1st Community FCU has participated in credit challenged automobile
lending since September 2002. We currently have $23 million in the
loan program.
George Sweet
Executive Vice President Lending

• By providing financial institutions a way to confidently approve
  borderline loans, lenders now have a powerful way to expand
  their loan portfolios while minimizing exposure.
  Steve Martin
  Former Director Of LP for CUNA Mutual

Credit Score Decline Has CUs Seeking Alternatives

Aug 3, 2011

ORNL Turns to Program that Helps CUs Take 'Second Look' at Applications. Over the last two years, there has been a major shift in FICO scores,. says John Flynn, president/CEO of Open Lending Inc. It's not because people are paying late. Banks are cutting credit limits coupled with high unemployment rates...more

Open Lending Partners with CUDL to bring Lenders Protection Program to Credit Unions

Feb 17, 2011

Open Lending, LLC, provider of the Lenders Protection Program®, announced today that it has completed work with CUDL to interface its enhanced Program underwriting platform with CUDL.s indirect auto loan origination platforms. The Lenders Protection Program® is a sophisticated risk-based pricing and default insurance program that drives higher loan volume, higher portfolio yields, and insures credit unions against losses...more

Open Lending introduces new “A” rated insurance provider

Sept 8, 2010

Open Lending, Inc., the parent company of Lenders Protection, announces an agreement with the insurance carriers of AmTrust Financial Services, Inc. to become the insurance provider for the Lenders Protection program. The program combines a risk management tool with default insurance coverage…more

Open Lending Hires Industry Veterans

July 29, 2010

Open Lending, Inc., the parent company of Lenders Protection, announced today the addition of two industry veterans to the company: Steve Martin has been named Vice President of Insurance Services. Steve is a former Vice President and product manager for CUNA Mutual Group. While at CUNA Mutual…more

Lenders Protections Acquisition Announcement

September 30, 2009

On September 30, 2009, Open Lending purchased Cuna Mutual's 50% interest in Lenders Protection, LLC which was a joint venture company created by Open Lending and Cuna Mutual Group in December of 2003. For the past six years the Lenders Protection program has been offered to credit unions all over the country. The initial rollout of the program was done in a controlled environment and limited to a few credit unions for the first two years. After the successful pilot program, it was decided to launch the program nationally in 2006…more

CUNA Mutual Announcement of investment in Open Lending

September 30, 2009

CUNA Mutual has entered into an agreement to transfer our existing interest in the Lenders Protection program to Open Lending, Inc. The Lenders Protection program has been offered to our customers through a joint venture between CUNA Mutual and Open Lending since 2003…more

Lenders Protection integrates with Teres Solutions SAIL

August 8, 2006

Teres Solutions(TM), Inc., a leading provider of direct and indirect lending software to credit unions and financial institutions, today announced that it has integrated its SAIL(R) Indirect software with Lenders Protection(TM), a service from CUNA Mutual Group that insures credit unions against loan default…more

Lenders Protection Helped Credit Unions Close $100 Million in Loans in First 18 Months

February 27, 2006

Noting positive results following a controlled rollout, CUNA Mutual Group’s Lenders Protection program has now expanded to all states.
Lenders Protection is an innovative default insurance program that enables credit unions to build their vehicle loan portfolios by lending to members with near-prime credit scores, while managing their risk of financial loss in case of borrowers’ default. The program is a joint venture between CUNA Mutual and Open Lending, Inc., of Austin, TX, and is underwritten by CUMIS, a member of CUNA Mutual Group …more

Open Lending, Inc. and Cuna Mutual Group enter joint venture

December 2003

In December 2003, Open Lending entered into a joint venture with CUNA Mutual Group, a $15 billion insurance company, with over 90% of all U.S. credit unions as customers. Open Lending and CUNA Mutual Group were 50/50 partners in Lenders Protection LLC, that has the exclusive right to offer its Lenders Protection auto loan default insurance program to credit unions…more