The $627 million American First Credit Union is suing to recoveragainst at least two members who have defaulted on exotic carloans, according to legal documents filed in Orange County, Calif.Superior Court.
The La Habra-based financial cooperative had an indirect lendingrelationship with the world's busiest Lamborghini dealer and madeexotic loans for cars purchased at at least two other dealers,according to court records.
American First Vice President of Marketing Ryan Zilker deniedthe community chartered credit union targeted wealthy members. “Ifyou look at our average member, they're not Lamborghini owners,” hesaid. “But, individually, the loans were a good opportunity for thecredit union.”
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