Kevin Gardner, President, has announced that the Alabama Lenders Association has officially been renamed the Alabama Installment Lenders Association.
The Alabama Installment Lenders Association, the oldest and most respected Alabama trade association devoted to the consumer finance industry, was originally founded in 1960.
“The name change reflects the importance that we attach to being traditional installment lenders,” Gardner said. “We want to clearly differentiate our loan products – which are fully amortizing, payable in equal installments and without prepayment penalty and balloon payment – from the more troubling loan products on the market today, such as payday and title pledge loans. This ‘rebranding’ should help us explain to customers and regulators exactly who we are and what we do.”
The website of the Association remains www.alabamalenders.net.