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Aimbridge Indirect Lending Sets Up Indirect Lending Program With Michigan CUs

DENVER - Aimbridge Indirect Lending, one of five divisions of The Aimbridge Group, has launched an indirect lending program with five credit unions in Michigan. The participating credit unions are: DFCU Financial, Dearborn; Credit Union One, Ferndale; Michigan First CU, Detroit; Royal Oakland Community, Royal Oak; and SOC Credit Union,...

By Staff Writer | Updated on December 16, 2003

DENVER – Aimbridge Indirect Lending, one of five divisions of The Aimbridge Group, has launched an indirect lending program with five credit unions in Michigan. The participating credit unions are: DFCU Financial, Dearborn; Credit Union One, Ferndale; Michigan First CU, Detroit; Royal Oakland Community, Royal Oak; and SOC Credit Union, Troy. In addition, 100 auto dealerships are participating in the program. Detroit is home to a major automaker and various finance companies, which makes it a very competitive market for credit unions to operate an indirect lending program in. “We needed a company to aggressively manage dealer relations,” said DFCU Financial Senior VP of Consumer Lending Ken Jones. “The Aimbridge Group has extensive dealer knowledge, and the company helps us manage the loan volumes coming from the dealers so that we can generate more business.” Steve Bentley, CEO of The Aimbridge Group said, “While this is a challenging market, Michigan credit unions have the potential to grow their indirect lending programs and work together to compete with finance companies to offer members and potential members auto loans.”

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