Wolters Kluwer Financial Services announced today Clark County Credit Union has used the company’s Rembrandt® Lending System to help grow its commercial loan portfolio to $80 million in just three years.
The credit union, which has $626 million in assets and 6 branch locations in Las Vegas, began using the Rembrandt Lending System to document commercial loans since the inception of its business services program in 2005.
“The thing that impressed me about Rembrandt from day one was the system’s ease-of-use,” said Matt Kershaw, Commercial Loan Officer with Clark County Credit Union. “Rembrandt helps us quickly and easily select the documents we need for each specific business loan transaction. The documents are also in plain language and therefore very easy for our members to read and understand.”
Kershaw expressed a high level of confidence in Wolters Kluwer Financial Services’ compliance expertise and the enforceability of Rembrandt’s documents. The compliance content within the Rembrandt Lending System helps a credit union meet regulatory requirements in all 51 U.S. jurisdictions, something Kershaw said will be useful if Clark Credit Union decides to expand its commercial lending business to additional states.
Kershaw noted the credit union has already begun using Rembrandt to document participation loans with other credit unions in order to accommodate the growth of its commercial loan portfolio.
“We continue to be extremely pleased with the Rembrandt Lending System and the service we receive from Wolters Kluwer Financial Services,” said Kershaw. “The support they provided on the front-end of our relationship is one of the main reasons we chose to work with them and it’s carried through to the back-end as well.”
“Understanding the specific business services needs of Clark County Credit Union and all credit unions is an important part of Wolters Kluwer Financial Services’ philosophy of helping credit unions increase the level and quality of services they can provide to their members,” said Dave Roy, vice president and general manager, Banking, Wolters Kluwer Financial Services.
The Rembrandt Lending solution is built upon the regulatory content, industry knowledge, and decades of experience of Wolters Kluwer Financial Services’ Bankers Systems brand. Financial organizations, regulators, and examiners have associated the Bankers Systems name with leading compliance and operational risk management solutions for decades.
More than 500 U.S. credit unions now use Wolters Kluwer Financial Services’ business lending documents directly or through a Credit Union Service Organization.
For more information on member business lending solutions offered by Wolters Kluwer Financial Services or to view an on-line demonstration of the Rembrandt Lending System, please visit www.wolterskluwerfs.com/Rembrandt or contact your Wolters Kluwer Financial Services account representative.
About Clark County Credit Union
Founded in 1951, CCCU is a not-for-profit credit union serving 38,700 Clark County, City of Henderson, City of North Las Vegas and City of Las Vegas employees, medical professionals, members of Nevada Public Radio (KNPR) and numerous select employer groups. CCCU has assets of $626 million and six branches throughout the Las Vegas valley. More information about CCCU can be found online at www.ccculv.org.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, GulfPak, Desert Document Services, AppOne®, GainsKeeper®, CCH® Capital Changes, NILS INSource®, AuthenticWeb™ and CCH Wall Street.
Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, indirect lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer has annual revenues (2006) of €3.4 billion, employs approximately 18,450 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices