POTTSTOWN, Pa. — Rising vehicle prices, increasing interest rates and the lack of available rebates have inspired Diamond Credit Union and Credit Union Leasing of America (CULA) to provide a new balloon loan program.
“Members' monthly budgets continue to feel the squeeze over rising costs,” said Greg Gandolfo, vice president of business development at CULA. “By partnering with Diamond in a balloon loan program, we give the members options that can really help their monthly budgets.”
By offering the balloon loan program to Diamond's auto dealership network, the credit union is looking to attract the new members to other deposit and credit products. The $262 million CU has 30,000 members.
CULA has provided indirect vehicle leasing and balloon loan services for credit unions across the country for nearly 20 years.
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