By: Margaret McMartin

In February of 2022, Carolina FCU was working with an established indirect lending vendor.  The two largest issues they were having at the time with their existing provider were cost and the lack of opportunity to compete with other tier-one lenders within the system.  They decided to seek an option that would more align with their goals and requirements.

When they embarked on the search for a new indirect lending provider their goals were clear:  Find a cost-effective solution that would not sacrifice quality; and a more dealer-friendly connection that would allow the credit union to compete with the captives and national lenders.  After speaking to credit union colleagues in the area and an in-depth conversation with CUAC at a local trade show, Carolina FCU determined that CUAC would be their best option to fuel their indirect lending program.

CUAC’s customized program has helped Carolina FCU harness the technology it needed to increase its footprint and to compete with lenders at the point-of-sale, while also helping them increase its program reach and effectiveness. “CUAC has delivered on every promise they made.  Marci has been great in helping get the program off the ground.”  Said Donna Beringer, President of Carolina FCU.  She added, “We want the auto buying experience to be convenient and pleasurable for our members. With CUAC, the member can visit the dealership, decide on an auto, and close the loan all in one visit.”

Kurt Howard, COO of CU Alliance, had this to say:  “It has been great working with Donna & Chad with Carolina FCU.  We have enjoyed watching their program grow with their local dealers and are glad to be a part of their success.  CUAC provides the credit union with the technology needed to compete for their members’ auto financing at the dealership.  From Dealertrack and RouteOne access to re-hash and digital contracting, the credit union is now at a level competitive playing field at the point-of-sale.”

Carolina Federal Credit Union has been a trusted financial organization for over 50 years, federally chartered in 1969 to serve Carolina Freight Employees. Now expanded, their field of membership includes EVERYONE who lives, works, goes to school, or worships in Gaston or Cleveland County, eligible employees and retirees of sponsored companies and associations, plus all family members.

If you are interested in taking your credit union or CUSO’s indirect lending program to the next level, please reach out to Kurt Howard at khoward@cuacuso.com or online at cuac.com/contact.