Another first for credit unions. A one-hour loan button on the home page at PCULA, www.pcula.org .

Postal Credit Union of Los Angeles (Los Angeles, CA; $91 million; 21,000 members), North Island Federal Credit Union (NIFCU) (San Diego, CA; $685 million; 126,000 members), and Santa Cruz County Employees Credit Union, along with about 25-30 other credit unions are offering one hour consumer loan and credit card applications on the Web. The loan application and credit approval are outsourced to AnyTime Access of Sacramento, CA, www.anytimeaccess.com , a provider of 7x24 loan processing services via telephone and the Web. Currently, 95% of their volume is over the phone.

25-30 credit unions now sport this catchy icon
on their Webs courtesy of AnyTime Access.

AnyTime Access, founded in 1989, began offering turn-key loan application taking and processing in 1995. According to the company, the cost for them to process a financial institution’s loan is less than the $90+ that it costs to do it yourselves. They currently have 140 clients, growing at 8-10 per month. Most are credit unions, but a half-dozen banks have signed on with AnyTime Access in recent months. Approximately 25% of the company’s 140 clients are offering one-hour loans on the Web, but that total is expected to grow rapidly.

Users clicking on the 1-hour loan icon go to a private-branded screen on the AnyTime server, www.loans24.com/yourcu .

Speedy loan approvals (1 hour or less) are still a novelty on the Web, having been implemented by only three financial institutions other than the AnyTime Access group. As such, the program could be used as a good marketing and PR tool. But not for too long. We expect that loan approvals measured in minutes will become the online standard within 12 to 18 months. But for today, a one-hour offering could be quite profitable and well-received by customers and members. Contacts: Tom Bollum is CEO, Robert Poloskey is

E.V.P. Sales & Business Development, bpoloskey@anytimeaccess.com , 800.852.4627.

AnyTime Access also provides two private-branded loan calculators for its CU clients: “What will my payments be?” and “How much can I afford?”