Aimbridge Financial Services Offers Credit Union Loan Protection Product; Company Among the First to Offer Product on Auto Loans

    DENVER--Sept. 30, 2002--Aimbridge Financial Services, a division of The Aimbridge Group and a provider of insurance and financial programs to credit unions, introduced Credit Union Loan Protection, a debt cancellation instrument designed by Aon Corporation.
    Credit Union Loan Protection is an addendum to an automobile loan contract between a credit union and its member that waves up to six months of auto payments should events, such as unemployment, disability or death occur. The Aimbridge Group is one of the first companies to offer this product for auto loans to the credit union market. Historically, it has only been offered with credit card loans.
    Prior to the creation of Credit Union Loan Protection, credit unions offered Credit Life and Disability Insurance. It covered a member for disability or unemployment for the life of the loan, increasing the cost of the program. Eighty-five percent of all disabilities are concluded within six months. The Bureau of Labor Statistics states the average length of unemployment is 17.1 weeks.
    "If a credit union member purchases Credit Life and Disability Insurance on a 60-month loan and does not become disabled the next day, he or she is paying a great deal of money for that product," said Steve Bentley, chief executive officer and founder of The Aimbridge Group. "Credit Union Loan Protection provides up to six months per occurrence of relief to members if they are disabled or unemployed. In the unfortunate case of death, it pays a lump sum equal to six months worth of payment benefits, which gives the family time to decide what to do with remaining assets. The product is more practical and cost effective than Credit Life and Disability Insurance."
    Credit Union Loan Protection is flexible, too. Members can substitute the six-month life benefit with a full life benefit. They can also add or substitute hospital stay coverage in some states. "Because of the flexibility of this product, we can add or take away benefits from it to meet members' needs," Bentley continued. "Credit Life and Disability Insurance has not changed in the last thirty years and no longer meets the varying requirements of members."
    The Aimbridge Group's national sales force will market Credit Union Loan Protection. For more information on the product, please visit www.culoanprotection.com/info.

    About The Aimbridge Group

    Founded in 1984 and headquartered in Denver, The Aimbridge Group markets financial products, such as auto loans and leases, mortgages and insurance products through partnerships with credit unions. The company, formerly Bentley Networks, Inc., helps their partners attract members and deepen their relationships by providing members with more reasons to do business with their credit unions.
    The Aimbridge Group is comprised of five divisions, including Aimbridge Indirect Lending, Aimbridge Leasing, Aimbridge Mortgage, Aimbridge Financial Services and Aimbridge Automotive Group. While the company is headquartered in Denver, it has remote offices in Tampa, Fla.; Dallas, Texas; Austin, Texas; St. Louis, Mo.; Philadelphia, Pa.; Chicago, Ill. and Charleston, S.C.
    For additional information, write Aimbridge Financial Services, 63 Inverness Drive East, Suite 200, Englewood, CO 80112 or contact Andrea Harris at 1.800.729.3536, ext 7206. Visit its Web site at www.aimbridge.com.