LendKey offers credit unions easier access to prime consumer loan participations
LEVERAGE partners with leading lending-as-a-service solution
BIRMINGHAM, AL (September 26, 2017) — Through a newly announced LEVERAGE partnership with LendKey, the leading lending-as-a-service provider to more than 285 financial institutions, credit unions have easier access to prime consumer loan participations. Focused on the $300 billion home improvement market, credit unions can gain access to loans made to prime homeowner borrowers and benefit from multiple tactics to further mitigate risk.
LendKey’s unique solution allows lenders access to participation loans on a recurring basis, which minimizes on-going diligence and maximizes access to new loan volume. Lenders benefit from fractional ownership in loans, which broadens their portfolio and enhances risk mitigation.
“We are pleased to introduce credit unions to this turnkey loan participation program that provides credit union access to high-quality loans with a strong focus on risk mitigation,” said Steve Willis, SVP/COO of LEVERAGE. “This solution can make a tremendous impact on the bottom line with a trusted partner to ensure this is a solid investment in the future.”
Its newest program focusing on home improvements launched in early 2017. To-date, LendKey has helped credit union and bank partners disburse more than $1.7 billion to prime borrowers.
LEVERAGE, the Service Corporation for the League of Southeastern Credit Unions & Affiliates, is the business services provider that leverages credit union system resources, relationships, and industry knowledge for optimal performance and sustained growth of its clients and business partners. We work to offer credit unions best-in-class products and services that result in reducing costs, maximizing results, and making the most difference. For more information, visit myleverage.com or follow LEVERAGE on Facebook and LinkedIn.