Pennsylvania Credit Union Association

PCUA Partners with CRIF Lending Solutions

4/5/2012

Solution Helps Credit Unions Develop New Loan Channel and Revenue Source

HARRISBURG, PA – The Pennsylvania Credit Union Association (PCUA) is pleased to announce a new partnership with CRIF Lending Solutions to bring merchant lending to Pennsylvania credit unions. This solution will allow participating credit unions to open a new lending market and successfully compete with finance companies in the merchant lending arena.

"Merchant lending is an excellent way for credit unions to market themselves and acquire new members,” said Kyle Kehoe, Vice President of Sales at CRIF Lending Solutions. “Through this partnership with PCUA – which we are proud to be a part of – we are helping credit unions create more products, more sales channels, and more value for their members and their communities.”

With the full-service outsourced merchant lending offering from the CRIF Select division of CRIF Lending Solutions, Pennsylvania credit unions will be able to generate revenue from local merchants by offering 24/7 instant financing on everything from ATVs to swimming pools to jewelry via a web-based portal. The outsourced point of sale financing solution handles every aspect of merchant lending from merchant sourcing and sign up to contract funding and disbursement, allowing credit unions easy entry into a new lending market.

“We’re pleased to add CRIF Lending Solution’s merchant lending program to our offerings for Pennsylvania credit unions,” said Corinne Sherman, PCUA Senior Vice President, Fee Services. “We understand the need for credit unions to grow their lending portfolios and feel this merchant lending product can help them do just that,” said Sherman.

Credit unions looking for information about getting started with merchant lending from CRIF Lending Solutions should contact their account executive or call PCUA at 800-932-0661.

CRIF Lending Solutions
By bringing together the automated lending technology and services of Aimbridge, APPRO, Cypress, FLS, Magnum and Teres, CRIF Lending Solutions provides loan and account origination, business process outsourcing, credit decisioning, data access and analytics solutions to over 650 of the U.S.’s most successful financial institutions including banks, credit unions, finance companies, retailers and credit card processors. CRIF Lending Solutions is organized into four dedicated divisions: CRIF ACTion includes APPRO, Cypress and Teres products; CRIF Select includes Aimbridge and FLS services; CRIF Synergy features Magnum products; and CRIF Achieve offers cost-effective, analytic decision management solutions. CRIF Lending Solutions is a part of CRIF, a global company specializing in the development and management of decision support systems worldwide. For more information, visit www.criflendingsolutions.com.

Pennsylvania Credit Union Association
Credit unions are financial cooperatives that provide affordable financial services to help their owner/members. The Harrisburg-based Pennsylvania Credit Union Association is a trade association that provides legislative, promotional, educational and operational support for more than 400 credit unions in Pennsylvania. These credit unions have assets in excess of $36 billion and serve more than 3.7 million members. For additional information about credit unions or to find a credit union near you, visit www.iBelong.org.

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