The $799 million Unitus Community Credit Union has linked up with Smartway Advisors to help high-risk members get deals on auto loans and interest rates.
Smartway's programs, Trust Funding and Credit Builder, are aimed at getting responsible people into reliable automobiles at a reasonable interest rate, without undue pressure, and backed by a sought-after lender, the company said. Trust Funding reviews a person's past and while not ignoring the recent mistakes, they look beyond and trust in the future financial well-being of the customer. The Credit Builder program is aimed at those who are just starting out in life or just getting back into the job market, including people with little or no credit history.
It may well be a sign of the times, with bankruptcies, credit dings, late payments and partial payments, according to Smartway. For those who are starting to get back on their feet, their credit report may have taken a serious turn for the worse.
"For people in this type of situation, getting a car and loan is very difficult, and people are frequently taken advantage of," said Dave Daniels, general manager for Smartway.
"At Unitus, we are committed to helping our members avoid these issues and start putting their life, and their credit, back together" said Paul Kirkbride, vice president of credit services at the CU in Portland, Ore.