Frank Mercer (LION 1600+)

Current

CEO at CU Auto Lending Services LLC
CEO & President at American Acceptance Group LLC
CEO & President at CU Lending Solutions LLC

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Past

President & Chief Operating Officer at ACC Consumer Finance
EVP, Loan Production Group at Centrix Financial
EVP, Group Director at Household Auto Finance (HSBC)

Senior Vice President at Imperial Corporation of America
Area Supervisor at Mellon Financial

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2 more...

Education

Antelope Valley College

Recommended

7 people have recommended Frank

Connections

500+ connections

Industry

Financial Services

Frank Mercer (LION 1600+)’s Summary

Frank is a "C" level executive at three automobile industry related companies.

Recognized as a special auto finance industry innovator and thought leader, Frank’s ability to propel auto industry related companies to their next level has been a key to his success.

Throughout his career, Frank has been instrumental in building winning companies. Before founding American Acceptance, Frank founded CU Lending Solutions, in 2006. CU Lending Solutions is a highly respected lending strategy solutions company to the credit union industry that assists in developing professionals with the personal dedication, capabilities and ethics needed to succeed in today’s indirect auto lending environment.

Frank has been involved in three special finance company start-ups. His first start-up was with American Credit Corporation in 1993. Frank held the position of SVP, Chief Credit Officer. ACC went public in 1995 and was sold in October 1997 to Household International. Franks second start-up was founded in 2004 where he was the founding President and COO of ACC Consumer Finance LLC, a leading provider of consumer lo an installment contacts and servicing for the credit union industry. ACC was acquired in February 2007 by CompuCredit Corporation. His current start-up is American Acceptance Group LLC that has raised $1 million in seed capital and is searching for a credit line to purchase dealer contracts.

From 1993 to 2003, Frank served as Group Director of National Sales and was the Chief Credit Officer for Household (HSBC) Auto Finance with $14.5 Billion in assets, and was responsible for generating over $450 Million per month in auto dealer installment contracts. He directed branch network operations, designed and implemented innovative sales programs and was responsible for overseeing the activities of 635 employees.

Frank Mercer (LION 1600+)’s Specialties:

Multiple disciplines in auto finance lending including:

executive management
sales and marketing
credit and funding operations
risk management
contract negotiations
strategic alliances

Frank Mercer (LION 1600+)’s Experience

CEO

CU Auto Lending Services LLC

(Automotive industry)

August 2008 — Present (1 year 5 months)

The CUALS management team with over 100 years auto lending experience has designed a turn key Alternative Dealer Financing program where the Dealer rewards of using our program are very transparent. Rewards include a tremendous return on investment opportunity. Many dealers return 40 percent or more annually on their initial investment. There are very few business opportunities with higher consistent returns.

The CUALS program provides for the Dealer to not only be the seller of the the vehicle, but also the financing source for the vehicle sold. The big difference with the CUALS program is that a Dealer has CUALS perform all customer service and all collections functions so the dealer does what they do best which is sell cars.
CEO & President

American Acceptance Group LLC

(Privately Held; 1-10 employees; Financial Services industry)

November 2007 — Present (2 years 2 months)

American Acceptance Group (AAG) is in its start-up phase. AAG is an independent purchaser, servicer and seller of automobile installment sales contracts. AAG purchases contracts which are originated by franchised and independent automobile dealerships that AAG has an established business relationship.

The contracts purchased by AAG represent extensions of credit to borrowers who would generally not qualify for prime financing. These borrowers typically have lower incomes, limited credit histories or past credit problems which preclude their financing of automobile purchases through "primary" financing sources (Captives, Banks and Credit Unions). The AAG program is built on the premise that, by properly structuring the financing transaction and by performing a thorough credit evaluation of each borrower application, many of these potential borrowers can be profitably financed by AAG. This is accomplished by making good credit decisions.

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CEO & President

CU Lending Solutions LLC

(Privately Held; 1-10 employees; Financial Services industry)

November 2006 — Present (3 years 2 months)

CU Lending Solutions LLC (CULS) was formed in November 2006 as a lending strategy and operations firm. The LLC maintains its corporate office in Tampa, Florida. We have signed a marketing agreement with FCUL Service Group, a wholly owned subsidiary of the Florida Credit Union League.

Our specialty is indirect auto lending. We are in the business of implementing or enhancing a credit unions' indirect auto lending program.

With credit unions currently involved with indirect auto lending, we offer a three step process for enhancing the credit unions loan programs as follows:

Assessment of current processes
Implementation of enhanced processes
Risk Management monitoring of portfolio

With credit unions not involved with indirect auto lending, we offer a process that implements an indirect lending program for the credit union. The program is designed to satisfy the risk tolerence approved by the management team.
President & Chief Operating Officer

ACC Consumer Finance

(Privately Held; 51-200 employees; Financial Services industry)

April 2004 — April 2007 (3 years 1 month)

I was the founding President and Chief Operating Officer of ACC Consumer Finance LLC, a leading provider of consumer loan installment contacts and servicing for the credit union industry. I was responsible for developing and implementing the infrastructure for this profitable start-up consumer finance company. I directed operations, facilitated new product development, developed strategic alliance relationships and maintained the organization's risk management and quality service standards. ACC was acquired in February 2007 by CompuCredit Corporation a marketer of branded credit cards and related financial services.
EVP, Loan Production Group

Centrix Financial

(Privately Held; 1001-5000 employees; Financial Services industry)

April 2003 — January 2004 (10 months)

After spending just a short time at Centrix, I left to start a special finance company.
EVP, Group Director

Household Auto Finance (HSBC)

(Financial Services industry)

June 1993 — March 2003 (9 years 10 months)

I was the first employee hired by a start up finance company named American Credit Corp where I was their Chief Credit Officer. We took the company public in 1995 and then sold the company to Household International in 1997 when our name was changed to Household Auto Finance. While with Houseld I held the following positions:

EVP, Group Director of National Sales
EVP, Group Director of Credit and Funding
EVP, Chief Credit Officer

Household was sold to HSBC in late 2002 and I left after there were numerous management changes.
Senior Vice President

Imperial Corporation of America

(Financial Services industry)

1987 — 1992 (5 years )
Area Supervisor

Mellon Financial

(Public Company; 10,001 or more employees; MEL; Financial Services industry)

December 1968 — November 1979 (11 years )

I started my consumer finance career here as a management trainee at Local Loan Company who was acquired by Mellon Bank in 1977. After I completed their management training program, I was promoted to manage the Inglewood California office for 2 years before being promoted to an Area Supervisor position in 1978. I then Supervised the activities of 9 managers and 45 employees in the San Diego area consumer finance lending offices. Our major loan product was equity 2nd mortgages.

Frank Mercer (LION 1600+)’s Education

Antelope Valley College

1970 — 1974

Additional Information

Frank Mercer (LION 1600+)’s Interests:

INTERESTED IN PURCHASING LARGE SPORTS CARD COLLECTIONS OR CARD SHOP INVENTORIES IF YOU DECIDED TO CALL IT QUITS.

Frank Mercer (LION 1600+)’s Groups:

Linking Venture Capital, Executive Suite, On Startups, Speaker Match, Linked 2 Leadership, Ten Top Executives, Capital Markets and Financial Networks, Club CEO, Entrepreneur Network., Linking Sales Pros, Linking Executives, Group Linked