Mid-Atlantic Federal Credit Union to Offer Suite of Rate Reset Products

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Maryland Credit Union Joins the Expanding Rate Reset Network

“MAFCU works very hard to ensure that every member has the opportunity to achieve their financial goals. We believe the Rate Reset products assist our members in that effort.” said Andrew Russell, president and CEO of Mid-Atlantic Federal Credit Union.

Rate Reset, the provider of Loan Reset, Acquisition and Retention Software for Mortgages and Auto Loans, today announced that Mid-Atlantic Federal Credit Union has joined the network of credit unions offering its Rate Reset products. Mid-Atlantic Federal Credit Union, headquartered in Germantown, Maryland, has approximately 23,000 members and over $295 million in assets.

Mid-Atlantic Federal Credit Union (MAFCU) plans to offer its members the following products:

  • RateReset for Auto, which enables borrowers to reset their auto 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, which is a secure web-based automated loan generation tool that allows credit unions and banks to acquire auto loans from other financial institutions.
  • MAFCU is the first financial institution to license Rate Reset’s new LoanGEN for Credit Card, which is a web-based automated tool that allows members to evaluate the benefits associated with credit card offerings and select the card that best fits their individual need.

“MAFCU works very hard to ensure that every member has the opportunity to achieve their financial goals.” said Andrew Russell, president and CEO of Mid-Atlantic Federal Credit Union. “We believe the Rate Reset products, that reduce the costs and eliminate the hassles associated with the re-financing process, assist our members in that effort.”

“We are delighted that Mid-Atlantic has joined our network of financial institutions offering their members Rate Reset products,” said Bob Catalanotto, co-founder and COO of Rate Reset. “We continually strive to develop products that bring value to the financial institution and its customer base. Mid-Atlantic recognizes the value our products bring to their institution and we are pleased that they are the first to license our new LoanGEN for Credit Card product.”

About Mid-Atlantic Federal Credit Union:
Based in Germantown, Md., Mid-Atlantic Federal Credit Union (MAFCU) is a not-for-profit institution managed for the sole benefit of its members, and offers many financial services at better rates and fees. Profits are returned to MAFCU members in the form of higher savings rates, lower loan rates, and lower fees. MAFCU currently has over 23,000 members and over $295 million in assets. Membership is open to anyone who lives, works, worships, or attends school in Montgomery Country, Maryland. For more information, please visit http://www.mafcu.org, email mafcu(at)mafcu(dot)org or call: (301) 944-1800.

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.

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Keith Kelly
Rate Reset
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