Market Overview

NAFCU Services Announces Open Lending as Preferred Partner for Automotive Loan Decision Platform

Share:

NAFCU Services has selected Open Lending, LLC, a nationwide provider of
automated lending services, as the Preferred Partner for their
Automotive Loan Decision Platform. Open Lending joins the distinguished
group of NAFCU Services Preferred Partners, carefully selected by three
panels of leading credit union CEOs.

The Lenders Protection Program is a unique automotive lending program
for direct and indirect loans that empowers credit unions to increase
near- and non-prime automotive loan volumes and yields without adding
risk to their loan portfolio. Lenders Protection combines sophisticated
risk-based pricing models, configured to each lender's individual cost
factors and financial targets, with loan default insurance provided by
two AM Best "A" rated third party insurance companies.

"Open Lending brings an extremely valuable and trusted solution to
credit unions, giving them the crucial ability to confidently approve
more automotive loans. This platform improves member satisfaction and
protects the financial institution's assets. We are very proud to
partner with such an innovative and driven company," said Randy Salser,
President of NAFCU Services Corporation.

"We are thrilled to join forces with an organization so committed to
strengthening credit unions. Since our earliest days, credit unions have
been an integral part of who we are, who we serve, and how we develop
our products. We are proud to partner with the NAFCU community, and to
continue offering our knowledge base and services to the industry,"
stated John Flynn, Co-Founder, President, and CEO of Open Lending.

About NAFCU Services

NAFCU Services is a wholly-owned subsidiary of the National Association
of Federally-Insured Credit Unions (NAFCU). For over 40 years, NAFCU
Services has been connecting credit unions to the best industry
partners. These companies deliver vetted solutions in areas such as
technology, security, risk management, operations, insurance, payments,
and more. Combined, these partners support virtually 100% of all credit
unions. For more information, visit www.nafcu.org/nafcuservices and
follow on Twitter.

About Open Lending

Founded in 2000, Open Lending, LLC works exclusively with automotive
lenders by providing loan analytics, risk-based pricing, risk modeling
and automated decision technology. Based in Austin, Texas, the company
services over 365 financial institutions nationwide. To learn more about
Open Lending, visit www.openlending.com
and follow on LinkedIn,
Facebook,
Twitter,
and Instagram.

View Comments and Join the Discussion!