Center Parc Credit Union Streamlines Loan Payments

Center Parc Credit Union has consolidated the way it handles loan payments, adopting Alacriti's Orbipay Loan Payments platform to replace fragmented processes with a single system.

The credit union said the change gives members one self-service destination for making loan payments, instead of sending them through separate channels depending on the product or the task at hand. That kind of fragmentation is a frequent complaint among borrowers who increasingly expect to manage their accounts online rather than calling a branch or waiting on hold for assistance.

The move reflects broader pressure on credit unions and community lenders to modernize their payments infrastructure. Members now compare their institution's digital experience with those offered by large banks and fintech apps, and a clunky payment journey is an easy way to lose them. Fewer underlying systems can also mean less manual reconciliation work behind the scenes for staff.

Center Parc added that it is preparing for instant payments, positioning itself for a payments landscape in which money moves in seconds rather than over days. The announcement did not include a timeline, cost figures or specific transaction volumes.