Allfirst, IFS Join Forces to Offer Products Through Independent Agents

December 9, 2002

In an effort to reach more customers, Allfirst has joined forces with Independent Financial Services (IFS) to offer a variety of loan products through independent insurance agents. This new program will provide insurance agents another way to attract, retain and expand their client relationships.

The “Independent Advantage” program will enable independent insurance agents to offer a wide range of consumer loans at competitive rates to their customers. Automobile loans, motorcycle loans, boat loans, recreational vehicle loans and unsecured personal loans will be available.

The application process is simple and convenient for customers, who can apply over the phone or through their agent. Loan requests are sent to Allfirst (www.allfirst.com) for processing and once approved, customers can sign the papers and pick up their checks at their agent’s office.

“This is a win/win/win for the independent insurance agent, their clients and Allfirst,” Bob Tahler, Allfirst senior vice president, commented. “The independent agent has an opportunity to offer a wider range of products to their constituency, agency clients have convenient access to another source of loans and Allfirst has an opportunity to form an enduring relationship with more customers.”
Matthew Herriott, vice president of IFS, added, “This new relationship further strengthens our commitment to the independent insurance agency system. We want to give the insurance agents’ consumer and commercial clients access to competitive loan products, while doing business with someone they know and trust – their independent insurance agent.”

The “Independent Advantage” is based on Web technology developed by IFS (www.ifs-usa.com) and requires only Internet access from agents.

Agents participating in the program need to obtain proper licensing from the relevant regulatory authorities.

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