IRVINE, Calif.–Spireon, a provider of telematics, risk management and location-based business intelligence solutions, and the CUSO CU Solutions Group have announced a partnership focused on mitigating auto lending risk for credit unions.
CUSG 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, the organizations said.
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, according to Spireon.
“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,” the organizations said. “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.”
“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 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.”