OCUL Services Corporation and Aimbridge Indirect Lending Provide Convenience to Credit Union Members
DENVER--April 13, 2005--| Three More Ohio Credit Unions Sign onto the Program to Offer Enhanced Member Services |
AIL-Ohio; an auto financing network jointly owned by Aimbridge Indirect Lending, the OCUL Services Corporation (a wholly owned subsidiary of the Ohio Credit Union League) and several Ohio credit unions; recently added three credit unions to its program in the Ohio market.
"Aimbridge was our leading choice for indirect lending providers. Before choosing a partner, our group of credit union professionals reviewed several providers," said Dave Fearing, COO of OCUL Services Corporation. "Aimbridge's group of seasoned professionals paired with its superior technology, credit union expertise, dealer network and outstanding service influenced our decision to have Aimbridge supply the program technology and oversee day-to-day operations."
Heartland Federal Credit Union of Dayton, Harvest Federal Credit Union of Heath, and Parish Federal Credit Union of Toledo, recently joined AIL-Ohio as new indirect lending customers.
"AIL-Ohio's dealer connection and Aimbridge's relationship management with the dealers greatly influenced our decision," said Kelly Schermerhorn, president and CEO of Harvest FCU, $22 million in assets. "Prior to migrating to the program, our credit union convened with three other credit unions to discuss the options. Our group of credit unions decided AIL-Ohio and Aimbridge's benefits would positively impact our indirect lending status. The program is web based, operates in real time, is easy to learn and convenient for our members. Convenience is key to stay competitive."
"AIL-Ohio's program sparked our interest in starting an indirect lending program because it provides all of the best resources," said Mike Davis, credit manager for Heartland FCU, $60 million in assets. "AIL-Ohio's program with Aimbridge technology allows our credit union to offer better services to our members. Our indirect lending program provides convenience to both our members and our credit union. Our members can attain loans directly from the dealers without the hassle of making a separate trip to the credit union, and our employees are allocated more time to spend on other credit union matters."
Many credit unions feel the indirect lending program provides them the opportunity to cross sell members on other services and garner potential new members. According to Davis, 60 percent of originated indirect loans provide new member opportunities.
"After reviewing the program and seeking opinions from other credit union executives, we decided AIL-Ohio was the best solution for our credit union," said Kathleen Kanipe, CEO of Parish FCU, $9 million in assets. "The program's technology is state-of-the-art and it offers members the option to get a car loan anywhere, anytime."
Ann Schmitt, COO of Aimbridge, said, "We have great success in the Ohio marketplace due to our respected reputation and technology platform. Our technology helps credit unions reach out to members as well as provides the opportunity to garner potential new members. With Aimbridge's Indirect Lending program, Heartland FCU, Parish FCU and Harvest FCU are well-positioned with dealers, employees and members. We look forward to contributing to each credit union's growing auto loan portfolio and increased member satisfaction initiatives."
"AIL-Ohio has dealers and credit unions in the southwest, northwest, central and northeast Ohio markets," said Fearing. "AIL-Ohio's objective is to make the best indirect lending technology and dealer management program available to every Ohio credit union. The power of an aggregated credit union market presence is a very strong value proposition for the dealers. Add this to Aimbridge's superior technology and operational support, and Ohio credit unions are well positioned to become a significant funding channel for the state's auto dealers. The power of credit union aggregation also helps drive credit quality. The dealers mutually respect the program and the credit unions. As a result, the quality of paper the credit unions receive is very good. In fact, 81 percent of the indirect loans funded in 2004 were B paper or better."
About AIL-Ohio and Aimbridge
AIL-Ohio; an auto financing network jointly owned by Aimbridge Indirect Lending, the OCUL Services Corporation (a wholly owned subsidiary of the Ohio Credit Union League) and several Ohio credit unions is a subsidiary financing channel of Aimbridge Lending and connects credit unions with automobile loans and leases.
Founded in 1984, Aimbridge markets financial products, such as auto loans, mortgages and insurance products through partnerships with credit unions. The company helps its partners attract members and deepen their relationships by providing members with more reasons to do business with their credit unions.
Aimbridge Lending is comprised of four divisions, including Aimbridge Indirect Lending, Aimbridge Home Loans, Aimbridge Financial Services and Aimbridge Disposition Services. The company is headquartered in Denver and has remote offices throughout the United States.
For additional information, visit www.aimbridge.com.