Sprint and Spireon have built on their recently established fleet-management alliance through an agreement with CU Solutions Group (CUSG), which serves the credit union industry.
CUSG (Livonia, MI, USA) is to add Spireon’s (Irvine, CA, USA) LoanPlus collateral management system (CMS) to its array of services for credit unions that want to provide automotive loans to their members while reducing their risks.
The LoanPlus CMS is a GPS-based system allowing unions to capture real-time data about their automotive collateral’s location, movement and status and then leverage data to improve member services.
The latest version runs on the Sprint (Overland Park, KS, USA) 3G nationwide network and boasts a subscriber base of more than 1.7 million.
“This cooperative relationship between leaders in three industries – telematics, credit unions and telecommunications – offers unique advantages for credit union customers,” says Brad Jarvis, Spireon’s chief marketing officer and executive vice president of products. “CUSG will now be able to bring their credit union partners powerful, easy-to-use technology for tracking vehicles, managing collateral and reducing risk while extending loans to more members, including those with credit challenges.”
Sprint claims its long-standing relationship with credit unions and CUSG was crucial to winning the deal.
“This expanded affiliation with CUSG and Spireon builds on our track record of bringing innovative solutions to credit unions across America,” said Brian Miller, regional vice president at Sprint.
Spireon says the tie-up with Sprint is bringing a “new dimension” to acquiring, servicing and managing the risk of auto loans.
“This was evident, as we received an overwhelming response during the Credit Union National Association’s Governmental Affairs Conference last month,” said David Meyer, executive vice president of Spireon’s Automotive Solutions Group. “In addition to being able to now serve more of their credit union members, everyone will see a brighter future as the technology this partnership is bringing has future-ready built in.”
Sprint and Spireon formed a strategic partnership aimed at addressing opportunities in the fleet-management area earlier this month.