Case Study: Sound Credit Union increases auto loan volume and yield with Open Lending’s Lenders Protection™

Sound Credit Union boosts auto loan yield by 8% with Open Lending

Sound Credit Union, based in Tacoma, Washington, was searching for an auto lending solution to provide better rates to its members while increasing profitability and expanding its portfolio. To meet this challenge, the credit union turned to vendor Open Lending and its Lenders Protection™ program.

Open Lending implemented its Lenders Protection™ solution, which integrated seamlessly with Sound's existing loan origination system. This provided advanced risk modeling and enabled faster loan approvals. As a result, Sound Credit Union increased its auto loan volume and yield by over 8%, expanded its portfolio by identifying trustworthy borrowers, and built stronger relationships with local dealers, all while mitigating risk.

Sound Credit Union