The right point-of-sale and indirect lending solutions assists your credit union to attract more members for your organization. Surveys show that significant growth is achieved by expanding into the indirect auto lending marketplace. You should consider offering indirect loans through selected auto dealerships in your area.
Building Your Visibility
Credit union indirect auto lending arrangements allows your organization to build its brand among potential members. This allows you to achieve a higher profile and increase public interest in your credit union. By creating partnerships with key dealerships, you ensure that your credit union name is recognized by consumers.
Enhancing Your Marketing Strategies
Marketing the loans and other services offered by your credit union is sometimes challenging. Indirect loans through auto dealership partners provide you with an added marketing avenue for your credit union. This expands your reach by allowing you to make loans even when your credit union is closed for the evening or for the weekend.
Increasing Your Loan Portfolio
Indirect lending arrangements allows you to expand the amount of loans offered by your credit union. This significantly improves the revenue you achieve on behalf of your members. By offering consumers the opportunity to work with your credit union in a convenient and practical way at the point of sale, you significantly increase your portfolio of loans. This also promotes your products for increased financial returns for your membership.
Staying Liquid
One consideration to keep in mind when expanding into the indirect auto lending marketplace is the liquidity of your credit union. The financial resources available for lending depend on the deposits made by your members. Keeping a close eye on the funds available for these lending arrangements is essential to promote a healthy financial situation and practical options for your credit union now and in the future.
At CUAC, we offer indirect lending solutions tailored to the needs of your credit union. We help you set up the right arrangements with dealerships to promote the high returns on your lending arrangements. If you are interested in discussing these services with us, call CUAC today at 866-970-2822. Our team of advisors and consultants will be happy to work with you to set up the right indirect auto lending options for your needs.
