MACON, Ga.-With manufacturer incentives making indirect auto an extremely tough market to compete in now, MidSouth Community FCU quickly turned to direct auto loans this year and has more than doubled results over last year.

"We are focusing on capturing loans from members who want to refinance for a better rate," said CEO Roy Bibb.

Illustrating how tough the indirect market has become, MidSouth Community is not having luck in that arena with its 1.99% APR for 36 months on the best credit, and 2.20% for 60 months. But recapture is a different story. "We did $1.5 million in direct auto during March this year and $533,000 in March, 2012," said Bibb. "We brought in more than $1.7 million in April 2013, significantly better than the $836,807 we did in April last year."

The $181-million credit union's other big push this year has been expense control, reviewing vendor relationships and contracts, and at the same time asking whether the expense is necessary and if it brings value to members.

"We believe we will be able to add 10 basis points to the bottom line by just examining our expenses and looking for efficiencies," said Bibb. "We have other irons in the fire, but these have had the most measurable impact."

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