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Dow Louisiana Federal Credit Union Joins Wolters Kluwer AppOne Platform

April 07, 2009

BATON ROUGE, La. — AppOne, a part of Wolters Kluwer Financial Services, announced Monday that Dow Louisiana Federal Credit Union (DLFCU) is the first lender to join AppOne’s credit union platform.

AppOne provides risk mitigation, compliance and Internet-based workflow automation technology to independent auto dealers and auto lenders throughout the United States.

Using the AppOne platform, DLFCU is able to offer auto financing to Louisiana residents through AppOne’s dealer network. AppOne’s technology and risk mitigation solutions help DLFCU reduce the level of risk associated with doing business with individual dealerships. Leveraging lowered origination costs and enhanced profitability realized from the AppOne platform, DLFCU can offer better financial products to its members and everyone in the Greater Baton Rouge area community.

For independent auto dealers that have seen large, national lending sources dry up in recent months, AppOne’s relationship with DLFCU offers an opportunity to access another lending source that can help them service their customers and sell more cars.

“Dealers’ number one concern right now is financing,” said Lee Domingue, CEO of AppOne. “AppOne not only provides them with access to a variety of lenders, but we also help ensure their loan documentation is compliant so they can maintain positive relationships with those lenders over time.”

“AppOne makes it easier to connect with the independent auto dealer marketplace, which helps us grow our member base,” said Jeff Hendrickson, president and CEO of Dow Louisiana Federal Credit Union. “By vetting each dealer that joins its platform, and providing an efficient and effective risk management system, AppOne helps us offer auto loans to existing members, as well as potential members residing in the nine-parish Greater Baton Rouge area.”

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