CPM Federal Credit Union Goes Live with Scienaptic's Platform Enhancing Fair Credit Access
Initial tests indicate sharp credit risk assessment with equitable, fair, and transparent decisioning
By: Scienaptic AI
CPM Federal Credit Union was formed in 1955 by employees of the Charleston Paper Mill. The credit union started in an old construction shed with a mission to provide affordable loans and deliver exceptional service to the employees of the Mill and improve their financial well-being. Since that time CPM has grown to $580 million in assets, has earned national recognition for financial strength, and delivers better banking to more than 61,000 people throughout the communities served by their network of 11 South Carolina branches and their highly rated digital services.
"At CPM Federal, our unwavering passion is our members' financial well-being. We empower their dreams and aspirations through abundant resources and heartfelt dedication. By going live on Scienaptic's transformative platform, we are elevating our credit decision-making process to a profound level. We believe that Carolina People Matter and this platform empowers us to listen, embrace and weave their unique stories into our credit decision-making process. With improved automation, deeper lending and equitable and fair credit access, we are shaping a future where financial empowerment ignites extraordinary lives," said Lloyd Vail, Senior Vice President of Lending at CPM Federal.
Pankaj Jain, Co-founder and President of Scienaptic AI, expressed his enthusiasm, stating, "We are thrilled that CPM Federal Credit Union is now live on our AI-powered credit decisioning platform, empowering them to provide extraordinary service and value to their esteemed members. Our platform is streamlining their loan decisioning process, unlocking higher approvals, mitigating risk, and amplifying efficiency and elevating the credit experience and expanding credit access for their vibrant member communities of Carolina. Together, we are revolutionizing the landscape of financial empowerment and fostering thriving futures for all."
About Scienaptic AI
Scienaptic AI's mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
Scienaptic-enabled lenders have processed more than 300 million transactions, benefitting millions of borrowers. For more information, visit http://www.scienaptic.ai.
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