Rate Reset, a software firm whose platforms allow borrowers to change the interest rates on auto and home loans, announced another credit union has signed on to begin offering the service to its members.
The McLean, Va.-based company said the 23,000-member, $295 million Mid-Atlantic Federal Credit Union will offer members its Rate Reset for Auto and LoanGEN for Auto platforms.
Rate Reset for Auto allows members to reset their auto loan rates without spending additional money and time refinancing, plus allows credit unions to achieve greater auto loan retention, the company said. LoanGEN for Auto permits credit unions to easily acquire auto loans from other institutions.
Recommended For You
The Germantown, Md.-based cooperative will also pilot-test Rate Reset's newest platform, LoanGEN for Credit Cards. LoanGEN for Credit Cards is designed to allow members to more easily compare their credit union's card offerings with their current cards, and transfer their balances to a new credit union card if they so desire.
Rate Reset Co-Founder and CEO Keith Kelly reported that more than 30 lenders now use at least one of Rate Reset's platforms, and that with the addition of MAFCU, 26 of those lenders are credit unions.
"MAFCU works very hard to ensure that every member has the opportunity to achieve their financial goals," MAFCU President/CEO Andrew Russell said. "We believe the Rate Reset products that reduce the costs and eliminate the hassles associated with the re-financing process assist our members in that effort."
"We are delighted that Mid-Atlantic has joined our network of financial institutions offering their members Rate Reset products," Rate Reset Co-Founder and COO Bob Catalanotto said. "We continually strive to develop products that bring value to the financial institution and its customer base. Mid-Atlantic recognizes the value our products bring to their institution and we are pleased that they are the first to license our new LoanGEN for Credit Card product."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
