In a continued effort to modernize the lending experience for credit unions and their members, Clutch (WithClutch, Inc.) and TruStage announce the launch of Protection Products: Plan Selection, a breakthrough upgrade to Clutch’s digital application platform that automates plan selection, eligibility filtering, and pricing for GAP and Debt Protection/Credit Insurance.
This enhancement builds on the foundation of the Interest Experience and Provisional Quote released earlier last year and marks a major step forward in delivering a fully self-serve, compliant, and efficient loan protection process online.
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Using Clutch’s Protection Products: Plan Selection, applicants applying for a personal loan, auto loan or credit card via a credit union are now able to:
- View live protection options: Eligible plan variations for GAP and Debt Protection/Credit Insurance are fetched in real time from the TruStage Product API, ensuring accurate pricing and compliance-aligned disclosures.
- Understand eligibility instantly: The experience dynamically filters plans based on borrower profile, age, employment status, and other factors, ensuring applicants only see relevant offers.
- Select coverage on the spot: Members can choose protection plans – including who to cover, such as co-applicants – within the same session as their loan application, without requiring a follow-up call.
“This launch reflects our ongoing commitment to driving digital transformation in the credit union ecosystem,” said Corrin Maier, Vice President of Lending Payment Protection at TruStage. “By embedding real-time product selection and automated eligibility into Clutch’s intuitive lending flow, we’re enabling credit unions to serve their members faster, more accurately, and with greater confidence.”
“Manual follow-up has long been a barrier to protection product adoption,” said Tamanna Kottwani, Head of Product at Clutch. “This new capability removes that bottleneck, allowing credit unions to improve attach rates and accelerate funding – all while reducing back-office workload.”
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Key benefits of Plan Selection include:
- Instant Quotes: Applicants see pricing per plan and per borrower instantly, directly from the TruStage API.
- Audit-Ready Tracking: Disclosures are logged, and applicant selections flow directly into the LOS, providing full visibility for underwriting and compliance.
- Faster Closings: If loan terms and amounts are unchanged, staff can proceed without additional outreach, dramatically reducing time-to-funding and increasing attach rates.
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“This release brings us closer to our long-term vision of a seamless, fully self-serve digital lending experience,” said Nicholas Hinrichsen, CEO and Co-Founder of Clutch. “We’re proud to expand our partnership with TruStage™ and empower credit unions with the tools they need to drive member value and operational efficiency.”
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Source : businesswire