When did your credit union launch its indirect auto lending program? Many large institutions began theirs in the 1990s. They weren’t without challenges. The sector experienced only moderate growth until 2012, when a major shift occurred. Major bank lenders, after suffering losses exaggerated by the impacts of the Great Recession,…
Seems like a strange question, right? It’s a thing you do. It’s a thing lots of financial institutions do. Millions of auto loans go through indirect channels each year. So what’s the issue? We’re not sure the concept fits your community-focused mission. At its simplest, you’re just another lender on…
In previous articles, we discussed the 5 Steps to Protecting Members Using Your VSC program and also with GAP & Depreciation Coverage. Then we looked at how Payment Protection specifically is a tool for Financial Empowerment. Here, we will cover the 5 steps you can take to help borrowers by…
