A New Era for Intelligent Lending: Members Choice Credit Union Goes Live with Scienaptic AI
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NEW YORK - Nyenta -- Leading global AI-powered credit underwriting platform provider Scienaptic AI, announced today that Members Choice Credit Union has implemented its AI-based decisioning platform and is now live. This deployment is significantly streamlining the credit union's underwriting process, leading to an increase in approval rates and a notable enhancement in the member experience. Importantly, all these advancements have been achieved while ensuring fairness, inclusivity, and compliance with regulatory standards, which are integral to Scienaptic's AI platform.

Founded in 1932 by steelworkers from Armco Steel, Members Choice Credit Union (MCCU) was established on the principle of "people helping people," with a mission to encourage thrift among its members and provide credit at fair and reasonable rates. In the early 1990s, MCCU expanded its reach to serve additional employee groups, reflecting its commitment to improving the financial well-being of its members and their families. Over the decades, it has evolved into a trusted financial cooperative with six locations, serving the broader Eastern Kentucky community.

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"At Members Choice Credit Union, our philosophy has always been centered around helping members soar financially, no matter where they are in their journey," said Jason Suman, President and CEO at Members Choice Credit Union. "By going live with Scienaptic, we are expanding credit access, streamlining decision-making, strengthening our lending portfolio, and building greater resiliency to navigate uncertain times. The platform is a game-changer and is empowering our team with deeper insights, delivering faster, fairer credit experiences, and ensuring that every lending decision reflects our commitment to member success."

Eric Steinhoff, EVP, Client Impact, Scienaptic AI, expressed, "We're excited to announce that Members Choice Credit Union is now live with Scienaptic. With our platform, Members Choice is enhancing risk assessment, strengthening underwriting consistency, and moving beyond traditional credit scores to uncover more opportunities for members. We're honored to support the credit union's commitment to growth, financial inclusion, and deeper member impact."

About Scienaptic AI

Founded in 2014, Scienaptic AI was built with the mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovation, integrating more data into decision-making, leveraging advanced machine learning algorithms, and supplementing them with rigorous risk and fair lending monitoring processes. This enables financial institutions to reach more borrowers—including underbanked and underserved individuals—and say "yes" more often without increasing risk.

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In September 2024, Scienaptic's Credit Union Service Organization (CUSO) received strategic equity investments from its clients, further strengthening its mission to elevate lending with AI-driven solutions for inclusive loan growth, automation, lifecycle management, and compliance. Today, the CUSO is backed by 10 strategic investors, underscoring Scienaptic's deep commitment to the core principle of "people helping people."

The Scienaptic AI platform plays a vital role in supporting over 150 lenders by enhancing lending accuracy and efficiency. Scienaptic's credit decisioning expertise spans financial institutions collectively managing $3.9 trillion in assets. The platform processes over 3 million credit decisions each month, evaluating loan applications worth more than $3 billion. This enables over 1.3 million underserved individuals every month to access credit opportunities that were previously out of reach. Driven by the growing demand for AI in lending, the company has expanded by over 2,000% in the past three years.

For more information, visit www.scienaptic.ai.