WAUSAU, Wis. Connexus CU said it has purchased Financial Institution Lending Options LLC, a company that provides financial institutions with auto loans through pool sales, participation pools or whole loan flow sales.
Financial Institution Lending Options was formed in 2001 to provide financial institutions in Wisconsin with the opportunity to purchase auto loans. FILO has a network of more than 400 dealers.
“Connexus Credit Union is excited for the opportunity to work with FILO and the 22 credit unions that take part in FILO’s lending programs,” said J. David Christenson, president of the $560-million credit union.
“We plan to leverage the combined talents of FILO and Connexus to expand the FILO program to more credit unions in other states,” Christenson said.
Financial terms of the deal were not disclosed.
