May 27, 2021: BRECO Federal Credit Union has joined the Credit Union Acceptance Company, LLC (CUAC) program in Louisiana. BRECO FCU joins 10 other credit unions in Louisiana and will help make the program even stronger. “We’re thrilled to partner with CUAC in this new venture. We sought a way to add value for our[…]
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.
A number of factors are involved in putting together a successful auto loan. At Credit Union Acceptance Company (CUAC), we specialize in providing support for indirect auto lending arrangements for the credit unions we serve. Understanding the elements of the auto loans you offer can help you provide the most practical assistance to your members in the competitive lending environment. Borrowers should consider a few important points when taking on a new auto loan.
When credit unions think of indirect lending, the first thing that comes to mind is risk. Risk is inherent with any type of lending; however, with indirect auto lending, risk can be exacerbated by elements created by the dealer and the inability for the credit union to personally interact with the member.
Indirect auto lending arrangements are on the rise. Credit unions and lending institutions can maximize their profits and diversify their investment portfolios by making sure they get their share of this expanding sector of the economy.
Indirect auto lending arrangements can provide added help for your credit union in acquiring new customers and ensuring that you get your fair share of this valuable sector of the consumer loan marketplace.
Most credit unions are apprehensive to dive into the indirect lending world and for good reason; starting an indirect auto lending program can be overwhelming.
Expanding the financial options available to your members through credit union indirect auto lending services can boost customer satisfaction and can ensure that your financial institution gets its fair share of the lucrative auto loan marketplace. Managing your indirect lending programs in a proactive way can help you to deliver the right options for your members. Here[…]
Indirect lending solutions are becoming increasingly popular in the financial marketplace. By implementing indirect auto lending software, banks and credit unions can expand their loan portfolios in a practical and effective way.
In today’s lending world, indirect automobile lending is a crucial part of a Credit Union’s lending strategy, especially with the continued decaying of member loyalty and increased competition at the dealership level and an abundance of lenders in the marketplace.