CommunityWide Federal Credit Union Taps Scienaptic's AI Platform to Transform Credit Underwriting

NEW YORK - Feb. 10, 2025 - PRLog -- Scienaptic AI, a global leader in AI-powered credit underwriting, today announced that CommunityWide Federal Credit Union, based in South Bend, IN, has chosen its platform to enhance credit access for its member community. By adopting Scienaptic's AI-powered, regulatory-compliant technology, CommunityWide Federal Credit Union aims to make faster, smarter credit decisions, streamline processes, and extend lending to underserved members.

CommunityWide Federal Credit Union was chartered in 1967 to serve the northwest side of South Bend, Indiana, with the mission to provide financial services to residents of modest means. Supported by seed deposits from the Model Cities program, the Catholic Church, and other organizations, the credit union aims to improve the lives of its member community. Over the decades, CommunityWide has grown significantly serving over 71,000 members across Indiana. Rooted in a commitment to financial empowerment, the credit union continues to innovate and expand its services, ensuring accessible, member-focused solutions that promote long-term financial health and stability.

"Our mission has always been to serve our members with integrity, commitment, and a focus on improving their financial well-being," said Andy Burggraf, CEO of CommunityWide Federal Credit Union. "We recognized the need for a full-fledged decision engine that could process applications efficiently while providing intelligent insights to lend deeper and more inclusively. Partnering with Scienaptic AI equips us to make faster, smarter, and more personalized credit decisions. Their platform enables us to reduce approval times, extend credit access responsibly, and uncover opportunities that traditional approaches might miss, all while staying true to our mission of helping members achieve financial success."

Pankaj Kulshreshtha, Founder and CEO at Scienaptic AI, said, "We are excited to support CommunityWide Federal Credit Union in their mission to serve their members more effectively. By leveraging our AI platform, they'll gain powerful insights into member needs, enabling faster, more precise, and inclusive credit decisions. This partnership will enhance their ability to expand access to credit, strengthen member relationships, and deliver impactful financial solutions. We're honored to be part of their journey toward delivering even more value for their community."

About Scienaptic AI

Founded in 2014, Scienaptic AI was built with the mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovation, integrating more data into decision-making, leveraging advanced machine learning algorithms, and supplementing them with rigorous risk and fair lending monitoring processes. This enables financial institutions to reach more borrowers—including underbanked and underserved individuals—and say "yes" more often without increasing risk.

In September 2024, Scienaptic's Credit Union Service Organization (CUSO) received strategic equity investments from its clients, further strengthening its mission to elevate lending with AI-driven solutions for inclusive loan growth, automation, lifecycle management, and compliance. Today, the CUSO is backed by 10 strategic investors, underscoring Scienaptic's deep commitment to the core principle of "people helping people."

The Scienaptic AI platform plays a vital role in supporting over 150 lenders by enhancing lending accuracy and efficiency. Scienaptic's credit decisioning expertise spans financial institutions collectively managing $3.9 trillion in assets. The platform processes over 3 million credit decisions each month, evaluating loan applications worth more than $3 billion. This enables over 1.3 million underserved individuals every month to access credit opportunities that were previously out of reach. Driven by the growing demand for AI in lending, the company has expanded by over 2,000% in the past three years.

For more information, visit www.scienaptic.ai.