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Aimbridge Indirect Lending Continues Company Growth Expanding into NE Florida.


DENVER -- Aimbridge Indirect Lending announced that three credit unions, Coastline FCU FCU - Familial Cold Urticaria
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, First Florida Credit Union and Health American Credit Union, Jacksonville, Fla., have joined its indirect lending program in northeast Florida. Aimbridge Indirect Lending is a subsidiary financing channel of Aimbridge Lending and connects credit unions with automotive dealer networks to provide members and potential members with automobile loans and leases.

Coastline FCU, $115 million in assets, is located in the greater Jacksonville area and serves 15,250 members in Duval County. First Florida Credit Union serves more than 32,741 members in Jacksonville and has more than $194 million in assets. Health American Credit Union with more than $78 million in assets, serves nearly 14,190 members in Jacksonville.

Wayne Harubin, president and CEO of Coastline, said, "I have had previous relationships with Aimbridge dating back more than 17 years. Aimbridge is a trusted source for technology, management and expertise. When we decided to implement an indirect lending program, we had little doubt which company to use. With Aimbridge's accredited reputation among credit unions and dealers, we expect great results."

Aimbridge's Indirect Lending program provides members point of sale for cars at the dealer. Within northeast Florida, members of credit unions participating in the program now have more than 70 additional locations to attain financing. Aimbridge maintains the dealer relationship for the credit unions, thereby enabling credit unions to focus on other areas of importance.

"This program gives us an opportunity to obtain new members," Harubin continued. "We believe three out of four consumer loans will be new members. Our loan volume is expected to increase and that is important to our 2005 goals to bolster membership. This is also great service to offer our members because they receive instant loan approval that enables them to leave the dealership with a new automobile. Systematically, we want to expand more offerings to our indirect lending members with the intent to establish great community relationships. Aimbridge enables our institution to have an expanded presence in the community."

Coastline FCU also takes advantage of Aimbridge Home Loans, a division of Aimbridge Lending that provides online mortgage lending services for credit unions and enables members to quickly complete a loan application and have immediate access to loan products

Aimbridge's Indirect Lending program is also web based. It is tailored to meet the individual needs of each credit union and dealer. Aimbridge has already successfully reached into the Colorado, Texas, Missouri, Ohio and Michigan markets.

"As a company, we are rapidly growing and as a premier provider of an array of services," said Ann Schmitt, COO of Aimbridge. "Our indirect lending has certainly prospered in the last few months. What is unique about our product and service offering is our ability to provide and maintain the dealer relationships. Coastline FCU, First Florida Credit Union and Health American Credit Union are three credit unions dedicated to providing great service, each requiring different needs. We have a customizable program that can accommodate the unique needs each credit union seeks. We are pleased to partner with these credit unions and proud to be a major part in their future growth and development."

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 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 and Aimbridge Disposition Services. The company is headquartered in Denver and has remote offices throughout the United States.

For additional information, visit www.aimbridge.com.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Feb 9, 2005
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