Space Coast CU Recognizes ‘Watchdog’ Auto Dealers
For keeping the best interests of their members in mind, Space Coast Credit Union recently honored four Florida-based auto dealers for their efforts.
The $3 billion credit union in Melbourne, Fla., said it awarded its 2012 Watchdog Dealer of the Year award to Rosner Chevrolet for Brevard and Indian River Counties; Braman Honda for Miami-Dade County; AutoNation Chevrolet of Pembroke Pines for Palm Beach and Broward Counties; and Deland Kia for Volusia and Flagler Counties.
For 2012, SCCU members recognized the following dealers:
- Rosner Chevrolet earned 4.78 stars out of a possible five stars; facilitated more than $12 million in auto loan production with SCCU;
- Braman Honda earned a five-star rating and facilitated more than $5 million in auto loan production;
- AutoNation Chevrolet of Pembroke Pines earned 4.60 stars and facilitated more than $2 million in auto loan production;
- Deland Kia earned 4.60 stars and facilitated more than $12 million in auto loan production.
Rosner Chevrolet, AutoNation Chevrolet of Pembroke Pines and Deland Kia all received the award for the second consecutive year, SCCU said.
In 2012 SCCU members shared 584 auto dealer reviews, according to the credit union. To date, there are nearly 3,000 dealer reviews displayed on SCCU’s website and they have been viewed over 755,000 times.
"Watchdog Dealers of the Year represent the best of the best, and Space Coast Credit Union appreciates the consistent treatment our members receive from these exceptional dealers,” said Jodie Kinley-Smith, indirect lending manager for SCCU.
An auto dealer who consistently earns 4.5 stars or better is assigned the Watchdog status, the credit union said, adding it pays Watchdog rated dealers a higher commission for completed auto loan referrals. As of June 2013, SCCU had 225 Watchdog rated auto dealers.
Space Coast Credit Union said it is one of the few indirect auto lenders that has never participated in rate markups. Sometimes referred to as a buy-up, it occurs when a car buyer arranges for financing at the dealership through a bank or other financial institution, and the rate he or she qualifies for based on creditworthiness is marked up several percentage points by the lender.
“Space Coast Credit Union's indirect lending policy does not allow buy-ups, and yet dealers continue to refer business to SCCU because they value the relationships SCCU can bring,” the credit union said.