Credit unions get creative in their efforts woo car shoppers away from their direct competitors, namely dealerships.
$64 million Houston-based credit union launches Members Private Sale 2.0 using third party vendor.
Despite attempts to negotiate at dealerships, Hispanic and black car buyers pay higher rates according to CRL report.
Next phase includes offering replacement group life, disability insurance.
Big banking tech companies recently have been hungrily gobbling up smaller companies and the question is, Will this consolidation continue? The other question, Is this good, or bad, for credit unions?
With a combination of used vehicles reaching their maturity mark for some car drivers and record financials from manufacturers that have emerged from a dismal scene, 2013 may shape up to be a solid year for auto lending growth.
Signs point to solid year for auto lending growth in the year ahead, driven by used vehicles aging out and automaker financials.
Auto lending has traditionally been the backbone of many credit union lending operations. Some lenders have recently benefited from the Cash for Clunkers program and from the rebound in auto sales since the recession.
Core processing systems have been the backbone of the credit union transactional system since the days before share draft accounts became simply known as checking. But with functionality broadening to include credit and debit cards, online fund transfers and now mobile and even person-to-person, is core processing simply a commodity, a...
One of the credit union industry's leading core-processing proponents of open systems has institutionalized "co-opetition" with a program designed to smooth the way between credit unions and third-party vendors.