1st United Credit Union
Our goal was to increase auto loans by encouraging members to refinance cars from other lenders
to us. Using credit bureau data, we identified and targeted our members with auto loans
elsewhere.
Our members typically have excellent credit, which is why we often lose their auto loan financing
to other lenders at the dealership. After the loan is booked, however, we can often tempt them to
come back to us early in the term while the loan is still profitable. And, since we don't have to pay
our 2% dealer commission (yes, you read that correctly, we pay a 2% dealer commission), the
loans are often more profitable than had we booked them at the dealership.
Love Your Car
Category
Market Segment Program > Market Segment Program - $501 to $999 Million
Winner Status
- Silver