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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