Open Lending signs Interra Credit Union to the Lenders Protection ™ program

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Interra CU Partners With Open Lending To Meet The Auto Lending Needs Of More Members

AUSTIN, Texas, Dec. 21, 2020 (GLOBE NEWSWIRE) – Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders across the States. United. They announced today that Interra Credit Union, a $ 1.3 billion institution based in Goshen, IN, has signed with Open Lending to implement its Lenders Protection ™ program.

“The needs of members are always the top priority at Interra,” said David Dekker, senior vice president of consumer services at Interra Credit Union. “We are thrilled with our partnership with Open Lending as it will allow us to serve more members, which is central to our mission to be the most trusted and valued financial resource of our members.”

Open Lending’s flagship product, Lenders Protection ™, is a unique automatic loan activation platform. It uses proprietary data and advanced decision analytics to provide lenders with a powerful way to increase close and non-senior auto loan volumes, without adding significant risk to their auto loan portfolio. Lenders Protection ™ allows auto lenders to model their overhead and specific financing costs and set a target ROA for their insured portfolio. The result is a profitable auto loan portfolio with carefully managed pricing and risk characteristics.

“It’s a critical goal at Open Lending to help institutions serve more members,” said Matt Roe, Director of Revenue at Open Lending. “The Lenders Protection ™ program will support Interra’s mission to meet the needs of more members while strengthening their reputation as a trusted financial partner.

About open loans
Open Lending (NASDAQ: LPRO) provides loan analysis, risk-based pricing, risk modeling, and default insurance to auto lenders across the United States. For 20 years, they have allowed financial institutions to build profitable auto loan portfolios by saying “yes” to more auto loans. For more information, please visit www.openlending.com.

Interra Credit Union
At Interra Credit Union, we believe in bringing words to life – to ‘speak the word’ in the products and services we provide and in the way we serve our members. We believe we are also part of a “big picture” in the credit union movement. And we believe we need to give back to our communities the privilege of doing business. The difference can be seen.

Media contact
Ginny Goertz | [email protected]

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