HOUSTON (December 18, 2012) -Shaw Systems Associates, Inc. announced that The Credit Union Loan Source, LLC (CULS) has signed a hosting agreement for Shaw RETAIL and COLLECTIONS products.
Credit Union Loan Source, a credit union service organization owned by several Georgia credit unions, will use Shaw’s RETAIL product to service indirect and direct auto loans. The organization will also deploy Shaw’s COLLECTIONS solution for collections management.
“Shaw’s RETAIL and COLLECTIONS products will help CULS automate processes and navigate the dynamic and competitive indirect and direct auto loan market,” said Cyndy Stone, Chief Operating Officer of Shaw Systems. “We’re pleased that that the company has chosen our software to support its customers.”
“As our business has grown we began to look for additional features and functionality in our servicing and collections systems,” said Terry Meek, CULS’ Senior Vice President and Chief Operating Officer. “Shaw Systems offered the best the market has for what CULS needs. Its history as the leader in auto loan servicing and collection platforms is well known and well respected. The choice was easy.”
About Credit Union Loan Source
CULS is a credit union service organization owned by several Georgia credit unions. CULS purchases retail installment contracts from dealerships and participates those loans to partnering credit unions. CULS retains an ownership interest in the loans and continues to service the loans for the participants.