FOR IMMEDIATE RELEASE
Affordit to Enhance Financial Wellness for Sound Credit Union Members
Sound Credit Union adds Affordit technology to portfolio of member services
TAMPA, Fla., December 17, 2020 — Continuing to build on its momentum, Affordit secured a new partnership with Sound Credit Union (Sound), Washington’s Favorite Credit Union. Located in Tacoma, Washington, Sound will integrate Affordit’s patent-pending technology into its lending process. The Affordit technology will further strengthen Sound’s commitment to its members’ financial wellness by helping them improve their credit profile and access to capital.
“We are excited about our partnership with Affordit and recognize the value it will add to our membership and our team members. Through their technology, we will be able to assist our membership in demonstrating paths to financial freedom and will help put more money back in their pockets. For our team members, it gives them the resource to become product knowledge experts on how our services can make an impact in our members’ daily lives,” said Lyman Williams, Chief Lending Officer, Sound Credit Union.
The Affordit technology will enable loan officers at Sound to optimize a member’s financial wellness and better assist in securing the capital they need, whether it is for a mortgage, an auto loan or a home improvement project. In a matter of seconds, with no additional data entry requirements, Affordit’s technology produces the Affordit Solution Based Outcome™ Report which provides members with real, actional steps that can enhance financial wellness and assists loan officers in identifying the best loan options for applicants.
“Affordit was built on creating this win-win opportunity for the credit union member and the financial institution,” Affordit CEO and Founder Kevin O’Brien said. “For members, it improves their financial wellness and opportunity to secure a loan now or potentially in the future. For the financial institution, our technology is a valuable service offering that increases member retention and other key metrics.”
Since 1940, Sound has helped Washingtonians buy dream homes, purchase new cars and save for rainy days, and continuously gives back to the region it serves, including support for 290 community organizations just last year. Sound has 27 branches in the Seattle area and an additional location opening in early 2021.
On top of its national partnerships with MeridianLink and United Solutions Company, Affordit now has integrated its technology into five financial institutions with a combined footprint in six states and with approximately 50 retail locations.
Founded in 2018, Affordit is a fast-growing fintech company that makes lending more transparent and solution-focused so people can better their lives financially. The company’s patent-pending technology easily connects to existing loan origination platforms and analyzes credit to provide actionable solutions to optimize the customer’s credit profile.
Learn more at Affordit.com.
About Sound Credit Union
Sound Credit Union was founded in 1940 and today is one of Washington State’s largest credit unions. With 27 full-service branch locations throughout the Puget Sound area, Sound provides their nearly 137,000 members with authentic and trusted financial support and services. Sound is driven by the purpose of standing with members, employees and the community through all waves of life.
Learn more about Sound Credit Union at SoundCU.com.