CPS Announces New $900 Million Forward Flow Agreement

Core Insights - Consumer Portfolio Services, Inc. (CPS) has initiated a forward flow program with Valley Strong Credit Union, which is expected to significantly enhance CPS's annual origination volumes by up to $900 million [2]. Group 1: Partnership Details - The forward flow program will focus on borrowers with prime credit, allowing CPS to serve a broader range of borrowers across the credit spectrum through its AI-enabled auto finance platform [2]. - This partnership aims to position CPS as a full spectrum lender and strengthen its relationships with dealership partners [2][3]. Group 2: Company Background - CPS is an independent specialty finance company that provides indirect automobile financing, primarily targeting individuals with past credit issues or limited credit histories [4]. - The company purchases retail installment sales contracts from franchised automobile dealerships, primarily secured by late model used vehicles [4]. Group 3: Valley Strong Credit Union Overview - Valley Strong Credit Union operates 31 branches and serves over 360,000 members, with approximately $4 billion in assets [5]. - It has been recognized as the 2 Credit Union in California by Forbes and is one of the largest financial institutions in the Central Valley [5].