Kevin Kindschi joined Open Lending as Regional Vice President of Sales April 1. He has a long history in insurance sales in credit unions, after retiring from CUNA Mutual following a 30-year career.
“This was a detour from retirement,” Kindschi said with a chuckle. He explained that most of his friends were still working and he wanted to, too. “It’s refreshing to be doing something a little different. It’s nice to focus on one product and do it well.” His territory includes credit unions in California, Arizona and Nevada.
“We are very excited to welcome Kevin to the Open Lending team,” Open Lending CEO John Flynn said. “He brings a wealth of industry knowledge and a history of sales success through integrity that we appreciate here.”
“Open Lending brings a tremendous value to the table,” Kindschi continued. “A lot of people need financial help. With Open Lending’s Lenders Protection, credit unions will definitely be able to serve more members, particularly those who are credit challenged.”
Kindschi gave the example of his 22-year old son, who wanted a credit card but was turned down by a credit union because he was young and didn’t have much credit. He then went to another credit union that approved him. He soon became a raving fan of his credit union and subsequently took out a car loan from them as well. “My son’s credit union created a sense of loyalty for my son toward the credit union,” Kindschi explained, “and that’s the type of opportunity Open Lending’s Lenders Protection affords credit unions.”
“Credit unions have increased their loan-to-share ratios, but that’s mostly on A-paper loans,” Kindschi concluded. “With Lenders Protection, credit unions can reach more members, earn more interest income and help more borrowers with lower credit scores achieve greater financial stability and earn their way to lower rates.”
Lenders Protection, the flagship product of Open Lending, provides default insurance so credit union leaders can feel greater confidence and security – for the credit union, its members and its regulators – in making loans to members with lower credit scores. Lenders Protection allows credit unions to reach more members with the goal of helping them rehabilitate their credit while generating higher yields on the loans credit unions make and lifelong loyalty from the members they assist.
ABOUT OPEN LENDING, LLC Open Lending, LLC works exclusively with automotive lenders by providing loan analytics, risk-based pricing, risk modeling and automated decision technology. Based in Austin, Texas, the company serves more than 400 financial institutions nationwide. Through its proprietary technology, the Lenders Protection Program, financial institutions leverage powerful tools and customized analytics to underwrite direct and indirect loan approval decisions in seconds. Lenders are empowered to increase near and non-prime automotive loan volumes and yields with the protection of A-rated insurance carriers, preventing additional risk to their loan portfolio. Founded in 2000, Lenders Protection, LLC, is a wholly owned subsidiary of Open Lending, LLC.