Aimbridge Indirect Lending Announces BridgePoint; Information Management System to Help Credit Unions Manage Indirect Loan Portfolios.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- At the NAFCU NAFCU National Association of Federal Credit Unions NAFCU Northland Area Federal Credit Union 38th Annual Conference and Exhibition, Aimbridge Indirect Lending announced its enhanced credit union information management system, BridgePoint(R), designed to help credit unions manage their indirect loan portfolios. BridgePoint is scheduled to launch on Aug. 1, 2005, with full implementation capabilities by Oct. 1, 2005. Aimbridge Indirect Lending is a national distribution channel that connects credit unions with an automotive dealer network to provide members and potential members with automobile loans and leases. The new BridgePoint solution provides in-depth information to assist credit unions in managing risk and maximizing program performance. It offers concise report organization and structure for credit unions and provides detailed transaction reports; summary/trending reports; and executive steering The process whereby builders, brokers, and rental property managers induce purchasers or lessees of real property to buy land or rent premises in neighborhoods composed of persons of the same race. reports on applications, funding and staff management. Ann Schmitt, COO (Cell Of Origin) See mobile positioning. of Aimbridge, said, "Aimbridge created BridgePoint to give credit unions access to executive level performance data and information needed to analyze and manage their indirect business. We are confident that this information management system will increase business opportunity and positively effect overall credit union operations." BridgePoint was designed to provide credit unions with quick and easy access to the in-depth information needed to analyze and manage indirect lending business. Features of BridgePoint include information on dealerships, credit analysts, new versus used vehicles, member/new member tracking, and credit tier distributions. It also provides loan attributes including rate, term and loan-to-value (LTV LTV See: Loan-to-value ratio ). Credit Union customers will also have access to month over month trending reports that were not previously available online. BridgePoint offers many advantages for credit unions, including easy access to information that may be required by regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. and enabling proactive management of the indirect program. The solution identifies issues before critical problems emerge and highlights potential areas of opportunity for the credit union to pursue. Aimbridge offers two packages from which credit unions can choose. The Summit Package, which does not require the purchase of additional software, includes monthly base reports sent via email, daily ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to funding details and turn-time reports. The more advanced Apex Package requires a software license but delivers expanded reporting options. Apex delivers the remaining detail reports plus 15 additional reports, both the detail and summary, as well as the monthly executive steering report -- all with 24/7 online access. "Indirect auto lending is rapidly becoming an important part of total credit union lending activities," Schmitt said. "Identifying emerging trends and managing risk has never been more important, which is why Aimbridge is working to ensure credit unions have the best technology, tools and information to manage their indirect lending portfolios." About Aimbridge Founded in 1984, Aimbridge markets financial products, such as auto loans, mortgages and insurance products through partnerships with credit unions. The company helps its 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. Aimbridge Lending is comprised of four divisions, including Aimbridge Indirect Lending, 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 Disposition Services. The company is headquartered in Denver and has remote offices 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. . For additional information, visit www.aimbridge.com. |
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