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Aimbridge News Detail

--Information management system to help credit unions manage indirect loan portfolios--

DENVER, July 20, 2005 – Aimbridge Indirect Lending announced its enhanced credit union information management system, BridgePoint™, designed to help credit unions manage their indirect loan portfolios.  BridgePoint is scheduled to launch on Aug. 1, 2005, with full implementation capabilities by Oct. 1, 2005.  Aimbridge Indirect Lending is a national distribution channel that connects credit unions with an automotive dealer network to provide members and potential members with automobile loans and leases.

The new BridgePoint solution provides in-depth information to assist credit unions in managing risk and maximizing program performance.  It offers concise report organization and structure for credit unions and provides detailed transaction reports; summary/trending reports; and executive steering reports on applications, funding and staff management. 

Ann Schmitt, COO of Aimbridge, said, “Aimbridge created BridgePoint to give credit unions access to executive level performance data and information needed to analyze and manage their indirect business.  We are confident that this information management system will increase business opportunity and positively effect overall credit union operations.”

BridgePoint was designed to provide credit unions with quick and easy access to the in-depth information needed to analyze and manage indirect lending business.  Features of BridgePoint include information on dealerships, credit analysts, new versus used vehicles, member/new member tracking, and credit tier distributions.  It also provides loan attributes including rate, term and loan-to-value (LTV).  Credit Union customers will also have access to month over month trending reports that were not previously available online. 

BridgePoint offers many advantages for credit unions, including easy access to information that may be required by regulatory agencies and enabling proactive management of the indirect program.  The solution identifies issues before critical problems emerge and highlights potential areas of opportunity for the credit union to pursue.

Aimbridge offers two packages from which credit unions can choose.  The Summit Package, which does not require the purchase of additional software, includes monthly base reports sent via email, daily ACH funding details and turn-time reports.  The more advanced Apex Package requires a software license but delivers expanded reporting options.  Apex delivers the remaining detail reports plus 15 additional reports, both the detail and summary, as well as the monthly executive steering report -- all with 24/7 online access.

“Indirect auto lending is rapidly becoming an important part of total credit union lending activities,” Schmitt said.  “Identifying emerging trends and managing risk has never been more important, which is why Aimbridge is working to ensure credit unions have the best technology, tools and information to manage their indirect lending portfolios.”

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.