LEVERAGE, the service corporation of the League of Southeastern Credit Unions & Affiliates (LSCU), which equips credit union partners with products and services to fulfill day-to-day needs, announced today that it has named PassTime GPS as its preferred GPS provider. PassTime is the industry leader in high-tech GPS tracking and automated collection technology solutions for auto financing.
This technology will provide credit unions with a greater ability to grow more members with added protection, improve member payment performance, and reduce delinquency rates. It also provides the tools to increase originations without increasing staff. PassTime GPS technology helps ensure accounts stay current and can help create opportunities to cross-sell to a more loyal borrower.
“At LEVERAGE, part of our mission is to offer new strategies to credit unions for loan growth. PassTime GPS is designed to provide participating credit unions with a stronger competitive advantage in auto lending,” stated LEVERAGE President/CEO Patrick La Pine. “The market for sub-prime lending is expanding, and PassTime GPS will deliver resources needed for credit unions to meet the growing needs of this market.”
Improving the bottom line by reducing expenses, growing loans and increasing non-interest income, as well as improving regulatory compliance, LEVERAGE offers products to increase operational efficiencies for credit unions across all environments. Streamlining actions that free-up valuable organizational resources allows more time to concentrate on serving members. When credit unions support LEVERAGE, they are supporting the credit union system. LEVERAGE brings simple solutions that pay big dividends.
PassTime, which has been in business for nearly 25 years, offers wireless GPS telematics products that are available for multiple sectors of the automotive industry, including new and used auto dealers, auto finance companies, auto leasing companies, insurance companies, and fleet transportation providers. Some of the product features include tamper detection, scheduled payment reminders, web based command management, tamper detection, and text/email communication.
“We are very excited to partner with LEVERAGE as the group’s preferred GPS provider,” said Chris Macheca, COO at PassTime. “LEVERAGE has built a reputation in the industry as partnering with best-in-class vendors to offer its members access to solutions to help their businesses. We look forward to continuing to help credit unions increase their collections and reduce repossessions with our GPS and automated collection technology.”
For more information about LEVERAGE and its products and services, contact Rhea Oaks, director, product management, at 866.231.0545 x 1146.