LAUREL, Md. – Credit Union Auto Loan Network, an indirect lending program for credit unions in the Maryland/ Washington, D.C. area, sent $151,016 in rebate checks to its 29 members in 2002. Participating credit unions pay the Network a $40-$60 handling fee for an application to join. Dealers pay the Network a monthly fee to participate. Charles Thomas, president/CEO of Mid-Atlantic FCU and Chairman of the Network said the rebate resulted from a board vote “to give back what we didn’t need to run the program.” The Network generated $97 million in loans on more than 5,500 cars in 2002. “We’ve had another tremendous year, despite a challenging marketplace,” said CEO Terry Thomas.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.