Originally recorded on March 11, 2014, 1 hour
Vehicle lending is the lifeblood of credit unions, but this is not your father’s auto lending environment. Six years after the onset of the Great Recession, the average age of cars is a record 11.4 years. With the pent-up demand for newer vehicles, today’s auto lending landscape is a highly competitive business. In a time when even borrowers with good credit pose risks, accurate collateral values are more important than ever.
Learn about automobile market and rate data that will help you understand the vehicle market, assess risk, and increase loan volume:
Black Book Lender Solutions: For 14 years, CUNA has aligned with Black Book to provide credit unions with timely, independent, and accurate vehicle pricing information. Credit union users can have online access to consumer portals, custom analysis, and portfolio refreshes to help with member education and retention strategies, loss forecasting, collateral risk, and loan origination. Contact Jan Garkey, Manager, Member Education at CUNA, 800-356-9655, ext. 4092.
Informa Research Services: A CUNA Strategic Services alliance provider, Informa is the premier provider of competitive product rate and fee intelligence, member satisfaction studies, and mystery shopping services to the financial services industry. Contact Brenda Halverson, CUNA Strategic Services alliance manager at 800-356-9655, ext. 4340.
Note that the first 60 seconds of the recording has some sound issues, and then the webinar runs smoothly.