LoanStar and TruMark Financial Credit Union partner for local lending program
FORT WASHINGTON, PA (October 1, 2019) — LoanStar Technologies and TruMark Financial Credit Union have agreed to launch a consumer-friendly lending program through local merchants in the five county Philadelphia area. The goal of the program is to give consumers responsible options to finance home improvements Traditionally, the consumer has been limited to high interest and fee credit card and finance company offers. As a not-for-profit financial institution, TruMark Financial positions their products to benefit a members’ financial well-being. Steve Olson, Chief Lending Officer at TruMark Financial said, “Pairing local small businesses with a local financial institution drives a level of service and familiarity that Philadelphians would expect and helps us to create lifetime relationships for the credit union and small business. The LoanStar technology allows for the consumer to work directly with the credit union, while the small business leverages our lending program to make the home improvement affordable over time.”
“Our partnership with TruMark Financial will allow us to focus on improving consumer finance options in our backyard,” said Andrew Turner, CEO at LoanStar, “The partnership with TruMark Financial gives us an opportunity to get direct feedback in real time on member experience and new product features.” LoanStar offers state of the art technology to connect lenders to borrowers through their merchant in home improvement, elective medical, consumer durable, renewable energy and non-auto vehicle businesses.
About TruMark Financial Credit Union
TruMark Financial® is one of the strongest, most progressive credit unions in the nation, offering a full range of banking, investing, and insurance services to more than 140,000 members in Southeastern PA. Founded in 1939, TruMark Financial is headquartered in Fort Washington, PA., and has approximately $3.06 billion in assets through its 24 branches, Call Center, and a suite of innovative online and mobile banking services.
To learn more about TruMark Financial, visit www.trumarkonline.org or call 1-877-TRUMARK.
About LoanStar Technologies
LoanStar Technologies is a Philadelphia-based FinTech company that enables banks, credit unions and other lenders to create point-of-sale consumer loans. Using their proprietary MerchantLinQ platform, LoanStar has created a streamlined, technology-driven system to quickly and easily create loans as a consumer-friendly alternative to high-interest white label credit cards. For more information, visit loanstartechnologies.com.