NAFCU Services announces Open Lending as Preferred Partner for Automotive Loan Decision Platform
ARLINGTON, VA (July 20, 2018) — 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
As part of the National Association of Federally-Insured Credit Unions, NAFCU Services provides funding, educational content, and a portfolio of trusted and vetted Preferred Partners who serve credit unions across the country. Our team of partners deliver groundbreaking ideas and next-gen solutions that enable credit unions to compete, change the status quo, and grow their institutions.
For more information, visit our website and follow us on Twitter and LinkedIn.
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.
