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Navy FCU Partners with Bankers System for Business Lending

ST. CLOUD, Minn. - To provide compliance documentation for its newly-launched member business services program, Navy Federal Credit Union has aligned with Bankers Systems, Inc. Navy Federal will use the company's Rembrandt Lending solution for its Navy Federal Small Business Services program. The solution aims to increase the efficiency and...

By Staff Writer | Updated on June 15, 2004

ST. CLOUD, Minn. – To provide compliance documentation for its newly-launched member business services program, Navy Federal Credit Union has aligned with Bankers Systems, Inc. Navy Federal will use the company’s Rembrandt Lending solution for its Navy Federal Small Business Services program. The solution aims to increase the efficiency and productivity of a credit union’s business lending program by simplifying the documentation process for business loans and reduce compliance and operational risks, according to Robert White, president of Bankers Systems and Wolters Kluwer Financial Services. The $21 billion credit union launched Navy Federal Small Business Services program in March. In April, it partnered with Newtek Small Business Finance to make Small Business Administration (SBA) loans available to members. Bankers Systems serves more than 12,000 credit unions, banks, finance companies, mutual fund companies and brokerage firms with its lending, deposit, IRA, customer identification, and anti-money laundering solutions. Navy Federal is the world’s largest credit union serving more than 2.4 million members.

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