X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOX ELDER, S.D. — Shirley Stover’s initial idea was for Sentinel FCU to just buy its own car dealership so it could offer more car choices and better deals to the soldiers at Ellsworth Air Force Base here. But Sentinel FCU, a $48 million-in-assets CU, couldn’t afford that, CEO Nancy Ellwein told Stover, so she started thinking again and came up with the idea of renting a car dealership. Or at least space in one.

Stover, Sentinel FCU’s (www.sentinelfcu.org) senior vice president of lending, wanted something that would counteract the downsides of indirect lending. Sentinel FCU paid dealers $80,000 in indirect fees in 2006, she said, and lost a lot of add-on business. And after spending 10 years of her career in a car dealer’s finance and insurance office she knew every trick of the trade, she told Credit Union Times.

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.