WAUSAU, Wis. (10/3/13)--Connexus CU, Wausau, Wis., has acquired Mukwonago, Wis.-based, Financial Institution Lending Options (FILO), a company that provides financial institutions with auto loans through pool sales, participation pools or whole loan flow sales.
"We plan to leverage the combined talents of FILO and Connexus to expand the FILO program to more credit unions in other states," said J. David Christenson, Connexus CU president/CEO.
In its 12-year history, FILO has made more than $1 billion of auto loans, financed from its 400-plus dealer network.
Connexus provides FILO a terrific opportunity to further increase and build on our growth in the auto finance market," said Jerry Briggs, FILO president/CEO. "This transaction strengthens our company, which positions us to further benefit our clients."