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Michigan League signs marketing agreement with Centrix Financial

NORTHVILLE TOWNSHIP, Mich. - The Michigan Credit Union League reached a marketing agreement with Centrix Financial for the financial and risk management firm to provide credit unions the opportunity to offer credit impaired members non-prime and sub-prime auto loans at a minimal risk. According to the agreement, MCUL, through its...

By Staff Writer | Updated on January 15, 2002

<p>NORTHVILLE TOWNSHIP, Mich. – The Michigan Credit Union League reached a marketing agreement with Centrix Financial for the financial and risk management firm to provide credit unions the opportunity to offer credit impaired members non-prime and sub-prime auto loans at a minimal risk. According to the agreement, MCUL, through its subsidiary CUcorp, will promote the Centrix Portfolio Management Program to its affiliated CUs. Centrix through its PMP markets, underwrites, services, collects and insures loans against principal loss, thus minimizing the costs and risks typically associated with these types of loans. The Centrix PMP portfolio includes 14,655 loans with total underwritten loans exceeding $200 million.</p>

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