Atlantic FCU cuts loan opening to six minutes with MANTL

The Atlantic Federal Credit Union has cut consumer loan account opening time to six minutes using MANTL Loan Origination, becoming the first credit union to go live on the system.

The New Jersey-based institution said the new process combines consumer lending, membership enrolment and deposit account opening in a single digital workflow. That reduced account opening times from as long as two days and removed several manual steps for staff.

The rollout offers an early measure of how smaller financial institutions are updating their digital lending as consumers expect faster online applications and less paperwork. Credit unions and banks have faced pressure to replace older loan systems that often separate application, identity checks, membership verification and account opening.

The Atlantic reported that 67% of personal loans originated over the past 90 days required no documents from applicants. It also reported an 80% application submission rate for personal loans and said automated reminder emails re-engaged 80% of previously abandoned applications.

Membership checks were built directly into the application process. That matters for a credit union because borrowers usually must meet membership criteria before a loan can be opened, a step that can add delays when handled outside the main application flow.

Process change

The lender serves Essex and Union counties in New Jersey and was founded in 1935. Its revised workflow now handles membership eligibility verification and account creation within the loan application, rather than requiring applicants to move between separate systems or channels.

The redesign also links lending more closely with deposit account opening. It reflects a broader push among financial institutions to create a single digital entry point for products traditionally managed by different systems and teams.

Adam Cadmus outlined the operational impact in a statement about the launch.

"MANTL Loan Origination is enhancing our lending process by enabling us to deliver a seamless, secure, and fully automated journey for members applying for consumer loans," said Adam Cadmus, Chief Experience Officer, The Atlantic Federal Credit Union.

"Today's consumers have more choices than ever, so delivering a frictionless borrowing experience is critical. What we've gained from MANTL is a seamless experience designed to minimize the amount of information applicants need to provide and allows us to scale our lending portfolio. By leveraging MANTL for both deposits and loans, we're creating a unified, end-to-end journey that scales our member experience, creates deeper relationships through cross-sell opportunities, and drives institution-wide growth," Cadmus said.

First deployment

For Alkami, the project marks the first live credit union deployment of MANTL Loan Origination. The Atlantic took part in a development partner programme in which customers worked with Alkami's product and engineering teams while the lending system was being built.

That arrangement gave the credit union a role in shaping the product's design, particularly regarding the need to combine front-end application steps with the internal work involved in onboarding a new member. Financial technology suppliers increasingly use such partner models to test new products with a limited set of institutions before a wider rollout.

Benjamin Conant said customer input played a direct role in the product's development.

"At Alkami, we believe the best products are built alongside the institutions that use them every day," said Benjamin Conant, Chief Product Officer, Alkami.

"The Atlantic FCU has been an exceptional partner in bringing our loan origination vision to life. Their hands-on collaboration and forward-thinking feedback directly shaped the platform, accelerating our ability to deliver a truly modern, automated lending solution. By becoming the first credit union to go live on MANTL Loan Origination, they've demonstrated real leadership and set a new standard for digital lending," Conant said.

Digital pressure

The figures released by the credit union point to two areas lenders watch closely in digital origination: completion rates and document requests. High abandonment rates are common in online lending, especially when applicants are asked to switch channels, upload multiple documents, or repeat information already provided elsewhere.

Reducing those steps can directly affect booked loans and staff workload. If two-thirds of approved personal loan applicants no longer need to provide documents, back-office teams spend less time chasing paperwork and checking files before funding can proceed.

The six-minute opening time is also notable for including membership enrolment. For credit unions, that requirement can complicate online lending when older systems treat membership creation as separate from the loan itself.

Alkami positions MANTL as part of a broader digital sales and service offering in the digital banking space for US banks and credit unions. The Atlantic's implementation shows how vendors are trying to move beyond digital account opening into lending workflows that tie together product application, onboarding and follow-up communication.