Majority of business members now start online as onboarding times drop from days to minutes

RIVERDALE, Utah, Nov. 21, 2025 /PRNewswire/ -- America First Credit Union (AFCU) today announced strong early results from its new digital business account platform, which lets small business owners open and fund accounts in minutes instead of days.

Developed in partnership with Loquat, Inc., the platform simplifies how entrepreneurs and local organizations begin banking with America First. Applicants can now complete the process entirely online, through the AFCU mobile app, or at any of the credit union's 116 branches across six states. Within the first month, online business banking applications increased by 400 percent.

"Our business members have told us they need tools that move as quickly as they do," said Kimberli Green, vice president of Business Services at America First Credit Union. "This new experience gives them flexibility to start and finish their account setup wherever they are — on a phone, a laptop, or in-branch — without sacrificing the personal service that sets us apart."

Early feedback from both members and employees has been overwhelmingly positive, citing faster approvals, easier document uploads, and improved transparency throughout the process. Some applicants have completed the entire process in as little as five minutes.

"Something that used to take days can now be done in under five minutes," one AFCU business services employee said of the new application process. Members agreed, with one saying, "The online app was the easiest I've ever filled out."

The digital expansion supports AFCU's broader commitment to helping small businesses access financial services that save time and increase convenience. The platform supports a variety of business types, including sole proprietorships, LLCs, partnerships, and nonprofits, and integrates advanced verification tools for secure onboarding.

"Our collaboration with America First Credit Union shows how smart technology can simplify even the most complex banking workflows," said Zarina Tsomaeva, CEO at Loquat. "By combining intuitive design with advanced verification tools, we are helping business owners get up and running faster and with greater confidence—removing the slow manual processes that have held the industry back. We are grateful for our partnership with America First and look forward to supporting their efforts in bringing efficient automated services to their business members."

America First Credit Union provides business members with digital tools, lending solutions, and personalized service designed to simplify operations and support long-term growth. The digital expansion reflects the credit union's commitment to helping businesses access financial services that save time and increase convenience. The platform supports a variety of business sizes and structures — such as sole proprietorships, LLCs, partnerships and corporations — and integrates verification tools for secure onboarding. Business owners can learn more online.

About America First Credit Union
Now in its 86th year, America First Credit Union has grown from a single branch serving military personnel and federal employees into one of the strongest and most progressive credit unions in the country. The credit union is the largest in Utah and has 116 locations across Arizona, California, Idaho, Nevada, New Mexico and Utah. It is also the fifth largest credit union in America with more than 1.5 million members, and the sixth largest in assets with more than $23 billion. America First Credit Union is a member-owned, not-for-profit cooperative dedicated to building communities and helping members do more with their money. Learn more at americafirst.com.

About Loquat
Loquat Inc. is a fintech innovator enabling banks and credit unions to offer smart consumer and business banking solutions to their customers and members. The platform provides seamless KYC/KYB, fast onboarding; virtual cards; automated lending; an integrated portal for fraud detection, compliance monitoring, workflows, and analytics (CALM); a proprietary Loquat IQ AI solution utilizing FI data for strategic insights with interactive chat and continuous learning to enhance performance.

To learn more about Loquat, visit: www.loquatinc.io

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SOURCE America First Credit Union