Fintech Lender LoanHero and Quorum FCU Announce Strategic Partnership

San Diego, California, March 6, 2017 (Newswire.com) - ​​LoanHero, a leading retail finance technology and loan origination platform powering automated lending to consumers at the point of need, announced a strategic partnership with Quorum Federal Credit Union (Quorum), a full-service financial institution serving over 70,000 members across all 50 states. The partnership supports Quorum’s strategy to expand its lending footprint in the healthcare space, providing creditworthy consumers with excellent options where and when they need it most.

As part of the partnership, Quorum and LoanHero will start offering healthcare providers and their patients—through LoanHero’s technology and support—a substantial number of options that have not been available in a single platform. LoanHero’s automated loan prequalification application and approval process are both quick and easy for customers, and intuitive for service providers. Consumers get a loan for a significant medical procedure within seconds.

"LoanHero's technology, capabilities, and expertise allow us to introduce consumers to our excellent financial products and service, while helping us reach our growth potential."

Bruno Sementilli, President and Chief Executive Officer of Quorum

“For over 80 years, we have shown an unwavering commitment to our members. This partnership further demonstrates our dedication to creating a great member experience, and making a positive difference in people’s lives,” said Bruno Sementilli, President and Chief Executive Officer of Quorum. “LoanHero’s technology, capabilities, and expertise allow us to introduce consumers to our excellent financial products and service, while helping us reach our growth potential.”

“Credit unions have long embraced lending technology, and innovators like Quorum understand indirect lending in retail finance as the next major opportunity,” according to Zalman Vitenson, Chief Executive Officer of LoanHero. “Financial institutions realize they can provide a superior experience by partnering with fintech platforms like LoanHero, that have invested in compliance and data capabilities. We are proud to partner with Quorum to serve the many needs of today’s healthcare consumer.”

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 About LoanHero

LoanHero provides financing for the important things in life. Whether it’s a medical procedure not covered by insurance or a new roof, we’re there to cover expenses over $1,000. Our innovative financing platform empowers merchants to extend instant financing at the point of sale. With multiple lenders in a simple application, consumers receive the best loan product regardless of their credit. LoanHero is headquartered at 750 B Street, Suite 1410, San Diego, CA 92101.

About Quorum

Quorum Federal Credit Union (www.quorumfcu.org) is headquartered at 2500 Westchester Avenue, Suite 411, Purchase, NY 10577. Founded in 1934 as the exclusive credit union for Kraft Foods employees, today the Credit Union serves over 50 companies nationwide (Ogilvy, Avon, Mondelēz International, Philip Morris, etc.) and has over 70,000 members living in all 50 states. Quorum serves its members with both in-person and remote banking channels—including branches, a call center, and online and mobile banking—so banking is possible anywhere, any time.

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Source: LoanHero, Quorum FCU