AUSTIN, Texas -- Teres Solutions, Inc., a software provider to financial lending institutions, announced that Redstone Federal Credit Union went live in March with the SAIL(TM) (Software Application for Integrated Lending) solution to power its indirect lending program.

Redstone, headquartered in Huntsville, Alabama, serves more than a quarter of a million members with locations throughout northern Alabama and southern Tennessee. With more than $1.8 billion in assets, Redstone Federal Credit Union is the largest credit union in Alabama and one of the top 50 in the nation. The software is helping to automate Redstone's manual indirect loan processes and to provide greater visibility into how the credit union's overall lending program is managed.

"SAIL Indirect is allowing us to dramatically improve our indirect lending program," said Dick Gray, Associate Vice President of Lending Support for Redstone Federal Credit Union. "The software is designed with specific features that give us the flexibility needed to meet the unique, individual needs of our members. SAIL Indirect's interface with the DealerTrack(TM) platform is also an important capability that is enabling us to receive and automatically process retail installment contracts electronically from auto dealers."

With SAIL Indirect, Redstone is able to receive and process loan applications electronically. This includes the ability to set up risk-based rates as well as rules-based approval and denial criteria. In addition, the software allows custom response letters to be delivered automatically to dealers and consumers directly. It also generates production and profitability reports for each dealer participant.

About the SAIL Solution

Teres Solutions' software is used by some of the nation's most successful credit unions to automate the lending process. The SAIL products significantly reduce the time it takes to review loan applications, request and review credit reports, enter data into core systems, make lending decisions and quickly respond to dealers and members. With SAIL, not only is the lending process more efficient, but existing staff can be more productive by focusing on improving yields through new member acquisition or sales of add-on services.

About Teres Solutions, Inc.

Teres Solutions, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.

SAIL is a trademark of Teres Solutions, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.