OLYMPIA, Wash., Jan. 4, 2005 (PRIMEZONE) -- ET Financial Services today announced its selection by Timberland Bank, a subsidiary of Timberland Bancorp, Inc. (Nasdaq:TSBK), to provide the bank with market-leading consumer loan origination and servicing capabilities.
"ET's fit with Timberland Bank is strong," said Darcy Huffman, ET's Vice President -- Client Development. "They care about their customers and they recognize the benefits of constantly improving customer service and pricing. With this decision Timberland Bank is an even more attractive place for consumers to shop for their financial needs."
Timberland Bank joins a rapidly growing list of banks across that nation using ET's OSCAR system to deliver nearly instantaneous loan approvals, often offer substantially more attractive pricing and a strong emphasis on service to their customers.
"Consumer lending is an enormous profit opportunity among those community banks willing to use 21st century technology to originate and service loans," added R. W. Christensen, Jr., ET's CEO. "As leading bankers begin to appreciate the profits and as their best customers experience the benefits of returning to community banks for loans, the entire industry benefits. With ET, bankers can offer the attractive pricing and service their customers deserve, while the bank profits. As more and more customers ask their bankers for consumer loans, an increasing number of bankers are profitably answering 'Yes' instead of just referring the business to the competition. Every instance where consumer prices decline while bank profits increase is a real win for the industry as well as for the bank and its customer."
About Enhanced Technology Financial Services, Inc.
ET Originates, Services, Collects and Reports on private label consumer loans for community and mid-sized banks using its proprietary OSCAR system and team. By combining ET's risk-related pricing and best-in-industry servicing, ET's client banks generate higher margins and more volume with lower risk and less volatility, simultaneously. ET typically guarantees that its bank client will increase earnings by at least 20% by using its OSCAR system to originate and service consumer loans. Headquartered in Olympia, Washington, ET was recently endorsed by the Washington Independent Community Bankers Association. ET operates nationally and markets its services to banks with assets up to $20 billion.