Aimbridge® Lending Solutions’ Credit Desk Support Reaches Its 50th Customer
ENGLEWOOD, Colo.--Aimbridge® Lending Solutions, an integrated provider of multi-channel, multi-lender auto buying and lending services, announced today that 50 credit unions across the country are now live with Credit Desk Support (CDS), its underwriting service designed to complete auto loan assessments on demand.
Within just six months of the national CDS launch, Aimbridge signed its 50th customer to the system and continues to attract users, rapidly increasing its customer base. Leveraging credit unions’ strength in the auto industry and their focus on providing excellent customer service, CDS makes credit unions more accessible to their members.
CDS is a service that offers trained underwriters from 6 a.m. to 7 p.m. (MST) seven days a week. This allows a customer to answer loan requests from members during extended hours, weekends or holidays. Credit unions may select to use the service on a full-time basis, for designated hours or on-demand. This flexibility gives credit unions the ability to compete in the auto industry by generating accurate and timely loan approvals, adhering to the conditions of each individual credit union.
CDS dramatically reduces the response time of credit unions, allowing them to increase efficiency while maintaining market share. Aimbridge conducts a study on the turnaround times of all of its customers and First Coast Credit Union wanted to improve its results. As a result, First Coast CU became the 50th CDS customer and three months after implementing the service, the credit union has realized a forty percent decrease in turnaround time and an increase of $209,000 in loan volume.
“We have been an Aimbridge customer for two years and when we heard about CDS, we realized that it was the support that we needed to provide better service to our members,” Cheryl Boggess, loan manager at First Coast CU, explained.
Located in Palatka, Fla., First Coast CU currently serves its members through one central facility. Its small staff size can make it difficult to decision loan applications when they come in, so the credit union uses CDS to handle any application that has not been addressed after a pre-determined length of time.
“I’m the only one that processes the loan applications and CDS is exactly what I need to fill in when I’m in a meeting or out of the office,” Boggess said. “I set the parameters for the decisioning and Aimbridge sends me a summary report every month, so I have really been able to make sure that the service is addressing First Coast’s specific needs.”
Credit unions have a competitive presence in the lending sector, providing interest rates below the average percentage. CDS allows members to experience the financial trust and loyalty they have come to expect from their credit union while still enjoying the convenience of quick loan application decisions. Credit union members also have a wider variety of car dealerships to choose from due to Aimbridge’s development of a national distribution system.
“One of the constant concerns of every credit union is continuing to increase its deposits and serving members in multiple ways,” Debbe Kirkpatrick, vice president of operations at Aimbridge, added. “CDS has achieved so much success in such a short period of time because it leverages Aimbridge’s expertise in indirect lending to provide excellent customer service to credit union members outside of the branch that is equal to what they would receive inside the branch. Our CDS customer base continues to grow and we look forward to more and more credit unions taking advantage of this new Aimbridge service.”
About Aimbridge Lending Solutions
Since 1984, Aimbridge® Lending Solutions has partnered with credit unions and automotive dealers to market auto loans and insurance products. The company hosts a single platform through which direct, indirect and Web-based lending solutions help its partners increase automotive lending and ultimately increase revenue.
The company, headquartered in Englewood, Colo., has remote offices throughout the United States. For additional information visit www.aimbridge.com, call 1.888.400.2865 or e-mail info@aimbridge.com.