The AUTOSOURCE and Aimbridge Partnership Increases Auto Loans for Credit Unions

The Illinois Credit Union League Service Corporation’s AUTOSOURCE Division (AUTOSOURCE) and Aimbridge Indirect Lending have teamed up to more efficiently generate a greater number of auto loans for credit unions. Aimbridge® provides a national sales force to facilitate relationships with auto dealers and supply them with the technology to make loans with credit unions via the Internet. AUTOSOURCE provides indirect underwriting and processing expertise.

Naperville, IL. (PRWEB) September 29, 2006 -- The Illinois Credit Union League Service Corporation’s AUTOSOURCE Division (AUTOSOURCE) and Aimbridge Indirect Lending have teamed up to more efficiently generate a greater number of auto loans for credit unions.

Aimbridge® provides a national sales force to facilitate relationships with auto dealers and supply them with the technology to make loans with credit unions via the Internet. AUTOSOURCE provides indirect underwriting and processing expertise. Aimbridge offers Aimbridge Connect™, a suite of sophisticated lending tools that enable automotive dealers to immediately track and verify automobile loan applications from the point of application through loan funding. AimbridgeConnect™ enables a fast, efficient loan decisioning process.

The addition of Aimbridge and their technology has helped AUTOSOURCE greatly improve the auto loan volumes it delivers to credit unions. We realize how important auto loan receivables are for credit unions and we want to enlist every tool we can to help improve volumes, quality, and efficiency

Through Aimbridge Connect™ dealers can access AppLine™, an online application system that improves the quality of information available to dealers. Those applications that are not automatically decisioned are forwarded to AUTOSOURCE who will underwrite and process the package and deliver an auto loan receivable to the credit union.

From LoanTrack, dealers can originate and track the status of applications through a secure Internet portal. The result is an automated system that can take as little as 15 seconds to provide a decision on loans.

“The addition of Aimbridge and their technology has helped AUTOSOURCE greatly improve the auto loan volumes it delivers to credit unions. We realize how important auto loan receivables are for credit unions and we want to enlist every tool we can to help improve volumes, quality, and efficiency,” said George Fiegle, LSC executive vice president.

Note 1: Part of the Illinois Credit Union League, the ICUL Service Corporation offers fee-based products and services and is dedicated to helping credit unions compete. Its services include auto loans; collections; credit, debit, EFT, and ATM cards; item processing; marketing/ advertising; mortgages; and strategic planning.

Note 2: Founded in 1994, Aimbridge markets auto loans and insurance products through partnerships with financial institutions and auto dealerships. Aimbridge Lending is comprised of two divisions; Aimbridge Indirect Lending and Aimbridge Financial Services. The company is headquartered in Englewood, Colorado and has remote offices throughout the United States. For more information, please visit our website at www.aimbridge.com

Contact:
Aimbridge
Laurie Brennan
1.888.400.2865

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