HOUSTON, Nov. 16, 2022 /PRNewswire/ -- Auto Financial Group (AFG) announced today that CU*Answers, a Credit Union Service Organization (CUSO) and a cooperative corporation headquartered and incorporated in Grand Rapids, Michigan, has signed a referral agreement and continues to advance the development of a future integration with AFG.
CU*Answers' integration with Auto Financial Group will allow balloon loan and member data to be pushed directly from CU*BASE, the CUSO's core processing platform, to the AFG calculator and then back to update the balloon loan application in CU*BASE, seamlessly.
This partnership further reinforces AFG's mission to bring its "Walk-Away" Balloon Lending and Leasing programs to financial institutions across the country in order to meet the rising consumer demand for lower auto payments. Through this relationship, AFG's Balloon Lending and Leasing programs will be even easier to access and implement for financial institutions in CU*Answers' network.
"We are excited to work with the CU*Answers team, and we are looking forward to bringing value to their clients with our residual based financing programs," said Richard Epley, CEO of Auto Financial Group.
CU*Answers CEO Geoff Johnson remarked that the AFG integration will be a great addition to the CU*BASE platform. "This is sure to be a major win for our clients, streamlining the process between core and AFG," Johnson said. "We are looking forward to working with AFG's team in bringing this offering to our network."
Learn more about AFG's programs at https://www.autofinancialgroup.com/products/
About Auto Financial Group
Auto Financial Group (AFG), a Houston-based company, provides an online, residual based, walk-away vehicle financing product called AFG Balloon Lending, as well as vehicle leasing and vehicle remarketing to financial institutions across the United States.
AFG's residual based financing solutions provide the advantages of lower payments, flexible terms, in the case of the balloon loan, actual ownership of the vehicle and several end-of-term options, including the option to surrender the vehicle and walk away in lieu of paying the final loan payment. The financial institution receives higher loan yields, a competitive residual based financing alternative, and AFG manages the entire end-of-term process.
The AFG Remarketing program is a proven solution for financial institutions that offers the greatest financial return to their clients by matching assets to the selling network with the greatest number of buyers.
For more information about AFG call toll free at 877-354-4234, or visit www.autofinancialgroup.com
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It's Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $28 billion in credit union assets. For more information, visit www.cuanswers.com.
SOURCE Auto Financial Group