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Financial Resources Federal Credit Union Goes Live With Scienaptic’s AI Platform

Increased automation will continue to support Credit Union’s Growth and Mission

Incorporating AI into Strategic Roadmaps Of Credit Unions



Dec 6, 2023

Leading global AI-powered credit decision platform provider,Scienaptic AI, announced today that Financial Resources Federal Credit Union is live on its AI-powered credit decisioning platform. As part of the deployment, Scienaptic’s AI platform was integrated with the credit union’s Loan Origination System (LOS), resulting in fair and compliant AI-enabled decisions with greater speed and accuracy. This deployment is significantly streamlining and automating Financial Resources FCU’s underwriting process, which will allow for more and faster approvals, as well as significant improvements to the Members’ experience. Importantly, all these advancements are being realized while ensuring adherence to the principles of fairness and inclusivity, and maintaining compliance with regulatory standards, which are integral to Scienaptic’s AI platform.

Financial Resources Federal Credit Union headquartered in Bridgewater, New Jersey, has been in business for over 100 years. Formerly the Ethicon Employees Federal Credit Union formed by a group of Johnson & Johnson employees, FRFCU is now one of the largest Credit Unions in New Jersey with $600 million in assets. The Credit Union offers a variety of financial products and services to over 26,000 members in the communities of the greater New Brunswick, Somerset and Union County NJ areas.

“With a legacy spanning over a century, our commitment remains steadfast. We aspire to broaden the reach of high-quality products and services, ensuring fair and equitable access for all, as we move forward into the future,” said Frank Almeida, President & CEO of Financial Resources FCU. “By going live on Scienaptic's credit underwriting platform, we're not just embracing innovation, we're streamlining our lending processes and providing faster, more accurate loan decisions for our members. Blending our hundred-year tradition of prioritizing members using advanced AI technology accelerates the pace of credit access and financial inclusion with enhanced precision. Our members are always at the forefront, and the deployment of Scienaptic’s AI platform is a clear demonstration of our unwavering commitment to fostering progress and delivering superior experience.”

“We are delighted to enhance the underwriting processes of Financial Resources Federal Credit Union with our industry-leading AI platform,” expressed Pankaj Jain, Co-founder and President of Scienaptic. “Being part of this game-changing disruption that is unlocking new possibilities for members is immensely gratifying. Beyond expediting loan approvals, the AI platform is empowering the credit union to elevate the member experience, mitigate risk, and extend its services to a wider community.”

About Scienaptic AI

Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.

The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.

Scienaptic-enabled lenders have processed more than 200 million transactions, benefitting millions of borrowers. For more information, visit

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