Open Lending Inks Deals with 35 Credit Unions

Earn up to 400% higher net ROA over prime portfolios

AUSTIN, Texas, August 12, 2019 – Open Lending, a premier provider of automated lending solutions and Lenders Protection default insurance, signed deals with 35 new clients in the first half of 2019.

John Flynn, Open Lending President & CEO

“Open Lending is very pleased that so many credit unions are seeing the value in our offerings, from risk analysis to our Lenders Protection program that helps credit unions safely earn higher yields on loans to credit-challenged members,” Open Lending CEO John Flynn said. “Given the softening in the auto lending market, right now is a perfect time for credit unions to test the near- and non-prime waters.”

Open Lending Lenders Protection credit union clients earn 300% to 400% higher net ROA on their near- and non-prime portfolios than on their prime portfolios. Open Lending uses various alternative data and trends to determine credit unions’ best risks to take with members who don’t have an A credit profile, and they’re backed by Lenders Protection default insurance.

“Lenders Protection helps credit unions say ‘yes’ to more loans!” Flynn added. “It helps you earn more from those loans your credit union might otherwise turn away, and you help your member get a loan or save money on a refinancing while becoming their financial hero and partner.”

The credit unions joining Open Lending this year range in size from $15 million to $4.3 billion, demonstrating the value, affordability and return of the program to all sizes of credit unions, from Idaho to Virginia to Texas.

In the first half of 2019, Open Lending welcomed:

Advantage One Credit Union

Argent Federal Credit Union

Bellwether Community Credit Union

CME Federal Credit Union

Coulee Dam Federal Credit Union

Greater Eastern Credit Union

Henrico Federal Credit Union

Hutchinson Government Employees CU

On Tap Credit Union

Richfield-Bloomington Credit Union

Sebasticook Valley Federal Credit Union and dozens more.

Open Lending provides automated lending services to financial institutions. The company specializes in loan analytics, risk-based pricing, risk modeling and automated decision technology for automotive lenders throughout the United States. Its flagship product, Lenders Protection is a unique auto lending program for direct and indirect loans that provides a powerful and safe way for lenders to increase near- and non-prime auto loan volumes and yields without adding risk to their loan portfolio. Open Lending was named to Austin Business Journal’s Fast 50 list for 2013, 2014, 2015, and 2016 of the 50 fastest growing companies in Central Texas.