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OnSpot Financing Retail & Medical Lending Portal

OnSpot Financing: A new retail & medical lending service for credit unions

Grows and diversifies your credit union’s loan portfolio by providing your members with retail and medical loans.

OnSpot Financing


Diversity is key to maintaining a healthy credit union lending ecosystem. One way to reduce concentration risk and increase profitability is to expand your business to new frontiers with retail lending.

OnSpot Financing from CU Direct allows credit unions to offer point-of-sale (POS) financing at retail and medical offices. Service providers, store retailers or in-home retailers can work with a consumer to submit the loan application electronically, using a secure, easy-to-use web-based portal. No software installation is required by the lender or service provider.

Once the credit union receives the application and makes a loan decision—even after hours—the service provider can print the loan documents on the spot for the customer to sign—and a new loan is born!

OnSpot Financing facilitates credit union retail loans for:

  • Medical services (including dental, cosmetic surgery)
  • Home improvement (such as window replacement, remodeling)
  • Solar power installation
  • Recreation (pools and spas)
  • Vehicle repairs and service
  • And much, much more!

Grow and diversify your credit union’s loan portfolio with higher yield retail loans — most are unsecured, with rates well above today’s auto loan rates. With retail lending, you have the opportunity to deepen your relationships with existing members, while adding new membership growth opportunities.

OnSpot’s tablet-friendly design and intuitive interface is easy to learn and automates the loan approval and funding process.

Credit unions can easily enroll new providers into the OnSpot network using our online e-signature solution (and become their preferred lender in the process). Lenders can elect to work with all providers, or narrow their programs to a small niche market.

OnSpot Financing benefits credit unions, retail providers, and consumers:

  • Helps credit unions develop new business, while adding another benefit to their membership. Using the optional Find a Provider toolkit, members can quickly search for participating retail providers and apply for a pre-approved loan directly through the credit union website.
  • Retailers and service providers gain access to thousands of potential new customers, and eliminate the need to provide lay-away plans or in-house financing. Retailers pay a one-time start-up fee, then a low monthly fee for access to the portal.
  • By providing point-of-purchase financing, retailers and service providers enable their customers to make purchase decisions with confidence, knowing the funding comes from a trusted local source.

OnSpot Financing from CU Direct provides one more way to build and maintain strong local business relationships, and become the preferred financial institution for local retail providers.

Contact us today for a free demonstration or visit


Start the conversation | (877) 744-2835