Members Choice Credit Union Partners with Scienaptic to Revolutionize Credit Underwriting and Fraud Prevention

NEW YORK--(BUSINESS WIRE)--Scienaptic AI, a global leader in AI-powered credit underwriting, today announced that Members Choice Credit Union, based in Kentucky, has chosen its platform to enhance credit access for its member community. By adopting Scienaptic’s AI-powered, regulatory-compliant technology, Members Choice Credit Union aims to make faster, smarter credit decisions, streamline processes, and extend lending to underserved members.

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.

"For 93 years, we’ve stood by our members, not just as a financial institution but as a partner in their dreams, keeping member experience at the center of every service we provide,” said Jason Suman, President, and CEO at Members Choice Credit Union. “With Scienaptic’s platform, we are moving beyond manual processes to embrace automation, ensuring greater consistency, efficiency, and fairness in our lending operations. Scienaptic’s advanced reporting and analytics capabilities stood out to us, offering insights that will help us better serve our members across the entire credit spectrum. Additionally, the platform will enhance our ability to fight fraud effectively while maintaining a seamless experience for our members. This partnership marks a new chapter in our journey to empower our members and strengthen our community.”

Gregory Bishop, Director of Business Development at Scienaptic AI expressed, “We are thrilled that Members Choice Credit Union is embracing the power of our AI. By leveraging our platform, Members Choice will gain deeper insights into their members’ financial behaviors, enabling them to offer more tailored and inclusive credit decisions. The platform will not only enhance their decision-making—it will empower them to better anticipate and meet the evolving needs of their members. We’re excited to see how our technology will help Members Choice Credit Union foster even stronger relationships with their members, driving growth and financial well-being in the Kentucky community for years to come.”

About Scienaptic AI

Founded in 2014, Scienaptic AI was built with a mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovations, integrating more data into decision-making processes, utilizing 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.

In Sep 2024, its Credit Union Service Organization (CUSO) received strategic equity investments from six of its credit union clients. It underscores Scienaptic’s unwavering commitment to the credit union community and its guiding principle of "people helping people."

Today, over 150 lenders rely on Scienaptic’s platform to enhance the accuracy and efficiency of their underwriting decisions. Scienaptic-enabled lenders have processed over $80 billion in credit decisions and 400 million transactions, expanding credit access for millions of underserved individuals.

For more information, visit www.scienaptic.ai.