Teres Solutions signs six credit unions to SAIL

Source: Teres Solutions

Teres Solutions, Inc., a leading provider of direct and indirect lending software to credit unions and financial institutions, today announced that it has signed six new credit union customers.

With combined assets of more than two billion dollars the new clients join the more than 35 other credit unions and financial organizations that have already standardized on Teres Solutions SAIL software to automate and manage their indirect and direct lending programs. New customers that are using SAIL Indirect to automate their indirect lending programs include Navigator Credit Union, TopLine Federal Credit Union, OSU Federal Credit Union, Numerica Credit Union and North Coast Credit Union. 1st Community Federal Credit Union, a SAIL Indirect customer since March 2004, has selected SAIL Direct to automate its direct lending program.

In addition to its new credit union customers, Teres Solutions also announced that Quantum Auto Group has selected SAIL Indirect. The leading brokerage firm for automotive finance will use the SAIL software to accelerate its lending business.

"When we experienced how much SAIL Indirect helped us to streamline, automate and grow our indirect lending program, we wanted the same capabilities for our direct lending program," said Bill Nikolauk, President of 1st Community Federal Credit Union in San Angelo, Texas. "Using Teres Solutions SAIL Indirect and SAIL Direct software together provides us an integrated way to handle both lending programs, while seamlessly interfacing with our core system. To date, we've realized significant loan volume improvements as a result of using SAIL software to streamline and automate our lending processes."

"Attempting to build a successful indirect lending program as a small finance company can be a formidable task," said Syd Ally, President of Quantum Auto Group. "However, Teres Solutions SAIL software simplifies the process by giving us the functionality and flexibility we need to automate manual lending decisions and achieve our growth goals without adding staff."

"Over the past several years we have achieved tremendous momentum in the credit union and financial institution lending automation market because we provide our customers with the advanced capabilities they need at a price they can afford," said Bruce Callen, president of Teres Solutions, Inc. "We are pleased to be working with this new group of top-notch customers and look forward to helping them increase their membership while reducing lending costs."

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