CUAC Increases Indirect Loan Portfolio Through APPRO Systems

HOUSTON – Credit Union Acceptance Corp., an indirect lending CUSO founded by eight Houston-based credit unions, reports it has achieved significant growth and increased its indirect lending portfolio through the use of APPRO Systems’ loan automation and credit risk decisioning system LoanCenter ConsumerT. Prior to using LoanCenter Consumer, CUAC said its loan volume growth was stagnant and it was not increasing the number of credit unions it serves. The auto loan application process was completely manual and dealers were required to fax in applications which were in turn manually entered and decisioned, resulting in an inefficient and complicated process. As a result of implementing LoanCenter Consumer, CUAC has expanded its presence in Alabama, Florida, Louisiana, Mississippi, Ohio, South Carolina and Texas. Before it implemented LoanCenter Consumer, the CUSO reported funding approximately 50 loans a month. Now it works with 60 CUs in eight states and funds more than 3,500 loans a month.