Communication Federal Credit Union (CFCU), based in Oklahoma City, Oklahoma, has selected Scienaptic AI’s platform to advance its credit underwriting processes and expand credit access for its members.
The credit union is adopting Scienaptic’s AI-powered, regulatory-compliant technology with the aim of achieving faster, more informed lending decisions, streamlining credit processes, and extending lending opportunities to members who have been historically underserved.
Established in 1939 by employees of Southwestern Bell Telephone in downtown Oklahoma City, CFCU has expanded to serve over 120,000 members across Oklahoma and Kansas. The credit union operates through 22 branches and maintains partnerships with more than 250 diverse business groups, including major entities such as OG&E, ONEOK, ONE Gas, AEP/PSO, Chaparral Energy, and AT&T. With $2.2 billion in assets, CFCU has consistently received Bauer Financial Reports’ “Five-Star” rating for 30 consecutive years, recognizing it as a financially strong and well-performing credit union.
Billy McDaniel, Senior Vice President and CLO of Communication Federal Credit Union, commented on the partnership: “Our core mission at Communication Federal Credit Union is to champion our members’ financial success. Scienaptic AI will be instrumental in gaining profound insights into their unique needs and aspirations. This partnership is about more than just approving loans; it’s about proactively unlocking potential, fostering significant growth, and reinforcing our promise to stand by our community with smarter, more inclusive financial solutions for years to come.”
Patrick McElhenie, Chief Growth Officer at Scienaptic AI, expressed enthusiasm for the collaboration: “We are thrilled to partner with Communication Federal Credit Union in their mission to serve their members. Their legacy of trust combined with our adaptive AI will not just streamline their lending operations but fundamentally reshape how credit is extended in the Oklahoma and Kansas communities. We are building a future where every credit decision strengthens both individual lives and the financial fabric of the community itself.”
Scienaptic AI, founded in 2014, specializes in AI-driven credit decisioning with a focus on driving financial inclusion. Its platform integrates extensive data, leverages advanced machine learning algorithms, and incorporates rigorous risk and fair lending monitoring processes. This approach is designed to enable financial institutions to reach a broader range of borrowers, including underbanked and underserved individuals, and approve more loans without increasing risk exposure.
In September 2024, Scienaptic’s Credit Union Service Organization (CUSO) received strategic equity investments from its clients, bolstering its objective to enhance lending through AI-driven solutions for inclusive loan growth, automation, lifecycle management, and compliance. The CUSO is currently supported by 10 strategic investors. The Scienaptic AI platform supports over 150 lenders, assisting financial institutions that collectively manage $3.9 trillion in assets. The platform processes over 3 million credit decisions and evaluates loan applications exceeding $3 billion monthly, contributing to over 1.3 million underserved individuals gaining access to credit opportunities each month. The company has reported over 2,000% growth in the past three years due to increasing demand for AI in lending.
