FARMERS BRANCH, Texas – The Texas Credit Union League (TCUL) Lending Services has teamed with Centrix Financial to offer an auto lending program to credit-impaired members with minimal risk. The Centrix Financial Portfolio Management Program is a turnkey system that features all of the operating procedures for underwriting, servicing, collection and management of non-standard auto loans. In addition, each loan has a default insurance, which insures against principal loans. Linda Winkfein, vice president of TCUL Lending Services said the program should produce loan yields of at least 11% annually for participating credit unions. It’s a great way for credit unions to serve their members with credit problems, attract new members, and earn a good return on new loans, said Winkfein. TCUL Lending Services has scheduled training meetings in Dallas, Midland, San Antonio and Houston in August to explain the program in greater details to credit unions and answer their questions. -

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