New Lending Solutions Co

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Frank Mercer, formerly with Household Auto Finance ( now HSBC Auto Finance), brings together a management team, with more than 75 years of combined consumer lending experience of which more than 50 years is at the senior and executive management levels.  "This management team has the specific expertise needed to take credit union non-prime indirect auto lending to a new level of productivity", says Mercer.  Central to the business model is a streamlined approach to dealer relationship building, dealer communications and training that provides exceptional quality service. The company plans to build an individualized non-prime auto finance program designed to meet the specific needs and tolerance for risk for each credit union and not just implement a "canned" process. CU Lending Solutions will provide each credit union with loan originations, collections and risk management training.  This program is designed to enable any credit union to be in complete control of their non-prime process, allow them to minimize the risk associated with non-prime lending and not have to rely on any third party broker originators.

 

CU Lending Solutions has formed a partnership with FCUL Service Group, Inc.   Keith Hopkins, Vice President, FCUL Service Group says "We have always been dedicated to providing our credit unions with the highest quality products and services, and our partnership with CU Lending Solutions allows us to assist our credit unions by putting controls in place that will allow them to serve a non-prime member with an accurate reflection of risk"

 

"We are quite pleased that our new partners at FCUL Service Group selected CU Lending Solutions, says Frank Mercer.  "Our goal as a long term partner is to deliver the industry best non-prime indirect auto lending practices and policies to meet the needs of each and every member credit union.  As more credit unions are choosing to reach out to this underserved population, we believe that balancing risk and revenue properly can make any transaction gratifying for both the credit union and the consumer."

 

The company will initially have offices located in Florida and California, with plans to open offices in Colorado and Texas in the near future

For more information on how your credit union can begin building a framework and road map to your own non-prime lending program, contact:

Keith Hopkins, FCUL Service Group at 800.342.1266 x1170, or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

Monica Haupt, CU Lending Solutions at 714-335-8226 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

 

 

 

 
Copyright 2007 CU Lending Solutions