Remember when getting a personal loan meant taking time off work, filling out endless paperwork, and waiting days to hear back?
The Atlantic Federal Credit Union just threw that entire playbook in the trash.
The New Jersey-based credit union has slashed their consumer loan approval process from a painful two days down to a breezy six minutes. That’s faster than most people take to decide what to watch on Netflix.
Here’s the kicker: They’re the first credit union to go live with MANTL Loan Origination, a platform from Alkami Technology, Inc. (Nasdaq: ALKT) that’s basically doing to loan applications what smartphone banking did to standing in teller lines—making the old way seem absurd in retrospect.
The Numbers Don’t Lie
The Atlantic FCU didn’t just shave off some time. They completely rebuilt how consumer lending works, and the results are pretty impressive:
- 80% of people who start a personal loan application actually finish it (that’s huge in the world of digital forms)
- 67% of personal loans booked in the last 90 days required zero document collection—no scanning, no uploading, no “can you send that again?”
- 80% of people who abandoned their applications got re-engaged through automated reminder emails
- The whole process, from “I need a loan” to account creation, averages six minutes
How They Did It
The secret sauce? The Atlantic FCU pulled everything into one streamlined digital workflow. Instead of juggling separate systems for membership enrollment, deposit accounts, and loan applications, they created a single path that handles it all.
Think of it like going from filling out three different forms at three different windows to just having one conversation with someone who actually has all the information they need.
“Today’s consumers have more choices than ever, so delivering a frictionless borrowing experience is critical,” said Adam Cadmus, chief experience officer at The Atlantic Federal Credit Union. Translation: if your loan process feels like homework, people will just go somewhere else.
The platform automatically verifies membership eligibility and creates accounts right within the loan application. No more ping-ponging between departments or asking applicants for the same information multiple times.
Built With, Not Just For
Here’s what makes this story a bit different from your typical “company launches product” announcement: The Atlantic FCU actually helped build the thing they’re using.
They joined MANTL’s development partner program, which meant working directly with Alkami’s engineering teams to shape how the platform works. It’s the difference between being handed software and being asked “what would actually make this useful for you?”
“The Atlantic FCU has been an exceptional partner in bringing our loan origination vision to life,” said Benjamin Conant, chief product officer at Alkami. “Their hands-on collaboration and forward-thinking feedback directly shaped the platform.”
That partnership approach let them challenge old assumptions about how lending has to work and figure out where automation could replace manual busywork without sacrificing the human touch where it matters.
Why This Matters Beyond One Credit Union
The Atlantic FCU isn’t just making life easier for their own members. As the first credit union to implement this system, they’re essentially proving what’s possible when financial institutions prioritize the actual user experience over “that’s how we’ve always done it.”
Six minutes to open a consumer loan account isn’t just a nice-to-have improvement—it’s the kind of speed that changes whether someone bothers applying at all. And in a world where people can comparison shop for loans from their couch, that speed matters.
By connecting loan origination with membership enrollment and deposit accounts, the credit union is also creating opportunities for deeper relationships. Someone who comes in for a personal loan might discover other services they didn’t know they needed—all without making the initial process feel like a sales pitch.
The result? A lending experience that actually fits into modern life instead of asking people to work around banking hours and paper forms. Revolutionary? Maybe not. But definitely overdue.