Service CU partners with Zest AI to expand credit access

By Leandra Monteiro

Service Credit Union (Service CU), the largest credit union in New Hampshire with $5.3 billion in assets, announced it has partnered with Zest AI, a leader in expanding access to credit through better scoring.

Starting with credit card decisioning, Zest AI and Service Credit Union are deploying a custom credit model enabling the credit union to increase automation as well as the number of approved loans for members.

Zest AI’s custom credit scores use hundreds of data points to determine a member’s creditworthiness, resulting in more equitable and accurate underwriting decisions compared to traditional national scores. This approach safely expedites member approvals and provides greater access for those overlooked by legacy scoring, achieving over 25% higher approvals with no added risk tolerance.

“Zest AI’s technology adds more power to our current underwriting methods, creating a faster lending experience that also allows us to use more data in our underwriting so that we are able to say ‘yes’ to more members’ loan applications,” said Mark O’Dell, VP of Lending at Service Credit Union. “We’re so excited to begin enabling more members in our community with the money they need to make the changes they want to see.”

“True to its name, Service Credit Union upholds a legacy of serving military personnel and their families as well as their surrounding community members. By implementing Zest AI’s AI-driven technology, Service Credit Union can bring their members faster, compliant, and more accurate underwriting decisions — expanding access to credit and enriching the lives of every member that banks with them,” said CEO of Zest AI, Mike de Vere.

Established in 1957 to support military personnel and their families, Service CU has since grown to serve not only active military and veterans, but also families in New Hampshire and those living in the Falmouth, Massachusetts area. The credit union also provides services throughout New Hampshire, North Dakota, Massachusetts, and for active U.S. military serving in Germany.