Irvine, California, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Origence, the leading credit union lending technology company in the U.S., and Tesla, the largest EV manufacturer in the world, announce a partnership to offer credit union financing to EV buyers through the Tesla website. This partnership will provide Tesla buyers seeking affordable monthly payments with more options through credit union financing.
By making credit union financing available at the point of purchase, EV buyers will have easy access to competitive rates and extended financing terms—both important factors in providing consumers with options to lower their monthly payments.
Consumers shopping for Tesla vehicles are provided financing options when reserving or purchasing a Model Y, Model 3, Model X, Model S, or Cybertruck vehicle through Tesla's website or mobile app. The addition of credit union financing makes convenient point-of-sale financing available to millions of credit union members and consumers seeking low-rate financing options.
Origence will leverage its new licensed subsidiary, FI Connect, to purchase and place retail contracts with partner credit unions nationwide. When a consumer finances their vehicle through FI Connect on the Tesla website, the contract will be purchased and serviced by a credit union.
"Tesla is making their cars more affordable for credit union members with price adjustments," said Tony Boutelle, president and CEO of Origence. "With FI Connect and Tesla coming together, EV buyers can receive affordable financing through credit unions."
To learn how credit unions can become an FI Connect partner and expand their EV lending channels, visit FIConnectLending.com.
Origence provides lending technology solutions credit unions need to advance their total origination experience. We were established in 1994 as a credit union service organization (CUSO) and have helped thousands of credit unions process more than 88 million applications, including 9 million applications in 2022. Our solutions include indirect lending, loan and account origination, auto shopping, marketing automation, lending operations, and more. Origence was named the 2023 CUSO of the year by NACUSO. Learn more at www.origence.com and follow us on X and LinkedIn.
About FI Connect
FI Connect, an independent subsidiary of Origence, brings borrowers, retailers, and credit unions together for convenient financing right at the point of sale. FI Connect streamlines the lending experience for national retailers while offering wallet-friendly credit union financing options to borrowers. It's a better financing experience as we connect and work together. Learn more at www.ficonnectlending.com.
About Credit Unions
Credit unions are not-for-profit, member-owned financial institutions, federally insured for safety. With over 5,000 local credit unions nationwide, 99% of Americans are eligible for membership. Credit unions prioritize personal service and competitive rates due to their member-driven focus. Today, 133 million consumers trust credit unions for financial and lending needs. For more information, visit mycreditunion.gov.
Alison Barksdale Origence 817-219-6281 email@example.com Erin Brooks William Mills Agency 561-693-9471 firstname.lastname@example.org
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