Redstone Federal Credit Union Selects Zest AI

Redstone members to see better, faster credit access

Redstone Federal Credit Union, one of the 20 largest federal credit unions in the U.S. with more than $8 billion in assets, today announced it has partnered with Zest AI, a leader in software for AI-driven lending. Redstone worked with Zest AI to build and deploy a custom AI credit model that will allow the credit union to increase automation and safely approve more members for auto and personal loans.

Models built with Zest use more data and better math than legacy models to provide a more accurate risk ranking while maintaining compliance, giving partner institutions the confidence to auto-decision loans faster, especially via digital channels. This frees up loan and underwriting staff to focus on delivering high-touch service credit unions like Redstone is known for. Credit unions using Zest often achieve far more inclusive loan approvals and five-fold increases in auto decisioning rates, thanks to the deeper insights drawn from thousands of standard credit variables.

“We’re consistently looking for opportunities to do more for our members,” says Ericka Gorman, Sr. Vice President/Chief Lending Officer, Redstone Federal Credit Union. “Using our new model built with Zest, we will be able to approve more loans without increasing overall risk and provide decisions even faster than we do now. We are excited about this opportunity and look forward to delivering more value for our members.”

Headquartered in Huntsville, Alabama, Redstone has branch locations in the Tennessee Valley and Middle Tennessee Region. It offers a wide variety of personal and business checking and savings accounts, in addition to loans and mortgages, credit cards, investments, and insurance. Redstone was named among GOBankingRates’ Top 100 Banks & Credit Unions for 2022.

“We’re honored to work with Redstone to bring AI-driven lending to their members, reinforcing the important link between faster decisions and the membership experience that is central to enriching the communities they serve,” said Mike de Vere, CEO of Zest AI. “Together we’ll achieve their goal of delivering more “yeses” to their members and will empower communities through more inclusive lending.”

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