Canadian Lending Technology Firm's First U.S. Clients are Credit Unions

TORONTO, Ontario, Canada – HomeBank Technologies Inc., a provider of Web-based and other automated lending gear, has landed its first clients south of the border, and they’re credit unions. Three-year contracts for the company’s LoanStation solution have been inked by $210 million KEMBA Financial CU in Columbus, Ohio, and $18 million Pagoda FCU in Reading, Pa. HomeBank Technologies said the LoanStation platform is targeted for the U.S. market. The company’s ProLender platform already is in use by more than 75 Canadian credit unions. “We believe the LoanStation software will allow us to cut our processing time in half, while providing our associates with the tools to effectively sell our members the loan products and insurance coverage they need. We’re also very excited about the seamless interface we will be building together to connect our core Symitar system to the LoanStation platform,” said Gerald Guy, KEMBA Financial’s CEO. Deb Guthier, CEO of Pagoda FCU, said, “We have spent years trying to find a loan processing system that would meet our needs in both functionality and price. Our goal is to cut the time in processing a loan application from sometimes hours to a matter of minutes. We believe we have found that system with LoanStation.”