CRIF Select, a division of CRIF Lending Solutions and leading provider of indirect lending solutions, has acquired the operations of the Credit Union Auto Loan Network (CUALN).
“CRIF Select has been an excellent partner for CUALN for many years, and we are pleased to have them now serve our member credit unions directly,” said Chris Conway, President/CEO of Educational Systems Federal Credit Union and Chairman of CUALN. Educational Systems Federal Credit Union is based in Greenbelt, Md. CUALN is a collaboration of 17 local credit unions and hundreds of local auto dealerships in Maryland and Virginia working together to provide credit union members with the ability to obtain credit union financing at the point of purchase.
“We clearly recognize and appreciate the value CRIF Select continues to provide our members,” said Michael Gordy, Executive Vice President/Chief Operating Officer for SECU. “It allows us to compete at the highest levels of indirect lending without incurring all of the costs associated with doing everything in-house.” Baltimore, Md.-based SECU is a member institution of CUALN. CRIF Select specializes in indirect auto lending partner programs. Its integrated, technology-based solutions will make loan approvals faster, more accurate and virtually paperless, delivering lower costs for institutions and better service for their customers and members. With state-of-the-art technology, experienced call center support and loan processing services, Select offers user-friendly, value-added solutions for every phase of the indirect auto lending process.
“Indirect lending competition in the Maryland and Virginia markets continues to be very strong,” said Jeremy Engbrecht, President of CRIF Select. “With this acquisition, we look forward to helping CUALN’s member institutions leverage our expertise, services and technology to further enhance their successful programs.”
Source: CRIF Press Release
