The LoanLink Center, a credit union system-owned lending call center, has added two new platforms of tools that it says will enhance credit unions' indirect auto lending opportunities, and provide better service to members.
DealerTrack, a point-of-sale automobile dealer loan application system, is an Internet-based risk analysis and real time auto-decision tool that works seamlessly with The LoanLink Center to match members with loans from their credit unions. "When using this system, neither the member nor the dealership needs to call the credit union or The LoanLink Center to initiate, process and close a vehicle loan," the company said. "The processing is done via the Internet."
DealerTrack, of Melville, N.Y., is used by more than 23,900 dealers nationwide.
The second enhancement includes new account inquiry and transaction capabilities, enables a credit union member using the Center to call or e-mail to check account balances and direct funds to be transferred among accounts. In addition, members can apply for and receive approval on consumer loans and become prequalified for mortgage loans.
"These enhancements are part of our continuing efforts to make The LoanLink Center a valuable partner to credit unions for expanding their lending programs," said Mike Armstrong, vice president, The LoanLink Center. "By adding DealerTrack to The LoanLink Center's Web-based loan application process, members can receive instant loan application decisions while they're with the dealer, with no paperwork needing to be filled out and manually faxed away, then waiting for a loan officer to make a decision," said Mike Armstrong, VP-The LoanLink Center.
The LoanLink Center combines CUNA Mutual's LOANLINER forms and loanliner.com with APPRO System Inc.'s loan origination system and established lending call center. The two companies formed The LoanLink Center in 2002, and it has since processed more than 300,000 loan applications for an average $15,000 per loan.
For info: www.cunamutual.com.
