ORIGENCE LENDING SERVICES FUNDS $6.38 BILLION IN CREDIT UNION LOANS FOR 400,000 MEMBERS IN 2023

Irvine, California, March 05, 2024 (GLOBE NEWSWIRE) — Origence Lending Services (OLS), a division of Origence, funded $6.38 billion in loans with 160 credit unions, benefitting more than 413,000 members in 2023. In addition, the division added 40 new credit union enrollments, broadening its services to encompass underwriting across multiple systems, direct lending, and retail financing support. Services beyond the division’s traditional indirect loan processing now constitute nearly 30% of its overall business.

Origence Lending Services provides credit unions with scalable outsourced solutions to streamline their lending operations. Core services include full-service indirect lending, after-hours staffing and overflow support, document services, and underwriting support.

“Credit unions understand that outsourcing with a trusted CUSO like Origence Lending Services provides a seamless extension of operations to support membership and loan growth,” said Neetu Bhagat, CFO for Origence. “Importantly, this strategy comes with less financial risk, as operational costs are commensurate with loan growth.”

To keep …

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