Tag Archive | "US Equity Advantage"

USEA Surpasses $1.3 Billion in Secure and Compliant Loan Payment Transmissions


ORLANDO, Fla. – US Equity Advantage® (USEA) has passed a significant milestone, transmitting more than $1.3 billion in loan payments for its members, according to the company’s latest operating data. USEA is an industry leader in providing safe and secure early loan payoff services from home and automotive to RV, boat and student loans. The company is fully compliant with the stringent money transmitter requirements related to licensing and bonding in all 50 states via direct licensing and contractual relationships.

US Equity Advantage uses a Tier IV data center with a three-factor security access requirement to house customer data. Authentication methods that depend on more than one factor are more difficult to compromise than single-factor methods, according to guidance from the Federal Financial Institutions Examination Council.

“We consider the safety of our members’ money our top priority,” said CEO Robert M. Steenbergh. “USEA uses a full range of Internet security measures, including routers and firewalls, cryptography, and business processes to safeguard their money and personal information.”

US Equity Advantage® meets all requirements as set forth in the Electronic Funds Transfer Act (EFTA) which was enacted by the Board of the Federal Reserve as a way to protect consumers in all electronic fund transfer matters. All customer information is handled in accordance with the Gramm-Leach-Bliley Act (GLBA) which enforces the protection of all customer nonpublic personal information and the Federal Trade Commission’s (FTC) requirements for safeguarding customer privacy. In addition, the company is federally registered with the Financial Crimes Enforcement Network (FinCEN) and complies with all Bank Secrecy Act (BSA) and Anti Money Laundering (AML) requirements as set forth in the PATRIOT Act.

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US Equity Advantage Adds Regional Account Manager


Orlando, Fla. — US Equity Advantage, a provider of biweekly and early loan payoff services to the automotive industry, hired F&I veteran Karena Raino-Nevratakis as regional account manager for the Western United States. Her primary responsibility will be to provide training and sales support to dealerships in Washington, Oregon, California, Nevada, Arizona, Utah, Idaho, Montana, Wyoming, Hawaii and Alaska. She will report directly to USEA CMO William Lathrop.

“We are very excited to add such an accomplished F&I expert as Karena to our team,” Lathrop said. “Her hands-on, in-dealership experience along with the results she has personally produced using our service makes her a perfect fit to provide training and sales support in the Western U.S. market.”

Raino-Nevratakis began working in the automotive industry 20 years ago at a dealership in western Washington. Her career advanced to working in the F&I department in 1996 and she was later promoted to finance director in 1998, a position she successfully held for fifteen years.

According to Raino-Nevratakis, a focus on leadership, F&I training and product knowledge, and the utilization of the ADP Menu and USEA’s biweekly service are contributing factors to her successful career.

“I believe in AutoPayPlus and the benefits it provides to both the dealership and customers buying vehicles,” Raino-Nevratakis said. “USEA provides excellent customer service and support for dealerships and consumers.”

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US Equity Advantage


When you need stability and assurance, you need to work with the biggest and best in the Bi-weekly loan service industry.

2014 will be your most profitable year yet with AutoPayPlus from US Equity Advantage.

When it comes to the business of Bi-weekly and Early Loan Payoff services, nobody does it like USEA. With over 100 years of combined automotive industry experience, we know what works and what doesn’t.

That’s why we’re BIG on compliance, integrity, and reliability. With easy set-up, solid in-dealership training, and innovative tracking tools — you’ll see BIG results.

Request Information

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US Equity Advantage and Ristken Enter Agreement


Orlando – US Equity Advantage (USEA) entered a long-term agreement with Ristken Software Services to provide bi-weekly loan services through Ristken’s Menu-Pro platform. Ristken’s clients include some of the largest companies in the automotive and insurance industry including Zurich, Ford and Ally, as well as hundreds of general agents across thousands of dealerships.

Dealers using Ristken’s Menu-Pro will be able to quote bi-weekly payments in their menu presentation to customers and enroll them through a paperless process that is fully integrated with the DMS. By utilizing AutoPayPlus, dealers help their customers afford more F&I services and products without extending the term or increasing the monthly payment.

“We pride ourselves with working with some of the largest companies in automotive. US Equity Advantage is the premier bi-weekly service in the industry and they have an excellent track record of service and compliance,” Patrick DeMarco, president, Ristken Software Services.

