MCUL and WithClutch Partner to Increase Responsible Lending in Michigan
The Michigan Credit Union League (MCUL) announced it will partner with WithClutch, a fintech platform focused on allowing consumers to refinance high-interest consumer loans through an easy and digital process. With the partnership, MCUL will work to bring WithClutch to more credit unions.
Founded by fintech entrepreneurs Chris Coleman and Nicholas Hinrichsen, WithClutch helps credit unions better serve their members by leveraging lower rates via a user-friendly experience.
The software solution allows credit unions to identify high-interest loans that members hold outside the credit union and offer alternative loans reducing members’ interest rates and monthly payments.
“MCUL’s partnership with WithClutch is built on the shared belief that consumers should have access to responsible lending options that foster financial health,” said Renee Werth, EVP of League Services and MCULSC. “WithClutch will help Michigan credit unions’ goal of saving members money and, in turn, helping those members make decisions that put them on the road to financial growth.”
Through its fully automated process, credit unions can originate loans in minutes, reduce the burden on the loan officer and minimize paperwork and increase wallet share with existing members.
In partnership with TruStage, WithClutch specializes in transforming credit unions into forward-thinking fintechs. The company’s mission is to help Americans collectively save billions of dollars on their debt.
