Less manual work
Members apply online, on mobile or in branch, and existing members arrive prefilled. Documents are read automatically, so your team reviews exceptions instead of retyping.
HELOC for credit unions
Close home equity lines without leaving the loan file
Algebrik gives credit unions a digital HELOC workflow, from application and valuation to underwriting and digital agreements, inside the LOS you already use for every other loan.
Fig 1Loan file
Each check slides its slab out and lights its lamp4 of 4 checks cleared
Illustrative: a sample loan file, no real data.
One loan file
A HELOC runs from application to disbursement in the same loan file as every other loan. Valuation, liens, title and flood come in, your policy decides, and your people keep the final say.
See it in motion
A HELOC, start to finish
What changes for your credit union
Grow home equity lending without adding risk or paperwork
Four outcomes your lending, risk and operations leaders will care about.
Audit-ready by design
Required disclosures are generated, delivered and time-stamped. Counter-offer notices are tracked against the 30-day rule. Mortgage reporting data is captured as the file moves.
Your policy, in your hands
Credit and product teams change rates, approval rules and thresholds themselves, and test changes before launch. Your people keep the final say on declines and exceptions.
A better member experience
Members can check status, upload documents and message your staff in one portal. One application can also open a new membership and fund the loan.
How it works
From application to funded line in four steps
Where Algebrik removes the waiting and the re-keying.
1
Member applies
Online, on mobile or in branch.
2
Checks run automatically
Credit, identity and property value are checked without re-keying.
3
Your policy decides
Approve, counter-offer, refer or decline. Your team handles the exceptions.
4
Sign and fund
Disclosures and documents are tracked, signed digitally, and the loan is booked to your core.
See a HELOC run on your own lending rules
A short briefing for your lending, risk and operations leaders.
Who it is for
Built for the people who run lending
Grow home equity without adding risk
Your credit and product teams change rates, approval rules and thresholds themselves, and test changes before launch.
Fewer touches per file
Applications arrive prefilled, documents are read automatically, and your team reviews exceptions instead of retyping.
A record ready for review
Disclosures are generated and time-stamped, counter-offer notices are tracked against the 30-day rule, and every decision is logged.
One workflow, your core
Connected to Jack Henry Symitar, Corelation and Fiserv. Other cores are scoped with each credit union.
What it replaces
Close the gap between your HELOC and your loan file
What changes when home equity runs in the same workflow as every other loan.
WorkflowA HELOC process that sits outside the LOS you use for other loansHELOC in the same loan file as auto, personal and card loans
Core bookingRetyping approved loans into the coreBooked to your core without re-keying
Property dataValuation, flood and title handled in separate placesOrdered and returned inside the loan file
DisclosuresTracked by handGenerated, delivered and time-stamped
Policy changesWaiting on a vendor change requestChanged by your credit and product teams, and tested before launch
Common starting points in credit union lending. Yours may differ.
One loan file
Who does what, from application to funds
Algebrik runs the workflow. Your partners plug into the same loan file.
- 1. ApplyMember applies online, mobile or branch. Algebrik captures the application.
- 2. VerifyAlgebrik validates data and pulls credit. Partners run bureau and fraud checks.
- 3. ValueAlgebrik orders the valuation. Partners provide AVM, flood and title.
- 4. DecideAlgebrik applies your rules.
- 5. SignAlgebrik generates documents. The member signs digitally.
- 6. DisburseAlgebrik disburses in tranches. Core posting to Symitar, Corelation or Fiserv.
Your policy, applied consistently
Every application meets the same rules, set by your team
Each step uses cutoffs you configure, so decisions are consistent and easy to explain.
- Every applicationOnline, mobile or branch
- Credit checkCutoffs you set
- Property usePrimary home, second home or investment
- Equity checkSets how much a member can borrow
- ResultApprove, counter-offer, refer or decline. Your team keeps the final say.
Compliance
Built to be reviewed
Generated, delivered, time-stamped
Required disclosures are generated, delivered and time-stamped.
Tracked against the 30-day rule
Counter-offer notices are tracked so none is missed.
Mortgage data captured as you go
Mortgage reporting data is captured as the file moves.
Every action logged
Every decision and user action is logged.
Integrations
Connected to what a HELOC needs
Cores, property data and the loan file in one workflow.
Cores
Jack Henry SymitarCorelationFiserv
Property data
AVM, appraisal, flood and title partners
Other cores are scoped with each credit union.
Questions leaders ask
Straight answers
What home equity products does it support?
Open-end, variable-rate home equity lines of credit, run on the same platform as auto, personal and card loans.
How does it help us stay compliant?
Required disclosures are generated, delivered and time-stamped. Counter-offer notices are tracked against the 30-day rule. Mortgage reporting data is captured, and every decision and user action is logged.
Who controls our lending policy?
Your credit and product teams. They change rates, approval rules and thresholds themselves and can test changes before launch. Your people keep final authority on declines and exceptions.
Will it work with our core?
Algebrik is connected to Jack Henry Symitar, Corelation and Fiserv cores. Other cores are scoped with each credit union.
Can it handle homes held in a trust?
Yes. We set up a trust workflow with your team during implementation, to match your policy.
Ready to offer a faster HELOC?
Tell us who you are and we will arrange a short briefing on your own lending rules.