Business Members Can Now Onboard Online at America First Credit Union via Loquat

Loquat Inc. today announced that business members at America First Credit Union (America First) may now open and fund accounts quickly and easily through a new cloud-based onboarding platform. The solution reflects small business owners’ need for simplified onboarding, and removes paperwork, wait times, and multiple branch visits from the process.

“This marks a new chapter in how we serve our business members,” said Karey Thomas, senior vice president of branch delivery at America First Credit Union. “Opening a business account used to mean juggling paperwork, multiple branch visits, and long wait times. With our new digital platform, members can complete the process quickly and securely — from wherever it’s most convenient with the full support of our staff.”

First announced in July 2024, America First spent the past year integrating and testing the Loquat platform, which will provide a streamlined experience across three key areas:

1. Member experience:
   Fully digital account opening in under 10 minutes, with funding and approvals typically completed within one business day. Members can start and finish applications across web, mobile, or branch channels, with support for sole proprietors, partnerships, LLCs, corporations, and nonprofits.
2. Security and compliance:
   Built-in identity verification, OFAC screening, and layered KYC, KYB, and AML safeguards. AI-driven document capture and validation ensure accuracy and speed.
3. Operational efficiency:
   Through Loquat’s reporting dashboard, employees gain real-time visibility, configurable workflows, and built-in case management tools to support faster reviews, risk oversight, and internal coordination.

“Seeing America First Credit Union go live on our platform is a proud moment for our team,” said Zarina Tsomaeva, founder and CEO of Loquat. “This launch reflects our shared belief that business banking should be fast, intuitive, and built around the needs of real people — not processes. It’s about helping business owners spend less time managing paperwork and more time on what they care about: growing their business.”

America First continues to invest in digital infrastructure that meets the evolving needs of entrepreneurs across Arizona, California, Idaho, Nevada, New Mexico, and Utah. The new business account opening platform is now available online at www.americafirst.com/business and at all America First branch locations.

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 115 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 $22 billion. America First Credit Union is a member-owned, not-for-profit cooperative financial institution dedicated to building communities and helping members do more with their money. Learn more at www.americafirst.com

About Loquat

Loquat Inc. is a financial technology company that provides a modern, cloud-based banking platform for financial institutions. Its end-to-end solution supports digital account onboarding, virtual and digital card issuance, payments, and lending—designed to serve both consumers and small to medium-sized businesses (SMBs). To learn more about Loquat, visit: www.loquatinc.io

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