FORUM Credit Union, a $1.8 billion institution headquartered in Indianapolis, Indiana, has achieved a 70% reduction in loan processing times through the deployment of an AI-powered document verification system.
The implementation, which began in late 2025, targeted one of the most time-consuming bottlenecks in the lending workflow: manual document review. Previously, loan officers spent significant time verifying income documentation, employment letters, and identification — tasks that created delays and inconsistent processing times.
"Our members expect the same speed and convenience they get from fintechs, but with the trust and personal service that defines the credit union experience," said the credit union's Chief Lending Officer. "AI allowed us to deliver on both."
The system uses machine learning models to extract, verify, and cross-reference information from uploaded documents, flagging discrepancies for human review while auto-approving clean submissions. The credit union reports that approximately 60% of document packages now require no manual intervention.
Critically, FORUM achieved these gains without adding headcount. Existing staff have been redeployed to higher-value activities including member consultation and complex loan structuring.
The initiative has been recognized as a finalist in the 2026 Innovation Series for AI-Powered Member Experience.