According to the J.D. Power 2013 U.S. Dealer Financing Satisfaction Study, Security Service Federal Credit Union is ranked fifth among prime retail credit lenders in the country.
On a 1,000-point scale, the $7.3 billion credit union in San Antonio scored 917 for its application and approval process, finance offerings and sales representative relationship.
The J.D. Power study was based on responses from 3,962 dealers surveyed between March and April 2013.
Security Service was also recognized for its fast payments, dealer service and growing presence in Colorado and Utah.
Charles Goss, senior vice president and chief lending officer for Security Service, said the credit union has approached its work with dealers as a partnership. As a result, the relationships have helped to drive the way business is done.
The credit union said by using a paperless process, it can approve a loan in as little as 15 to 30 minutes, with funding delivered to the dealership within 24 hours in all of Security Service’s regional markets.
The J.D. Power recognition is the latest milestone for the credit union. Security Service said it recently surpassed $5 billion in indirect auto loans.
Danny Lane, vice president of indirect lending, said the credit union funds one out every four cars in San Antonio and business continues to grow since expanding into Colorado and Utah.