Tulare County Federal Credit Union Taps Cotribute for Digital Account Opening

April 23, 2024 at 07:45 AM EDT

~ Credit union deploys advanced digital onboarding platform to provide members a more modern, intuitive digital banking experience ~

Cotribute, an award-winning embeddable fintech platform helping credit unions grow deposits, loans and memberships, today announced Tulare County Federal Credit Union (Tulare Federal, Tulare, California) has selected its modular Digital Platform to enhance the credit unions’ deposit onboarding experience, accelerate growth, enhance the overall member experience and reduce operational costs through automation.

Leveraging Cotribute’s modular platform, Tulare Federal can select the capabilities it currently needs with the flexibility to add additional modules in the future. The credit union is deploying the Consumer Account Opening module to simplify the entire account opening process, provide easy, instant funding options, automate Know Your Customer (KYC) requirements including sophisticated fraud detection, anti-money laundering (AML), identify verification, OFAC checks and Bank Secrecy Act (BSA) requirements. Consumer Account Opening provides a frictionless, streamlined experience that automates complex, manual processes, while providing members with a more engaging experience. Members will now be able to open new deposit accounts in less than five minutes.

“Our mission is to build valuable relationships with members to create lifelong financial success,” said Gina Ramos, vice president of lending at Tulare Federal. “With Cotribute, we can extend our current technology infrastructure, meet our members evolving needs, and boost efficiencies across the organization. The sophisticated design of the platform provides an almost immediate return, giving us a competitive edge in an increasingly competitive market. This is a game-changer for our organization.”

Cotribute’s modules reduce operational costs through automation and seamless out-of-the-box integrations with the credit union’s existing business applications including its core processor, digital banking application and loan systems. Tulare Federal can now access to Cotribute’s comprehensive library of 50+ best-in-class account opening templates. The customizable templates reduce implementation time by more than 80%, enabling the credit union to quickly go-to market with new financial products.

Philip Paul, CEO of Cotribute, said, “Credit unions must balance providing a seamless user experience, while ensuring compliance and preventing fraud. We are proud to partner with Tulare Federal to provide its members with instant, digital account opening and a seamless deposit origination process. Streamlining processes and automating many of the tedious, back-office workflows enables the credit union to spend more time doing what it does best, providing an exceptional member experience.”

About Tulare County Federal Credit Union

Tulare County Federal Credit Union, headquartered in Tulare, California, has been serving the financial needs of Tulare County for more than 80 years. Tulare Federal was founded on April 15, 1939, as the Tulare County Teachers Federal Credit Union. In 2002, the Credit Union expanded to include the entire county, and our name was changed to Tulare County Federal Credit Union. As a not-for-profit, member-owned financial institution, all of the credit union’s profits are returned to members in the form of higher earnings on savings, lower rates on loans and fewer fees. The credit union provides the financial products and quality service that meet its members’ specific needs.

For more information about Tulare County Federal Credit Union visit www.tularefcu.org, contact the credit union at 300 North K Street, Tulare, California 93274 or call 559.686.1791.

About Cotribute

Cotribute is an award-winning fintech platform that enables profitable revenue and member growth for credit unions. Cotribute’s capabilities include embedded digital account opening, loan application, member onboarding, smart cross-selling, fraud guard+, analytics and SEG/community engagement programs. Cotribute’s clients range from Fortune 500 financial institutions operating across the US to small regional credit unions. Cotribute is built on blazing-fast cloud-based micro-services architecture, is SOC2 Type 2 certified, seamlessly integrates with core systems and is on a mission to deliver beautiful digital experiences to every member.

For more information, visit www.cotribute.com and connect with the company on LinkedIn.