CU Trak Platform Designed to Enable Credit Unions to Finance More Members, Improve Loan Performance for Credit Union Members within the State of Michigan
MURRIETA, CA / ACCESSWIRE / June 10, 2020 / IGEN Networks Corporation (OTCQB:IGEN)(CSE:IGN), a leading innovator of Internet of Things (IoT) automotive and commercial fleet solutions, today announced the signing of a Sales and Marketing Agreement with Michigan Credit Union League Service Corporation(MCULSC) for the distribution and marketing of CU Trak, a white-labeled version of IGEN's mobile asset tracking and security solution.
Michigan Credit Union League Service Corporation (MCULSC) is a credit union service organization offering leading edge products and services to help Michigan's credit unions serve, grow and remain strong.
MCULSC's dedication to the credit union mission is reflected through service excellence to credit union clients and credit union system partners. The sales and Marketing Agreement enables a collaborative sales approach between MCULSC and IGEN in providing state-of-the-art technologies and solutions that enable Michigan's credit unions to finance more members and improve loan performance.
"MCULSC's partnership with IGEN gives us an exciting opportunity to continue providing the relevant products and services Michigan credit unions need to be successful," said MCUL & Affiliates CEO Dave Adams. "It makes perfect sense for us and our team is excited for the road ahead."
"Our partnership with MCULSC will establish a framework for IGEN to better understand how to serve credit unions and bring value to their businesses and members in Michigan State and across the country," said IGEN's CEO Neil G. Chan.
Abel Sierra, VP Business Development said, "More and more credit unions around the country are offering "Fresh Start" programs directed toward members with credit challenges who need to obtain a vehicle loan at fair and reasonable interest rates, CU Trak provides a valuable win-win situation for the lender and the consumer. By deploying CU Trak as part of the underwriting process, Michigan credit unions may be able to finance more of their members with low credit scores while offering lower down payments and improved overall loan performance. This allows more credit union members to get the vehicle loans they need for work and mobility while enjoying the benefits of user-friendly mobile apps to monitor their vehicle, such as real-time speed alerts, location reports, stolen-vehicle protection and driver behavior data, as part of the ongoing services package."
About Michigan Credit Union League Service Corporation
Headquartered in Livonia, Michigan, MCULSC, a wholly owned subsidiary of the Michigan Credit Union League, delivers dynamic solutions that serve and support Michigan credit unions and their members.
About IGEN Networks Corporation
IGEN Networks Corporation provides peace-of-mind to automotive consumers and their families through direct access to Internet-of-Things (IoT) cloud-based services that include Stolen Vehicle Protection, Real-time alerts, and Driver Behavior.
IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit., www.igennetworks.net
This news release may contain forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases "goal", "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", "intend", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN's expectations regarding its business, customer base, strategy and prospects, and IGEN's confidence in the cash flow generation of its business. Many factors could cause IGEN's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN's reliance on key personnel; IGEN's ability to maintain and enhance its brand; and difficulties in forecasting IGEN's financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading "Risk Factors" in IGEN's periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on IGEN's forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
IGEN Networks Corporation
Neil G Chan
SOURCE: IGEN Networks Corporation
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