Spireon and CU Solutions Group announced today, a new partnership focused on mitigating auto lending risk for credit unions. CU Solutions Group (CUSG), a credit union service organization, will exclusively offer to its national network of credit union clients Spireon’s GoldStar Lender solution, which includes tools to help control the rise in delinquencies by staying connected to borrowers.
CU Solutions Group provides technology solutions and other services to help credit unions improve business operations and efficiencies. GoldStar Lender CMS is the vehicle finance industry’s leading GPS-based locator solution, proven to help increase loan portfolio performance and reduce loan delinquencies.
GoldStar Lender will give participating credit unions a secure, web-based portal to automatically locate assets and communicate with borrowers quickly, enabling them to proactively address situations that can lead to delinquencies. With real time vehicle data, payment reminders, and tools to incentivize on-time payments, GoldStar Lender allows credit unions and other auto finance organizations to effectively manage a much larger loan portfolio with less risk.
“With GoldStar Lender, credit unions can now use a wealth of real-time data about their automotive collateral and tools to conveniently communicate with borrowers to better manage their collateral, increase recovery success rates when needed, and significantly increase their auto loan performance,” said Todd Abbott, chief revenue officer at Spireon. “The partnership with CUSG allows us to bring our GoldStar solution to credit unions more efficiently, and provides valuable feedback from their members to ensure we maintain our leadership role in the vehicle finance market.”
“CU Solutions Group is dedicated to continually delivering innovative technology solutions, like the GoldStar Lender CMS, to credit unions. This new solution allows credit unions to control auto delinquency losses,” said CU Solutions Group CEO Dave Adams. “We are pleased to offer the GoldStar Lender solution since it bridges the communication gap among the lender, dealer and borrower. It will allow the dealer and credit union to focus on core business with less worry about potential risks in their loan portfolio.”