1Click Unfunded is a new type of 1Click offer that allows your credit union to present pre-approved secured loan offers to members – still via online and mobile banking, but without immediate funding and loan creation!
Instead of automatically opening the loan account and disbursing the funds, when your member accepts the offer, a pre-approval letter (provided by your credit union) will appear. The member can then take that letter to the dealership for purchase negotiation. Meanwhile, the application will be in the CU*BASE loan application queue as a pending 1Click offer.
Once your credit union receives the completed paperwork from the dealership, a credit union employee can edit the application to match the closing documents, then book the loan and send the funds to the dealership as usual!
1Click Unfunded will be available for all credit unions beginning Monday, June 10th. Click the button below to visit our online store to learn more about 1Click Unfunded, or to place your order after June 10th.
