Eagle Community Credit Union cuts underwriting time by more than 65% with Ocrolus
Credit Union | Analyze
Based in Southern California, Eagle Community Credit Union (Eagle) serves approximately 22,000 members and manages over $400 million in assets. To better serve members with non-traditional income, the credit union partnered with Ocrolus, an AI-powered data and analytics platform, to automate bank statement analysis, enhance efficiency and bring consistency to a historically manual process.
Challenge
Manual income analysis using bank statements was time-consuming and inconsistent.
Solution
Ocrolus’ AI-powered platform automated the analysis of bank statements, delivering fast, accurate monthly income summaries.
Result
Teams reduce underwriting time by over 65% and benefit from greater speed, accuracy and consistency.
Challenge
Eagle Community frequently works with members who own small businesses or are self-employed—borrowers who don’t meet traditional underwriting guidelines and often submit bank statements instead of traditional income documents. Prior to partnering with Ocrolus, analyzing bank statement transactions was entirely manual and time-intensive.
"We get a lot of bank statements from members with businesses and it was very hard, prior to Ocrolus, to verify that income," explained Bob Thompson, Chief Lending Officer at Eagle. "We’d have to get six months of bank statements and use a highlighter to determine what we’re adding and what we’re not. It was a difficult process with a lot of inconsistency from one staff member to another."
In cases where tax returns didn’t show the full financial picture, staff relied heavily on bank statements as the primary source of assessing income—adding complexity, variation and manual workload to each file.
Solution
To eliminate the manual work and bring consistency to income analysis, Eagle adopted Ocrolus to automate bank statement analysis and generate standardized income summaries for non-QM loans.
"We use the portal to upload bank statements and within minutes we get the average monthly deposit, which is what we need to determine income,” Thompson said. “It gives us much more consistency than we had before and much more accuracy."
The impact on day-to-day operations has been immediate. "It’s very easy to use and staff love it because it’s saving them so much time to get an application with bank statements out,” he added. “It makes the process so much simpler."
The credit union also gained audit-ready documentation. "Now we’re able to get a printout showing how we calculated income," Thompson explained. "From an audit perspective, it’s much easier to validate what we’re doing, and it just makes sense."
Result
Since implementing Ocrolus, Eagle Community Credit Union has significantly improved the efficiency and reliability of income review for non-traditional borrowers.
“I love using Ocrolus,” Thompson said. “For what we’re spending, we feel it’s a great investment to improve both efficiency and consistency.” Eagle Community is seeing:
- 65% cut in total underwriting time, saving valuable time per application
- Greater consistency across teams, eliminating variation in income calculations
- Improved accuracy and auditability, with standardized outputs for every file
These changes have helped Eagle reduce manual effort, speed up processing and better support members with complex income scenarios.
Why Eagle Community Credit Union recommends Ocrolus
For Eagle, Ocrolus isn’t just a time-saver—it’s a strategic AI platform that helps them scale smartly, maintain consistency and adapt to the needs of modern borrowers.
"It’s made everything faster and easier," Thompson said. "It saves time, reduces errors and gives us confidence in what we’re presenting to decision-makers."
He also sees automation and AI as essential to staying competitive. "Technology is evolving quickly and credit unions have to adapt," he said. "The faster we can review applications using AI, the better we can serve members and stay competitive."
Ocrolus is easy to use, staff love it because it saves them critical time on an application with bank statements.”