ATLANTA — CRIF Select, a division of CRIF Lending Solutions and provider of indirect lending solutions, announced expanded partnership agreements with five credit unions in New Mexico.
The company said the five CUs — $680 million Kirtland FCU, $842 million U.S. Eagle FCU and $2.1 billion Sandia Laboratory FCU, all based in Albuquerque; $407 million State Employees Credit Union, Santa Fe, and $131 million Zia CU, Los Alamos — will partner with CRIF Select for the Select Complete full-service indirect lending solution.
Select Complete is a "fully loaded offering" that provides a turnkey indirect lending solution to guide lenders from start to finish, according to CRIF. The company said it helps institutions that want to keep personnel costs at a minimum or to "reel in the profits" of an indirect leading program "without the responsibility of having to operate any of it."
The outsourced solution provides full dealer management, underwriting, processing and funding, technology, and reporting and consulting services, CRIF Select added.
"Partnering with these five prominent credit unions is a tremendous opportunity to showcase the benefits of an outsourced indirect lending solution such as Select Complete," Jeremy Engbrecht, president of CRIF Select, said in a statement. "These lenders are already operating in a very competitive market, but we are confident these partnerships will open doors to them for further growth opportunities and increased efficiency."
CRIF Lending Solutions says it is the nation's largest provider of loan and account origination, business process outsourcing, credit decisioning, data access, and lending and marketing analytics solutions. Its clients include a number of the most successful U.S. financial institutions, including credit unions, banks, finance companies, retailers and credit card processors.
