For some credit unions, the recipe for high auto loan volumes is a mix of strong relationships with dealers, fast response times and a dedicated staff.
Those were the findings from a white paper by the Ontario, Calif.-based CU Direct Lending Corp., an indirect and point of purchase provider of vehicle loans, that studied best practices for higher funding rates.
CUDL reviewed the 2011 auto loan applications processed via its CUDL lending platform to identify credit unions that had higher than average look-to-book and approve-to-book rates.
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