San Antonio Citizens Federal Credit Union Rolls Out Aimbridge LendingSolutions’ Loan Generation Services

ENGLEWOOD, Colo.--Aimbridge® Lending Solutions, an integrated provider of multi-channel, multi-lender auto buying and lending services, announced today that San Antonio, Fla.-based San Antonio Citizens Federal Credit Union has launched its Loan Generations Services. The credit union is using the solution to expand pre-approval application options for its more than 11,500 members.

Loan Generation Services is a process that credit unions use to capture member loan pre-approvals via the branch, phone or Web and make them accessible to members and auto dealers via the Internet. This scaleable solution is Aimbridge’s first step towards a full suite of products that will facilitate a totally Web-based lending process.

“We have been receiving excellent service with Aimbridge since our relationship began in 1999 and when I found out about Loan Generation Services, I immediately knew that it was the perfect way to improve our member-penetration rates while simultaneously better servicing members that we don’t always reach,” Roz Carr, loan manager at San Antonio Citizens FCU, said.

Prior to rolling out Loan Generation Services, San Antonio Citizens FCU members would request to be pre-approved for financing and the credit union had nothing tangible to provide the member to bring with them to the dealership. This method resulted in some members being directed to other lenders while they were visiting the dealership. Now when members apply for their loan, whether by submitting requests to the credit union in person, over the phone, or via the Internet, they receive proof of their loan approval. This allows San Antonio Citizens FCU members to go to a dealership with the sole task of finding a car because their pre-approval letter is in hand.

“There is a certain level of loyalty that goes with a pre-approval letter,” Carr explained. “If a member has been given a pre-approval letter and a competitive interest rate from their credit union, they are far less likely to be persuaded to finance a car through another lender. Not only does this make the car buying process easier for our members, but our staff feels better knowing that we are providing loans to a greater number of our members.”

Since San Antonio Citizens FCU began using Loan Generation Services, the credit union has issued 75 pre-approval letters, 67 percent of which resulted in auto loans. A third of the loans accepted were outside of the A paper range, which helps San Antonio Citizens FCU meet the needs of more of its borrowers.

“Our ultimate goal is to ensure that we can service our members in multiple ways, including all grades of auto loans,” Carr added. “Loan Generations Services gives us the ability to send our members to the dealership with the backing of their credit union. It’s a great situation for everyone.”

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.