Cal Fed Rolls Out Services for Auto Dealers
21 September 2000
Cal Fed Rolls Out Services for Auto Dealers
SAN FRANCISCO--Sept. 21, 2000--With a line of banking products customized for automobile dealers, Cal Fed is driving into the dealer corporate services business.Cal Fed partnered with DataScan Technologies to roll out this specialized commercial banking product line.
"We now offer dealerships a full range of financial services to support all aspects of their business," said Ken Coopman, executive vice president and director of Cal Fed's commercial banking division. "We're giving single- and multi-franchise dealerships more power, with competitive pricing and the Cal Fed brand of personalized service."
Cal Fed currently has a major presence in automobile retail contracts through its Auto One Acceptance Corporation, based in Dallas. The bank's new dealer corporate services group is acquiring new commercial/wholesale business from auto dealers in California and Nevada.
Products offered by the Cal Fed dealer corporate services group include floorplan, term/capital and real estate loans, cash management services, payroll services and pension/401(k) plans.
Headed by dealer-services veterans Leonard Morgan and Gary Hansen, the group operates out of offices in Northern and Southern California. Morgan, Cal Fed's senior vice president and regional director of commercial banking, was a 32-year Bank of America employee, and most recently an executive vice president managing B of A's commercial/wholesale dealer lending business nationally. Hansen, Cal Fed's first vice president and manager of dealer corporate services in Southern California, has worked in the Southern California dealer marketplace for more than 30 years, formerly managing Bank of America's Southern California dealer lending business. To reach Cal Fed's dealer corporate services group, dial 714/861-7858.
Cal Fed selected DataScan as a service provider for its dealer corporate services group after reviewing several vendors. "We chose DataScan based on their degree of industry knowledge and industry-specific features in their accounting system," said Leonard Morgan. "Their exposure to the industry and its products is extensive, which makes it extremely easy to communicate issues and problems that need attention."
DataScan Technologies provides wholesale industry specific systems and services to the most prominent financial institutions worldwide using the latest proven technologies. Offerings include: Wholesale Management System -- a floorplan accounting system; Dealer Access System -- allowing dealerships to access wholesale data and reporting via the Internet; Dealer Loan System -- an asset-based loan system; Collateral Management System -- an automated audit and risk management system; and Nationwide Audit Services -- professional audit outsourcing. Additionally, the Application Service Provider option allows for all DataScan software products to be hosted by DataScan at their data center outside of Atlanta. For more information on DataScan contact Ken Adams at 800/767-7226, kadams@datascantech.com, or visit www.datascantech.com.
California Federal Bank, the second-largest depository institution headquartered in California, has approximately $60 billion in assets, 352 branches in California and Nevada, and $23 billion in deposits. Cal Fed is the second-largest savings and loan in the U.S., and is a subsidiary of Golden State Bancorp Inc. . Cal Fed is a full-service community-oriented bank offering consumers and businesses the products and experience to help them achieve their financial goals. For more information on Cal Fed and Golden State, see our Web sites at www.calfed.com and www.goldenstatebancorp.com.