Dow Louisiana Federal Credit Union Joins Wolters KIuwer Financial Services’ AppOne Platform
Baton Rouge, LA - AppOne, a part of Wolters Kluwer Financial Services, announced today that Dow Louisiana Federal Credit Union (DLFCU) is the first lender to join AppOne’s credit union platform. AppOne provides risk mitigation, compliance and Internet-based workflow automation technology to independent auto dealers and auto lenders throughout the United States.
Using the AppOne platform, DLFCU is able to offer auto financing to Louisiana residents through AppOne’s dealer network. AppOne’s technology and risk mitigation solutions help DLFCU reduce the level of risk associated with doing business with individual dealerships. Leveraging lowered origination costs and enhanced profitability realized from the AppOne platform, DLFCU can offer better financial products to its members and everyone in the Greater Baton Rouge area community.
For independent auto dealers that have seen large, national lending sources dry up in recent months, AppOne’s relationship with DLFCU offers an opportunity to access another lending source that can help them service their customers and sell more cars.
“Dealers’ number one concern right now is financing,” said Lee Domingue, CEO of AppOne. “AppOne not only provides them with access to a variety of lenders, but we also help ensure their loan documentation is compliant so they can maintain positive relationships with those lenders over time.”
“AppOne makes it easier to connect with the independent auto dealer marketplace, which helps us grow our member base,” said Jeff Hendrickson, president and CEO of Dow Louisiana Federal Credit Union. “By vetting each dealer that joins its platform, and providing an efficient and effective risk management system, AppOne helps us offer auto loans to existing members, as well as potential members residing in the nine-parish Greater Baton Rouge area.”
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Based in Baton Rouge, La., AppOne, a part of Wolters Kluwer Financial Services, is an Internet-based company offering a technology solution that connects independent auto dealers with lenders. The AppOne system relies on the company’s proprietary scorecard system, which evaluates each independent dealer to determine the level of risk associated with doing business with that dealer. It also automates the funding process for dealers by printing all documents required to complete the booking of auto loans. AppOne provides lenders with a new channel of growth and field representation directly to independent auto dealers nationwide. It offers dealers faster financing options for their customers, support services and additional aftermarket fee-based products. For more information on AppOne, visit www.AppOne.net.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.
About Dow Louisiana Federal Credit Union
Dow Louisiana Federal Credit Union (DLFCU) is a $170,000,000 financial institution and serves more than 20,000 members. DLFCU was opened in 1972 and operates locations in Plaquemine, Baton Rouge, Gonzales and Walker. DLFCU offers a full range of financial services, including loans, credit cards, checking accounts, online and business banking. For membership information, please contact DLFCU at 1-888-369-2207, or visit www.dowlafcu.org.
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