Clark County Credit Union of Nevada signs with Open Lending.
AUSTIN, TX [July 29, 2020]- 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 Clark County Credit Union, a $850 million institution based in Nevada, has signed with Open Lending to implement the Lenders Protection™ program.
Clark County Credit Union CLO, Josh Haldeman, commented, “We are excited about the opportunities that our partnership with Open Lending will present. We expect it will increase loan volume and reduce risk! Sounds like a win-win!”
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 near and non-prime 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.
Open Lending’s Chief Revenue Officer, Matt Roe, said, “We are committed to helping Clark County Credit Union increase their auto loan volume through the Lenders Protection™ program. We know that our partnership will help them serve more members while mitigating risk.”
About Open Lending
Open 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.
About Clark County Credit Union
Founded in 1951, CCCU is a not-for-profit financial institution serving over 46,000 members who are municipal employees (Clark County, City of Henderson, City of Las Vegas and City of North Las Vegas), medical professionals, members of Nevada Public Radio (KNPR) and numerous select employer groups. CCCU has assets of $860 million and six branches throughout Southern Nevada. More information about CCCU can be found online at www.ccculv.org.
Source: Open Lending