ENGLEWOOD, Colo. -- Aimbridge Lending Solutions is now offering credit unions what it calls its Loan Generation Services, a process for capturing pre-approvals at the branch, over the phone or on the Web and making them accessible to members and dealers over the Internet.

The system aggregates pre-approvals and member information in one central location, also helping to set the stage for a full suite of products that will facilitate "a totally Web-based lending process," the company says.

"The automotive lending market may look dismal with franchise and dealer sales decreasing and only 17% member penetration, but there is a lot of opportunity for success if credit unions leverage the Web," says Stephen Bentley, chief executive officer of Aimbridge, an integrated provider of multi-channel, multi-lender auto buying and lending services.

First Community Credit Union in St. Louis has been using the system for a year and says it has seen its monthly indirect lending volume grow an average 15%.

"Our members take their automotive dealer experiences personally and Loan Generation Services makes that process smoother and helps to ensure that we keep our members' loans. This is a crucial step towards leveraging the Web as a sales channel and providing the entire auto buying experience from our credit union's Web site," says Joe Radeke, indirect lending manager at $1.2 billion First Community.

The Loan Generation Services solution is scalable and allows credit unions to upload pre-approvals through a browser interface, batch files or in real time through a direct interface with Colorado-based Aimbridge.

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Aimbridge Lending Solutions Expands Web-Based Services

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