Open Lending Joins CUNA as Associate Business Member to Champion the Credit Union Movement and Near-Prime Consumers

Rhea-AI Summary

Open Lending Corporation (NASDAQ: LPRO) has joined the Credit Union National Association (CUNA) as an Associate Business Member to advocate for credit unions and their members. The company aims to provide strategic advisory on serving the near- and non-prime credit segments, offering competitive loan terms to qualified borrowers through their Lenders Protection™ solution. Open Lending will also participate in CUNA events, such as the CUNA Lending Council Conference in November.

Lending enablement provider joins forces with CUNA to advocate for credit unions and their members and provide strategic advisory on serving the near- and non-prime credit segments

AUSTIN, Texas--(BUSINESS WIRE)-- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced it has joined the Credit Union National Association (CUNA) as an Associate Business Member.

“At Open Lending, we fully support the credit union industry’s mission to provide opportunities to consumers underserved by traditional financial institutions,” Kevin Filan, senior vice president of marketing at Open Lending said. “We launched Lenders Protection™ in the credit union marketplace to make automotive loans fair, accessible and more affordable. Using alternative data to determine borrower potential, our solution empowers credit unions to offer competitive loan terms to qualified near- and non-prime borrowers who may not be able to access loans otherwise. Through this partnership with CUNA, we will aim to build on our support for credit unions and their members and contribute to a future where the industry can thrive.”

As a CUNA member, Open Lending will elevate the credit union movement through industry advocacy, and thought leadership on how to provide critical services for the underserved near- and non-prime credit segments. The company will also show its support on speaking panels at CUNA events, such as the CUNA Lending Council Conference November 12-15 in Denver, Colorado.

“CUNA is proud to partner with an organization so committed to expanding automobile access to deserving, yet often underserved borrowers,” said Karin Sand, vice president of sales for CUNA System Provider Relations. “Open Lending’s 20-plus years of expertise in AI-powered decisioning and cutting-edge technology will be a valuable asset to our community of like-minded credit union professionals.”

Learn more about Open Lending at openlending.com.

About Open Lending

Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years we have been empowering financial institutions to create profitable auto loan portfolios in excess of $20 billion with less risk and more reward. For more information, please visit www.openlending.com.

About CUNA

Credit Union National Association (CUNA) advocates on behalf of America’s credit unions, which are owned by more than 137 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. Learn more about the merger to form America’s Credit Unions. To find your nearest credit union, visit YourMoneyFurther.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231109686581/en/

Alison Smith for Open Lending

openlending@ink-co.com



Investor Relations Inquiries

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Source: Open Lending Corporation

FAQ

What is the latest announcement from Open Lending Corporation (NASDAQ: LPRO)?

Open Lending has joined CUNA as an Associate Business Member to support credit unions and their members, providing strategic advisory on serving the near- and non-prime credit segments.

How does Open Lending aim to help credit unions and their members?

Open Lending's Lenders Protection™ solution uses alternative data to determine borrower potential, empowering credit unions to offer competitive loan terms to qualified near- and non-prime borrowers who may not be able to access loans otherwise.

What events will Open Lending participate in as part of the partnership with CUNA?

Open Lending will participate in CUNA events, such as the CUNA Lending Council Conference in November, to elevate the credit union movement through industry advocacy and thought leadership.