Heritage Federal Credit Union was recently ranked first in used vehicle financing for the Southwest Indiana region.
Market analysis provider Cross-Sell Inc. said the $407 million credit union had 16.2% market share in September beating out 19 other banks, credit unions and other financing organizations, according to Heritage FCU in Newburgh, Ind.
The credit union’s used vehicles were financed through 25 local dealerships in Southwest Indiana during September, Cross-Sell’s September 2011 Lienholder Summary report noted.
“This top ranking is a testament to the credit union’s great rates and convenient terms on vehicle financing, and achieving the ranking multiple times reaffirms our consistent lending practices,” said Ruth Jenkins, president/CEO of Heritage FCU.
Cross-Sell said it provides market analysis reports in 27 states, covering approximately 70% of the vehicles sold in the U.S. Each month, it produces nearly 6,000 reports for automotive dealers, media companies and finance institutions, the firm said.