LIVONIA, Mich. (3/19/14)--With the addition of Spireon, CU Solutions Group and Sprint will build on their relationship to expand auto lending capacity for credit unions.
CU Solutions Group (CUSG), a Michigan-based credit union service organization, already has an affinity relationship with wireless provider Sprint. LoanPlus CMS is available from Sprint and Spireon and is available to credit unions exclusively through CU Solutions Group.
"With this new affiliation, CUSG can expand our offerings for credit unions to help them grow their auto lending business and better serve their members," said Dave Adams, CEO, CU Solutions Group. He added that this "powerful and proven telematics solution" will help credit unions meet their auto lending objectives.
Spireon's LoanPlus CMS is a GPS-based collateral management system that allows credit unions to capture real-time data about their auto collateral's location, movement and status. Credit unions can use the data to improve member service, collateral management and collections.
The cooperative relationship among telematics, credit unions and telecommunications offers advantages for credit union members, said Brad Jarvis, chief marketing officer and executive vice president of products, Spireon. "CUSG will now be able to bring their credit union partners powerful, easy-to-use technology for tracking vehicles, managing collateral and reducing risk while extending loans to more members, including those with credit challenges," Jarvis said.