership with MeridianLink,” says Derrick Smith, President of FedComp, “because we can now enable credit unions to be a competitive one-stop financial shop for its members, and at the same time, keep the technology costs low and affordable.”  

When a credit union is not able to consolidate credit information for its members, redundant costs and inefficiencies are created, increasing the cost of doing business.  LoansPQ eliminates this by seamlessly integrating the member’s credit data in real time for loan processing through any internet connection.  This provides a streamlined path for automated decisions that are sent immediately to the applicant and branch