“We have known the team at Ristken for many years and watched them become one of the predominant menu systems on the market today,” added Robert Steenbergh, CEO and president, US Equity Advantage. “Our companies share a focus on technology innovation and growth and we look forward to a successful partnership.”

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Vaden Automotive Group Customers See $3,000 Improved Equity Using AutoPayPlus Biweekly Loan Payments


Orlando, Fla. – Vaden Automotive Group reports that their customers average $3,000 improved equity position when using US Equity Advantage’s (USEA) – a provider of biweekly and custom consumer loan acceleration services to the automotive industry – rapid loan payoff solution AutoPayPlus. Vaden’s entire AutoPayPlus customer base will be in a better equity position of $13.5 million over the next two and a half years.

Vaden was founded in 1968 as a single Chevrolet dealership on an old dairy farm in Savannah, Ga. Today, the Vaden family operates 10 dealerships throughout Savannah and Brunswick, Ga., as well as Beaufort, S.C. Vaden began using AutoPayPlus approximately two years ago with the goal of improving per vehicle revenue (PVR), but also with a goal to help their customers improve their equity and their financial viability to purchase vehicles from them in the future.

According to Michael Barrett, finance director, Vaden Automotive Group, the program’s true benefit is that “AutoPayPlus places our customers in an average $3,000 better equity position.” He added, “We are already enrolling in excess of 150 customers per month, producing an average of $3,000 additional equity per contract. Multiply that by 12 months and that figure is $5.4 million. Extrapolate out for two and a half years and it equals $13.5 million in improved equity for our customers!”

Vaden’s customer retention has improved in response to its strategy to help customers build equity faster for an earlier trade-in opportunity. The auto group has also augmented its PVR by 37.5 percent; with a product sales increase from 0.8 to 1.1 per vehicle.

“One of the biggest problems with car buyers today is they lack an adequate down payment. AutoPayPlus helps alleviate the problem because the payment strategy enables the customer to build a better equity position. With AutoPayPlus, not only will the customer reduce the payoff term of the loan, but also the amount of interest paid, and build equity in their vehicle faster,” Barrett explained. “With more equity earlier in the life of the loan, they will be in a better position to trade-in. Additionally, we enable the buyer to afford a maintenance plan, save a substantial amount in interest and have a built-in down payment for their next vehicle with no out of pocket costs, and for little, if any, increase in car payment. It’s an easy sell – an absolute no brainer.”

According to Barrett, Vaden Automotive Group is well known for its above average F&I performance and the group’s PVR is on target to put an additional $1.1 million on the books this year.

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Rick Christopher Joins US Equity Advantage as Regional Account Manager for the Southeast


Orlando, Fla. – US Equity Advantage (USEA), a provider of biweekly and custom loan payment services to the automotive industry, hired veteran automotive retail expert Rick Christopher as regional account manager for the Southeast. Christopher’s primary responsibility will be to develop and grow USEA’s business with new and existing automotive dealership accounts and automotive agencies in the Southeast. He will report directly to chief marketing officer, William Lathrop.

Christopher brings to USEA more than twenty years of retail automotive experience. He has a true understanding of automotive dealerships having worked as a finance manager for 13 years, as a sales manager for three years and ultimately as a dealer owner for six years. Christopher also has a deep understanding of the agency side of the business as he spent over a decade providing F&I products to dealerships, specializing in training and development through menu presentation and objection handling, along with compliance. As an agent, he partnered with major dealer groups in Northeast Ohio and Northwest Pennsylvania, where he helped to improve their per vehicle retail average (PVR) and product index by as much as 100 percent.

“Rick is an accomplished professional with a strong background and has significant experience in automotive retail and finance,” said Lathrop. “His commitment and passion for the business fuels his desire to help our partners reach their full potential. Our partners and dealerships in the Southeast will benefit greatly from his experience and I look forward to the resulting future expansion.”

Commenting on his new position Christopher stated, “I am excited to join this dynamic company. Biweekly and custom loan payment services are growing fast in the automotive industry and it is an area with huge opportunity for our company, partners, and auto dealer clients. I also am thrilled to be in a position where I can put my skill set to the best use to help drive new revenues by training, challenging and motivating dealership finance managers.”

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