The Profit margins that a credit union earns, they give it back to the members in the form of higher deposit rates, lower interest rates, and multiple savings opportunities. These days borrowers shop around before they decide to make a purchase, and Credit Unions can often provide better or equivalent rates for fixed and adjustable loan types as banks. A Credit Union goes through a full loan lifecycle and offers Loan boarding to Post-close services to its borrowers. Although, in recent times, we see many credit unions relying on service providers to manage their operations. That helps credit unions maintain profitability, reduce fixed costs, lower operational risks, increase quality without having to invest in newer technologies for automation.