Michigan credit union leans into AI to streamline loan originations
FinovateFall 2025
NEW YORK – University of Michigan Credit Union is building an AI-driven loan origination system to speed the loan application process and, in turn, boost revenue.
The $1.3 billion credit union is innovating with AI and identifying uses for the technology to generate better returns, Sherry Wu, chief technology officer at University of Michigan Credit Union said Sept. 8 at FinovateFall 2025.
“As a credit union, we want to see those use cases where we can generate greater revenue, and that is one example,” Wu said.
Additionally, the Ann Arbor, Mich.-based credit union is looking to AI for fraud detection and personalized banking experiences, Wu said.
The credit union is working with AI-services provider interface.ai for its AI chatbot and customer service solutions, she said.
The credit union has more than 200 employees and reported an efficiency ratio of 65.1% in the fourth quarter of 2024, down from 82.1% during the same period in 2023, according to BAN’s Efficiency Ratio Dashboard.
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