FLDI and Members Insurance Announce 50th Credit Union Customer.
- Leominster Credit Union now using MemberClose bundled services platform -
AUSTIN, Texas, June 1, 2005 - First Lenders Data, Inc. (FLDI) , an Austin, Texas-based provider of bundled settlement service solutions to the mortgage lending industry and Marlborough, Mass.-based Members Insurance Agency, LLC, an insurance solution provider owned by the Massachusetts, New Hampshire and Rhode Island Credit Union Leagues, recently announced Leominster Credit Union (Leominster, Mass.) is the 50 th credit union to begin using MemberClose , a licensed version of FLDI's bundled services FirstClose TM platform.
FLDI and Members Insurance formed a strategic alliance in May 2004 to provide FLDI's products and services through MemberClose to customers such as Leominster Credit Union. The credit union has access to a variety of services, which include production of credit reports, flood zone determinations, automated valuation models (AVMs), lien reports, doc prep, title reports, closing and recording services.
" MemberClose enables us to be more competitive in the home equity marketplace," said Gordon Edmonds, Senior Vice President of Lending at Leominster CU. "Using the platform, we are able to pick and choose the mortgage services that best fit our needs and help us provide a wider variety of cost-effective services to our members."
"" Since January, the number of credit unions using MemberClose has increased by approximately 80 percent ," said Robert F. Delaney, COO of Members Insurance Agency. "By creating a strategic alliance with FLDI, we are able to provide credit unions with a technology solution that streamlines the home equity lending process, saving them time and money."
FLDI offers bundled services through alliance partners such as Members Insurance to provide a cost-effective vendor management solution for lenders to better manage the origination process and enable users to select the best technology to meet their own individual needs. Users can integrate through their front-end origination systems and select a variety of technology
options that include credit reports, automated valuations models (AVMs), conventional appraisals, flood certifications, property reports, legal and vesting reports, mortgage loan reports, title services, closing services, recording services and income verification.
"FLDI has been able to offer customers such as Members Insurance the ability to consolidate vendor management and enhance the quality and variety of services," said Tedd Smith, CEO of FLDI. "Members Insurance's credit union customers, such as Leominster Credit Union, then leverage these services into a competitive edge."
About Leominster Credit Union
Founded in 1954, Leominster Credit Union (Leominster, Mass.) is a member-owned, non-profit financial cooperative that provides its members with a full range of deposit, lending and financial services. The company has more than $300 million in assets and serves more than 30,000 members. Financial services are provided through a network of branches, ATMs, telephone and online banking channels.
For more information on Leominster Credit Union, please visit their Web site at www.leominstercu.com.
About Members Insurance Agency
Members Insurance Agency, LLC is owned by the M assachusetts, New Hampshire and Rhode Island Credit Union Leagues. Based in Marlborough, Massachusetts , Members Insurance is dedicated to helping credit unions find more effective insurance solutions. The company specializes in lending-related insurance products such as Vendors Single Interest (VSI) insurance, forced-placed insurance and mortgage impairment products and also provides employee benefit solutions to more than seventy-five credit unions.
For more information on Members Insurance, please visit their Web site at www.membersllc.com.
About First Lenders Data, Inc.
First Lenders Data Inc. (FLDI) is an Austin, Texas-based provider of settlement service solutions to the mortgage lending industry. FLDI offers its products and services through its proprietary Web-based FirstClose TM platform. The company's product offerings include credit
reports, flood certifications, AVMs and traditional valuation products, as well as income verification title, doc prep, closing, and recording services. Additionally, FLDI provides more progressive services, including hybrid and gap valuations, and alternative lien reports.
For more information on FLDI's products and services, please visit the corporate Web site at www.fldi.com.
<<Back to List |
