Open Lending Signs Royal Credit Union to the Lenders Protection™ Program
January 12 2021 - 7:30AM
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based
pricing, risk modeling and default insurance to auto lenders
throughout the United States. The company announced today that
Royal Credit Union, a $3.3 billion institution based in Eau Claire,
WI, has selected Open Lending’s Lenders Protection™ program to help
grow their auto lending portfolio.
“Royal Credit Union is a values-driven organization focused on
making a positive impact in the lives we touch,” said Mike Dill,
EVP-Chief Lending Officer at Royal Credit Union. “We are excited to
partner with Open Lending to meet the needs of our Members and
strengthen our position as a trusted and valued financial
partner.”
Open Lending’s flagship product, Lenders Protection™, is a
unique auto lending enablement platform. It utilizes proprietary
data and advanced decisioning analytics to provide lenders with a
powerful way to increase auto loan volumes, without adding
significant risk to their auto loan portfolio. Lenders Protection™
allows auto lenders to model their specific overhead and funding
costs and set a target ROA for their insured portfolio. The result
is a profitable auto loan portfolio with carefully managed pricing
and risk characteristics.
“We are proud to partner with Royal CU in their mission to be a
positive force in their members’ lives,” said Matt Roe, Chief
Revenue Officer at Open Lending. “The Lenders Protection™ program’s
robust analytics will allow them to strengthen relationships with
members by offering competitive rates, while still increasing auto
loan volume and yields.”
About Open LendingOpen Lending (NASDAQ: LPRO)
provides loan analytics, risk-based pricing, risk modeling and
default insurance to auto lenders throughout the United States. For
20 years they have been empowering financial institutions to create
profitable auto loan portfolios by saying “yes” to more automotive
loans. For more information, please visit www.openlending.com.
Royal Credit UnionRoyal Credit Union is a
federally insured credit union proudly serving over 220,000 Members
in Minnesota and Wisconsin. Royal is driven by a core ideology
built on a strong purpose and values. You can open an account or
apply for a low-rate loan at Royal Credit Union if you live or work
in 26 counties in western Wisconsin or 16 counties in Minnesota.
Counties served in Wisconsin include Adams, Ashland, Bayfield,
Barron, Buffalo, Burnett, Chippewa, Clark, Douglas, Dunn, Eau
Claire, Jackson, Lincoln, Marathon, Pepin, Pierce, Polk, Portage,
Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Washburn, and
Wood. Counties served in Minnesota include Anoka, Carver,
Chisago, Dakota, Goodhue, Hennepin, Isanti, Olmsted, Pine, Ramsey,
Scott, Sherburne, Wabasha, Washington, Winona and Wright. Realtors
in the state of Wisconsin or Minnesota are also eligible to join
the credit union. Visit rcu.org or call
Royal Credit Union at 800-341-9911 for more information.
Media Contact Ginny Goertz |
ggoertz@openlending.com
Open Lending (NASDAQ:LPRO)
Historical Stock Chart
From Apr 2024 to May 2024
Open Lending (NASDAQ:LPRO)
Historical Stock Chart
From May 2023 to May 2024