Financial Services Industry
Industry: Email Alert RSS FeedA recipe for success: Credit scoring and Cypress Software
Bank News, October, 2004 by Anonymous
Todd Sdmeeman, vice president, consumer JL lending, at UnionBank, a 130-year-old Illinois community financial institution, seems to have found a recipe for success. UnionBank and its parent company, UnionBancorp Inc., based in Ottawa, Ill., provide full-service offerings for their loan and deposit customers, such as home, auto and life insurance, as well as investment services.
The company's market area extends from the far western suburbs of the Chicago metropolitan area across central and northern Illinois to the Mississippi River in western Illinois. With locations in 18 communities, UnionBank has more than $55 million in consumer loans and HELOC balances.
"We started using credit scoring models in 1996 and we were finding that our old system was too costly and not...
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