Credit union takes strategic steps to optimize auto loan performance

first_img 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr While 2016 auto sales through May were up and down, the National Automobile Association continues to believe that sales this year are on pace to reach its 2016 forecast of 17.7 million vehicles.Whether auto sales reaching experts’ projections become reality or fall short, it’s important for credit unions to maximize any and all opportunities. Especially if sales are soft.We recently talked to a lending expert with ties to CO-OP Member Center about his credit union’s lending program. David Kelsay, SVP of Lending at Sierra Central Credit Union in Yuba City, California, with assets of $827 million, says Sierra Central CU has implemented a very successful auto lending strategy by seeking new lending opportunities and not taking anything for granted.Even if auto sales nationally do not reach this year’s projections, he feels confident that with its active marketing and cross-selling programs, coupled with a leading position in the Northern California auto lending market, Sierra Central will achieve its goals.One of the credit union’s key initiatives is to reach out further to Millennials. Sierra Central CU has a first-time auto buyer program coupled with a promotional campaign to attract more Millennial borrowers, said Kelsay. continue reading »last_img read more