During the first six months of 2013, Enterprise Car Sales said it generated $224 million in loan volume to more than 12,000 credit union members.
That figure marked a nearly 20% increase in used car loan volume with its credit union partners from January to June compared to the same time period in 2012, the St. Louis, Mo.-based company said.
Mark McAndrews, assistant vice president of Enterprise Car Sales, said its credit union partners have done an exceptional job of generating more leads, sales and loan volume. In addition, ongoing credit union programs and activities such as monthly co-op promotional offers exclusively for members have had a positive impact on results.
“These results show the mutual benefits of working side-by-side with credit unions as strategic business partners in local communities nationwide,” McAndrews said.
Looking at the rest of the year, McAndrews said Enterprise Car Sales anticipates that the demand for quality used cars will continue to drive used car loan increases at credit unions.
“We look for a strong second half of the year, and we pride ourselves on sending our credit union partners’ members back to them for financing 100% of the time,” he noted.
As a result of partnering with credit unions over the past 30 years, Enterprise Car Sales said it has helped generate nearly $10 billion in loan volume for more than 1,000 credit unions nationwide.