Rate Reset Partners with CUProdigy to Deliver Core Processing Solution

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Partnership Will Enable Core Processor Client’s Easy and Efficient Access to Rate Reset Products

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Part of our mission is to become a comprehensive provider of credit union technology solutions, said Anthony W. Montgomery, CEO CUProdigy. Integrating the Rate Reset software solutions with our core processing platform is consistent with that objective.

Rate Reset, the provider of Loan Reset, Acquisition and Retention Software and CUProdigy, the innovative, open architecture core processor provider, today announced the two companies are partnering to allow credit union’s to more efficiently implement Rate Reset products to the credit union industry.

Rate Reset will partner with CUProdigy to bring member credit unions:

  •     RateReset for Auto and Personal Loans-Enables borrowers to reset their auto or personal loan without the cost and hassle of refinancing. For the financial institution, Rate Reset automates loan retention so the institution can focus on new business.
  •     LoanGen for Auto and Personal Loans-A secure web-based automated loan generation tool that allows credit unions to acquire auto and personal loans from other financial institutions.

Under the terms of the agreement, CUProdigy will provide data connectivity into the Rate Reset software solution for its CUSO member credit unions. In addition, CUProdigy will update the core processor with the new data fields selected by the individual credit union members, making it an extremely efficient loan retention solution. The agreement allows Rate Reset to quickly and easily deploy their suite of products to CUProdigy credit union members.

“Part of our mission is to become a comprehensive provider of credit union technology solutions.” said Anthony W. Montgomery, CEO of CUProdigy. “Integrating the Rate Reset software solutions with our core processing platform is consistent with that objective. We are delighted with this partnership.”

“Partnering with CUProdigy allows Rate Reset customers to easily implement our products.” said Keith Kelly co-founder and CEO of Rate Reset. “The ability for the credit unions to extract and update their data through CUProdigy’s core processor significantly reduces the credit unions time and effort necessary to offer our products to their members.”

About CUProdigy:
CUProdigy, founded in 1991 by a group of forward-thinking credit union executives, provides a superior core processing system for less than the cost of a traditional system. As a Credit Union Service Organization (CUSO), CUProdigy is committed to facilitating collaborative IT solutions for the benefit of their credit union partners. For more information about CUProdigy, visit CUProdigy.com

About Rate Reset:
Named by American Banker’s Bank Technology News (BTN) as "One of the Top Ten Technology Companies" to watch, Rate Reset provides innovative Loan Acquisition, Retention and Reset Software (LRS™) to banks, credit unions and mortgage companies. The company’s software provides a borrower-initiated interest rate-resetting loan feature that is an alternative to the traditional refinance for both mortgages and auto loans. For more information on Rate Reset visit http://www.RateReset.com.

Media Contacts

Keith Kelly                             
Rate Reset                        
703.926.8626
kkelly(at)ratereset(dot)com

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Rate Reset
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