Aimbridge Indirect Lending, Ohio Credit Unions and Ohio Credit Union League Services Corporation Form Indirect Lending Program.Business Editors DENVER--(BUSINESS WIRE)--Nov. 17, 2003 Partnership Creates Opportunity for Credit Unions to Collectively Increase Market Share and Compete against Ohio Banks Aimbridge Indirect Lending announced that it has joined forces with OCUL OCUL Ohio Credit Union League OCUL Oregon Credit Union League Services Corporation and Ohio credit unions to launch Aimbridge Indirect Lending (AIL AIL 1. Angiocentric immunoproliferative lesion 2. Angioimmunoblastic lymphadenopathy ) of Ohio. The program allows credit unions to further penetrate the Ohio market and is part of Aimbridge's national expansion efforts. Aimbridge Indirect Lending is a division of The Aimbridge Group and a financing channel that connects credit unions with an automotive dealer network to provide members and potential members with automobile loans. AIL Ohio has plans to include the entire state during 2004. Approximately 25 percent of Ohioans belong to a credit union. The objective of the program is to provide a convenient delivery channel for current credit union members to purchase vehicles and to facilitate membership growth through indirect lending. Since the credit unions will be working under the same indirect lending program, their lending volumes will be easier for dealerships to manage. Initially, approximately 30 credit unions and 75 automobile dealerships from Cincinnati, Dayton, Columbus and Toledo will be participating in the program. Prior to selecting Aimbridge Indirect Lending to develop an indirect lending program, nine Ohio credit union executives formed a taskforce to examine indirect lending programs. The group researched three other indirect lending programs as well as discussed building a program in-house. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dave Fearing, chief operations officer of OCUL Services Corporation, the taskforce chose to work with Aimbridge for three reasons. First, Aimbridge has designed a very comprehensive approach to automobile dealership network management. Second, it developed a cutting-edge, Internet-based automobile loan application tracking system with connectivity to credit unions and dealers that supports standard and custom credit union decisioning matrices. It can manage loan volumes from multiple credit unions, and the technology also generates individual lending status reports for the credit unions on an ongoing basis. Third, Aimbridge was willing to create a partnership relationship with Ohio credit unions and OCUL Services Corporation. Steve Bentley, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Aimbridge Group, said, "Our partnership with Ohio credit unions and OCUL Services Corporation presents credit unions with the unique opportunity to pool their resources and create an indirect lending program that will enable them to further penetrate the market and better compete against banks and finance companies. Our goal is to help credit unions and dealers streamline the lending processes and generate more loan volume in this market." "Aimbridge has the expertise and the relationships to help us establish a successful indirect lending program," Fearing said. "The company has built indirect lending programs in many markets and already cultivated cultivated, n in herbal medicine, used to describe plants that are commercially farmed rather than collected from the wild. relationships with more than 1,200 dealers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . We have been very impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with Aimbridge's commitment to our market and its understanding of indirect lending." About OCUL Services Corporation OCUL Services Corporation is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Ohio Credit Union League A credit union league (League) is a United States state-level trade association for credit unions, which are non-profit financial cooperatives. Credit union leagues hold a primary interest in the Credit Union National Association (CUNA). . The Ohio Credit Union League, with offices in Dublin, is a state trade association representing more than 500 credit unions in Ohio. OCUL Services Corporation is the business division designed to bring growth, products and solutions to Ohio credit unions. About The Aimbridge Group Founded in 1984 and headquartered in Denver, The Aimbridge Group markets financial products, such as auto loans and leases, mortgages and insurance products through partnerships with credit unions. The company helps their partners attract members and deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. their relationships by providing members with more reasons to do business with their credit unions. The Aimbridge Group is comprised of five divisions, including Aimbridge Indirect Lending, Aimbridge Leasing, Aimbridge Home Loans, Aimbridge Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and Aimbridge Automotive Group. The company is headquartered in Denver and has remote offices located throughout the United States. For additional information, write The Aimbridge Group at 4610 S. Ulster Ulster, northernmost of the historic provinces of Ireland. Modern Ulster consists of nine counties. Six (Antrim, Armagh, Down, Fermanagh, Derry, and Tyrone) now make up Northern Ireland (see Ireland, Northern), which is often referred to as Ulster; the remaining St., Suite 300, Denver, Colorado 80237 or contact Andrea Harris at 303.306.3231. Visit its Web site at www.aimbridge.com. |
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