HOUSTON—Auto Financial Group, Inc. here, an online provider of financing products for credit unions and banks, said it has entered into a new partnership with CU Direct in which each company will expand its presence in the credit union market and integrate technologies to better facilitate balloon lending opportunities for auto dealers.
“With the new partnership, dealers, credit unions, and members will experience a swifter, smoother, and more accurate approval process when creating an AFG balloon loan,” said Auto Financial Group. “By integrating AFG's payment and residual value quoting technology with CU Direct's Dealer Portal, customers of all types will be able to experience the convenience and ease of a one-stop shop for their balloon lending needs.
"We're thrilled to be bringing this kind of seamless experience to our customers," said Richard Epley, CEO of AFG, "The access and speed available through this kind of integration will be a true asset to both dealers, lenders, and the consumer."
John Carrington, SVP of sales at CU Direct, said in a statement, "Partnering with AFG allows us to provide an exclusive, value-add solution to simplify the balloon lending process for our credit union and dealer partners. It's a real breakthrough in providing added speed and accuracy to the process."
The two companies said credit unions and dealers can take advantage of this new partnership through AFG's payment and residual value quoting technology.
CU Direct will be hosting its annual conference this week in Las Vegas.