#3439: Union Credit and MeridianLink Partnership Addresses the Hurdle of 'Memberization'...

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Union Credit’s co-founder and CRO Barry Kirby and James Lubeck, Sr. Director of Business Development, Partner Marketplace at MeridianLink, stopped by the show to discuss the Union Credit and MeridianLink partnership that will end "memberization" as we know it. Barry and James explain.

The partnership will also focus on helping credit unions simplify their lending processes and helping grow their memberships by meeting them where they are at the digital point of sale -- which neutralizes memberization.

The startling stat that clarifies all of this, they mentioned: Gen Z essentially represents 40% of today's population but only 4% of that population are credit union members.

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Q&A summary
What is the main goal of the partnership between Union Credit and Meridian Link?
The partnership aims to simplify the lending process and grow credit union membership, particularly among the younger generation.

What is the significance of the integration between Union Credit and Meridian Link?
The integration streamlines the member experience from application to onboarding, making it easier for credit unions to process new members.

How does the partnership ensure a seamless application process for new members?
Once an application is submitted, it is processed through the existing Meridian Link system without requiring additional setup, ensuring a quick and efficient experience.

What strategies are being employed to meet younger consumers where they are?
The partnership embeds its platform within popular apps like Experian and LendingTree, reaching younger consumers directly in their digital environments.

What are the long-term goals of Union Credit in relation to credit unions?
Union Credit aims to embed its marketplace in checkout experiences at local retailers, connecting consumers with credit unions directly and efficiently.

What unique approach does Union Credit take to eliminate membership hurdles?
Union Credit aims to remove the memorization process required for membership, allowing consumers to join credit unions more easily and access financial products without friction.

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Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.