New embedded financing solution revolutionizes credit union financing, creating 23,833 new members and offering instant funding through FedNow.
FI Connect funds $1 billion in loans its inaugural year.
Irvine, California, April 02, 2025 (GLOBE NEWSWIRE) — Origence, the leading credit union lending technology company in the U.S., announced its subsidiary, FI Connect, funded $1 billion in Tesla purchases in its first year of operations. FI Connect offers credit union financing options to national retailers, providing borrowers with affordable solutions with embedded financing. In its inaugural year, the company enabled embedded financing opportunities for 34 credit unions, processing 24,839 total loans and creating 23,833 new credit union members.
FI Connect initially launched in partnership with Tesla, providing credit union financing to EV buyers directly through the Tesla website, and has plans for expansion to other retailers in 2025. By providing financing at the point of purchase, buyers gain easy access to competitive rates and flexible terms. This collaboration allows credit unions to take advantage of a fast-growing market, offering loans to their existing members while expanding their reach to new members. The retailer benefits from working with a single partner, FI Connect, which manages the purchase and placement of retail contracts with credit unions nationwide, ensuring a seamless, frictionless car-buying experience. FI Connect is currently live in 29 of the 31 states that Tesla sells in and has become one of the preferred financing partners on its platform. Through its partnership with credit unions, FI Connect successfully competes with national banks and finance companies by offering low rates up to 84-month terms, expedited funding, and rate subvention.
In 2024, Origence partnered with Catalyst to deliver real-time payment capabilities through the FedNow® Service. This enables instant loan funding and significantly accelerates transaction speed and efficiency. With faster funding, FI Connect better positions credit unions for embedded financing opportunities where speed of payment is critical. In addition, FI Connect implemented its Customer Identification Program and Know Your Customer solutions, designed to strengthen compliance and reduce false positive risk indicators, enhancing the accuracy of customer identity verification.
In 2025, FI Connect is strategically focused on expanding its network of retail and credit union partnerships. As they continue to fund Tesla purchases, FI Connect is expanding its offerings to new asset classes. Likewise, FI Connect aims to provide more credit unions ample opportunity to tap into the embedded financing market.
