adminA unique opportunity is now available for state-chartered credit unions to stake a claim in the new and used auto market through LEVERAGE partner, Credit Union Loan Source (CULS). CULS’ expertise in the auto lending industry allows credit unions to increase revenue through monthly indirect auto loan participations originated in a network of over 550 franchise dealers across eight states.
Loans are underwritten to uniform credit guidelines for prime loans (640 FICO and above) and are designed to maximize net yields. Participating credit unions own a portion of every loan in the pool, mitigating the risk and bringing greater diversification to their portfolios. CULS model targets high yielding prime segments, including a greater concentration of used vehicles and 84-month loans. This strategy allows CULS to target a net yield of 425+bps for investing credit unions. Monthly investments are scalable from $250k and up, and administration of the program is simple, CULS provides all necessary reporting and support.
To learn more about how to increase indirect lending at your credit union, contact us at consult@myleverage.com.
