MoneyAisle.com Signs 100th Credit Union to its Network to Offer New and Used Auto Loans and Refinancing
July 8, 2010
Credit Unions and Banks join MoneyAisle.com network for Access to Consumers Nationwide
Burlington, MA - MoneyAisle.com, a free, fully-automated on-line reverse auction site, has signed their 100th credit union to the network of credit unions and banks that help consumers find great rates for auto loans and refinancing. Launched in June 2008, MoneyAisle.com has offered auto loan rates since May 2010.
Credit unions and banks are pleased at how easy it is to join MoneyAisle.com's network. After setting a few parameters on MoneyAisle.com's fully automated auction platform, network members enjoy access to the customer that would not have been reached before and at no additional expense.
Consumers are delighted with MoneyAisle.com since they save an average of $918 every year on new auto loans and car refinancing, resulting in thousands of saved dollars over the lifetime of a loan.
Boyd Gustke, COO of Connexus Credit Union, said, "We are pleased to become part of the MoneyAisle.com network of institutions. We want to rapidly grow our auto loan business and MoneyAisle's model allows us to pay only if we book new loans. The acquisition cost is much lower than other advertising as well."
More credit unions are joining the network every day and MoneyAisle expects over 200 financial institutions in the auto loan network by the end of 2010.
Tom Becker, Vice President of Lending for Hanscom Federal Credit Union, explains, "Being in the MoneyAisle.com network is a win-win situation for us. This powerful platform allows us to compete without any front-end expense on equal footing with large institutions with mega advertising budgets. Our customers win because we can offer highly competitive rates, better than most out there."
On MoneyAisle.com, after entering only eight fields such as loan size, car type and credit score estimate and no personal information, consumers can watch banks and credit unions bid for their business. The entire process takes less than a minute and is completely automated, requiring no extra time or man power on the part of the network members.
"MoneyAisle.com is committed to helping consumers win," says Mukesh Chatter, CEO and President of MoneyAisle.com. "At the same time, we are able to offer credit unions and banks an innovative platform that enables them to have pro-active risk monitoring and complete control on their loan acquisitions."
About MoneyAisle
MoneyAisle is the next-generation e-commerce auction marketplace that provides consumers with great rates on auto refinancing, auto loans, CDs and high-yield savings accounts while helping them rapidly attract new customers. MoneyAisle's methodology is simple: banks and credit unions competitively bid for every customer in live auctions. This patent-pending technology creates a safe, transparent platform for consumers to secure great deals on financial services and products. Unlike other "seller centric" online auction marketplaces, MoneyAisle empowers consumers by providing free on-demand live auctions.
About neoSaej, Corp.
neoSaej is a leading developer of online auction marketplaces focused on utilizing the advantages of the Web to empower consumers. MoneyAisle, neoSaej's first marketplace, provides consumers with great rates on auto refinancing, auto loans, CDs and high-yield savings accounts.
###