Auto Financial Group (AFG), one of the nation’s leading sources of residual based financing and vehicle remarketing for financial institutions, recently announced first-quarter growth figures, revealing increasing momentum in new customer signings.

Since January, AFG reported that it has signed four new credit unions to the AFG Balloon Lending Program. That group includes:

—Torrington Municipal & Teachers Federal Credit Union
—Sioux Falls Federal Credit Union
—Great Lakes First Federal Credit Union

AFG indicated the fourth credit union could not be disclosed due to marketing policies.

Officials highlighted these four credit unions represent a reach increase of 634,389 consumers and combined assets of more than $1.9 billion across four states.

Additionally, AFG mentioned FNCB Bank signed on as a partner in the first quarter.

“We welcome these financial institutions to the growing AFG family,” AFG chief executive officer Richard Epley said. “Residual-based financing is at an all-time high in the U.S. and we’re excited that these institutions have chosen our program.”

Auto Financial Group added that it has also started to receive transactions from its recently launched leasing program and expects continued growth through the second quarter as the company seeks to provide its unique financing products to financial institutions across the U.S.

Learn more about the leasing program at www.autofinancialgroup.com/products/leasing-program.

AFG reiterated that its balloon lending program can provide institutions with a walk-away, residual based, balloon loan program that is fully insured, and where AFG takes 100 percent of the residual value risk and completely manages the end of term process.

Learn more at www.autofinancialgroup.com/products/balloon-lending-program.