NCBA CLUSA associate member and business sponsor Inilex, a leading provider of telemetry solutions for vehicles, is expected to open the door for credit unions and other financial cooperatives to access the latest GPS technology to optimize their auto-lending programs.
InilexGPS is a risk-mitigation system designed to help lenders and auto dealers reduce the costs associated with delinquent customer payments and repossessions. Additionally, by making InilexGPS a requirement to obtain a loan, credit unions in particular can extend higher-yielding consumer loans, which helps borrowers purchase better vehicles at reasonable interest rates, enhancing the credit union’s portfolio.
InilexGPS uses telematics to track vehicles 24/7 across all corners of the country, and includes features such as in-car payment reminders and starter interrupt functions to assist with timely loan collections. The system has already been adopted by a broad segment of credit union and private lending organizations as well as several major national banks.
“Credit unions require affordable and flexible ways to secure their assets, which makes GPS technologies particularly valuable for this segment of lenders,” said Michelle Jackson, senior director of InilexGPS. “We recognize that credit unions aren’t in the technology business, they’re in the finance business, so we focus on keeping the technology part simple and straightforward, allowing them to focus on serving their members, not on their recovery operations.”
As an NCBA CLUSA associate member and business sponsor, Inilex will deliver a series of workshops and discussions to help educate NCBA CLUSA members on the value of GPS technology for lending, as well as for fleet management. InilexGPS FLEET offers affordable and flexible fleet solutions for cooperatives with fleets of 50-100 vehicles. InilexGPS FLEET helps organizations reduce cost-of-ownership, lessen fuel usage and improve the efficiency of their mid-size fleets.
Pat Sterner, COO of NCBA CLUSA’s domestic operations, welcomed Inilex as an associate member and our newest business sponsor. “Our goal is to provide all of our members with more ways to take advantage of leading-edge technology that make their businesses more efficient and effective, without significantly impacting their expenses,” Sterner said. “Helping find unique solutions like GPS technology is one of the benefits NCBA CLUSA offers its members.”
Inilex is a Silver-Level Business Sponsor of NCBA CLUSA. Headquartered in Phoenix, Arizona, Inilex® is an Inc. 500|5000 company and the industry-leading provider of intelligent telemetry solutions. It combines the power of the Global Positioning System (GPS) with the flexibility of a best-in-class wireless messaging system to develop telemetry solutions for businesses and consumers alike. The company was named one of America’s Most Promising Companies by Forbes in 2013 and 2014, a Deloitte Technology Fast 500 company, and its technology has won numerous awards including the Connected World 100 for four consecutive years.