CRIF Partners with PenFed

By Staff Writer September 09, 2020

CRIF Select, a provider of indirect lending partner programs, has reached an agreement with Pentagon Federal Credit Union (PenFed) for an exclusive indirect lending partnership. 

Headquartered in Tysons, Va., PenFed Credit Union serves over 2 million members with over $26 billion in assets and locations throughout the United States, Puerto Rico, Guam, and in Okinawa, Japan.

CRIF Select specializes in indirect auto lending partner programs. With an expert focus on dealer and market management, CRIF Select supports a client base of more than 5,000 auto dealers and over 130 full-service auto lenders. Its integrated technology-based solutions make loan approvals faster, more accurate, and virtually paperless, thereby delivering lower costs for institutions and better service for their customers and members. CRIF Select’s auto lending solution, Select Complete, provides full dealer management, underwriting, processing and funding, technology, and reporting and consulting services.

“Partnering with CRIF Select will help us expand our market footprint and reach new auto lending levels in 2020 and beyond,” said Ivan McBride, Director of Automotive Lending, PenFed Credit Union. “We are thrilled to partner with CRIF Select and their amazing team in order to reach our goals. We are immediately entering 10 new states and continue to work towards offering PenFed auto financing in all 50 states.”

CRIF Select’s Document Automation process is state-of-the-art and will allow PenFed to work with dealerships in a digital environment to collect and audit all contract and funding package documentation. 

A major benefit for PenFed Credit Union is that they will now be able to utilize CRIF Select’s connectivity to portals such as Dealertrack and RouteOne. 

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Last modified on Wednesday, 09 September 2020 13:16

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