XpressCredit has a cost effective, patent pending solution to automate and accelerate the indirect automotive financing process by increasing the speed of deal completion between Financial Institutions and automobile dealers.

This program provides an alternative source of consumer financing for credit unions to offer to Members that do not meet minimum lending criteria. The uniqueness of this program is that it increases fee income, enhances member service, improves profitability and reduces risk for credit unions of all sizes.

The program is accessed via the Internet, through a portal accessible by a credit union while a member is at the credit union. XpressCredit has relationships with national and regional lenders for auto, home, boat, RV, and motorcycles.

The relationship with these lenders includes the following:

	Referral fee to the credit union for each member loan that is funded. This fee varies based on the product type
	Each national lender that offers other products besides the one being financed has executed agreements that they cannot cross-sell the respective member other competing products
	The program's features include simple implementation, quick loan approval or declination, one central processing facility and a complete marketing initiative to members. The member's loan is off balance sheet and fee income is earned.
	Credit Union Benefits
	Increase in fee income from non-converted loans
	Fast decisions
	Increase in member satisfaction and retention through the convenience of the financing program
	The credit union provides a service to the member, with the member refraining from “surfing” the web or other channels to find alternative financing
	Decrease expenses and delinquencies