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This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.

If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at ads@creditunions.com or 1-800-446-7453.

October 13, 2008


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Are you stll around?

7/26/2012 04:05 PM

I think this solution is a fantastic idea. Our OS has software and has approached us to use their "retail" module. Does anyone know if Lifestyles is doing more than software?

Anonymous

7/26/2012 04:05 PM

Great Question! Software, in itself, is not the challenging part of lifestyle lending...finding the right company with the expertise in this lending arena is. Because Lifestyle Lending Solutions is the first company of its kind, it has established a track record and important knowledge base with working side alongside medical and retail providers. Credit Unions rely on LLS' industry knowledge of indirect lifestyle lending; and medical and retail providers rely on LLS' expertise in the Credit Union industry.

Lifestyle Lending Solutions offers the following services in ADDITON to a software solution:

• Assist and consult in planning and development of a lifestyle lending program for the credit union.

• LLS has exclusive key relationships with national partners allowing to develop a lifestyle market quickly and efficiently.

• Provide full training for business services departments in sales techniques and market relations in the medical and retail field.

• Provide full training, troubleshooting, and support for medical and retail Providers on the LLS network.

• LLS Handles all contracts from loan notes to contracts for providers to join as well as all compliance and document preparation.

• LLS places marketing material in the provider's offices with credit applications located inside with 3 ways to submit the application to lenders on the platform.

• LLS provides a website (Find a Doctor/Retail) for credit unions to present to their members so they can search for doctors and retail business in their area that are partnered with their credit union.

• Much more!

Bottom line, LLS takes the headache out of developing a program from the start. LLS becomes a partner with the credit union to ensure that you, the credit union, can do it... do it right... and do it right now! If you would like additional information or discuss Lifestyle Lending in your are please call us toll free (866) 529-5432

Lifestyle Lending Solutions

7/26/2012 04:00 PM

Many credit unions have contacted us from this article and have had similar questions. I thought it worth mentioning all the benefits and features that come with working with Lifestyle Lending Solutions. LLS Provides: Software: - Automated Underwriting - Document prep for doctors upon approval - Automatic Approvals - Robust reporting suite - Easy Fax Funding (Imaging) - Find a Provider” Program viewable from lender’s website Services: - Consult credit unions on their lifestyle lending, teach and train loan officers - Train and support all medical and retail providers - Contract the providers, saving the credit union time and money with their own contracts - Offer a network of credit unions and providers. If a credit union uses a software solution, they must develop their own market and that market is limited in growth when only 1 lender is available. (maybe we could highlight how our solution provides the strength of multiple lenders instead of letting them derive that 1 lender is weak. Just a thought, not a for sure) - Provide all marketing materials to providers - Provide our “find a doctor” (http://www.lifestylels.com/findDoctor.php ) program, which is available for credit unions to put on their website as a tool for their members to seek out doctors that offer their financing. - We allow for patients to also apply from home through our patient portal in addition to the traditional was which the provider submits to the credit union. - Offer direct mailing and marketing to the providers in an area on behalf of the credit union. Simply put, we will help your credit union build a successful lifestyle lending program without the hassle of trial and error. Let us know how we can help you!

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