Press
TMG Financial Services Partners with CU Direct to Streamline Loan Origination
TMGFS to Use CU Direct’s Lending 360 Loan Origination Platform to Simplify Processes and Advance its Credit Card Services Program
ONTARIO, CA (July 22, 2013) — CU Direct Corporation (www.cudirect.com), the nation’s leading provider of lending solutions to the credit union industry, has announced a new agreement with TMG Financial Services (TMGFS).
As a result of the new agreement, Iowa-based TMGFS, a leading credit card issuer, will be implementing CU Direct’s Loan Origination System (LOS), Lending 360. By using Lending 360, TMGFS will significantly improve the workflows associated with originating, underwriting, and processing new credit card applications.
With over $135 million in assets, TMGFS serves nearly 60 financial institutions and member-based associations servicing more than 65,000 cardmembers.
“As a growing business, we are continually looking for solutions to complement and make our operations more efficient,” said Eric Schurr, VP of Credit and Risk for TMGFS. “Our partnership with CU Direct provides access to an impressive tool that will ultimately strengthen the decision-making processes associated with processing new credit card applications. We expect Lending 360 will integrate seamlessly into our day-to-day operations, which will allow us to continue delivering the top-notch service our partners expect.”
CU Direct’s Lending 360 LOS offers a powerful and configurable workflow engine that will provide TMGFS and their partners with a single, easy to use lending platform designed to fully support credit card application processing. TMGFS expects implementation of Lending 360 to be completed during the third quarter of this year.
“We are looking forward to working closely with TMGFS, one of the nation’s foremost CUSOs and a leader in the card services industry, in providing our highly efficient lending platform and unmatched product support to the industry,” said Tony Boutelle, President/CEO, CU Direct Corporation.
About TMG Financial Services
TMG Financial Services (TMGFS) is known for providing collaborative, innovative and consumer-oriented solutions in the payments industry. From industry-leading funding vehicles to comprehensive credit card programs, TMGFS ensures financial institutions and member-based associations have the tools to thrive in the competitive financial marketplace. TMGFS was ranked No. 340 on the 2012 Inc. 500 list of the nation’s fastest-growing private companies and currently has more than 65,000 cardmembers and $135 million in assets under management. For more information, visit www.tmgfinancialservices.com.
About CU Direct Corporation
Established in 1994, CU Direct Corporation has helped the credit union industry fund over $120 billion loans by being the nation’s leading lending solution provider for credit unions. Representing more than 1,000 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members. CU Direct Corp. offers a diverse, extensive library of products and services designed to help credit unions advance their lending programs and achieve overall portfolio success. Solutions include Lending 360, CUDL, Lending Insights, OnSpot Financing, Vero, and its suite of auto buying products. For more information about CU Direct Corporation and Lending 360 visit www.cudirect.com.