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Aimbridge News Detail

--Lender now offers expanded product offerings to credit unions--

DENVER, Sept. 10, 2005 – Aimbridge Home Loans, a division of Aimbridge Lending and a full-service mortgage provider for credit unions and their members, announced a strategic partnership with Rockville, MD-based United Federal Mortgage (UFM).  Per the agreement, Aimbridge Home Loans, now known as UFM, will offer credit unions a broader range of products and services including government-backed (VA and FHA in some regions), sub-prime and student loans in all 50 states.

“It is important to note that the conversion will have minimal impact on how we conduct day-to-day business with our credit unions,” explains Donna Price, director of credit union affinity for United Federal Mortgage.  “The name will change, but the team from Aimbridge Home Loans will remain in place and continue to provide the same high level of service and support the credit unions expect.”    As an established entity, UFM is able to handle large loan volume as well as provide competitive pricing, additional loan options and increased flexibility.  By offering products and services that previously only larger lenders could provide, credit unions will have an additional value-add to its members.

“This alliance will greatly benefit our credit unions by allowing them to offer products and services that meet the individual home loan needs of members and potential members,” said Ann Schmitt, COO of Aimbridge.  “With access to each other’s resources, including the credit union market, technologies and people, both Aimbridge and United Federal Mortgage have a clear competitive advantage.”

Credit unions must be prepared to offer non-share draft services like home loans to members that move.  UFM is able to conduct business in all 50 states, making nationwide lending a realizable service.  “In order to build relationships and provide benefits to larger credit unions, we needed to offer a more complete range of loan products and provide financing in all 50 states,” Price said.  “Being backed by a federally-chartered organization such as UFM allows us to provide better pricing and services that we previously could not have.”

UFM plans to take advantage of Aimbridge’s national credit union presence and knowledge of the marketplace.  “We believe in Aimbridge, its experience in the credit union business and in affinity relationships,” Carl Berkelhammer, president of UFM said.  “Credit unions will always be positively impacted when these relationships are expanded, creating stability in a business that can be very volatile.”
 “We hope this partnership with United Federal Mortgage will help credit unions across the U.S. meet and exceed their business goals,” said Schmitt.  “Continuing to provide the most comprehensive range of lending services to credit unions is not only the key to long-term success, but is the cornerstone of the Aimbridge mission.  We are pleased that United Federal Mortgage has opted to partner with our company, and we look forward to a long-standing business relationship.”
 
About Aimbridge
  Founded in 1984, Aimbridge markets financial products, such as auto loans and insurance products through partnerships with credit unions. The company helps its partners attract members and deepen their relationships by providing members with more reasons to do business with their credit unions.
 Aimbridge Lending is comprised of three divisions, including Aimbridge Indirect Lending, Aimbridge Financial Services and Aimbridge Disposition Services.  The company is headquartered in Denver and has remote offices throughout the United States.    

For additional information, visit www.aimbridge.com

Editor’s Note:  To learn more about United Federal Mortgage visit www.unitedfederalmortgage.com.

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