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The view from the trenches
Credit union auto lending has been doing gangbusters for several years now. Can the trend continue? At CU Direct’s recent DRIVE conference near Dallas, Credit Union Journal asked attendees how auto lending has been going so far in 2018 and what they are projecting through the end of the year.
Tammie Atoigue, VP of consumer lending, $1.3 billion Sound CU, Tacoma, Wash.
We had 20 percent growth last year and we have a goal of 9 percent growth this year. We are inundated right now because we offer a great experience. Dealers love us because we answer the phone on the first ring, while they sometimes can’t get other lenders to answer the phone at all. When we get an indirect member, we follow up with a phone call. We ask about their experience at the dealer and we offer a cross-sell product. This allows us to get those one-transaction members to have multiple products with us.