America's Community Bankers has tapped Virtual Loan Corp. to supply Internet loan services to the trade group's member thrifts.
The loan program, Loan Locater, will let potential customers get quotes and apply for loans through an institution's Internet site.
The product initially will offer mortgages; automobile and home equity loans eventually will be added.
ACB Partners Inc., the trade group's subsidiary that seeks out products and services to endorse for members, said the program will be a boon to thrifts.
"The leverage that this tool brings to our members can be very significant," said Michael Potter, chief operating officer of ACB Partners. "Most institutions could not afford to spend even a fraction of the development cost that produced this service."
The product will be showcased in November during ACB's annual convention in San Francisco.