Auto Financial Group, one of the nation’s leading sources of residual based financing and vehicle remarketing for financial institutions, enjoyed more client signings during the fourth quarter.
During the quarter, AFG said it signed a total of seven new credit unions and six institutions agreed to join the AFG Balloon Lending Program. According to a news release distributed on Wednesday, that group of six credit unions includes:
— Shell Federal Credit Union
— Honolulu Federal Credit Union
— Pheple Federal Credit Union
— Marion Community Credit Union
— SECNY Federal Credit Union
The company added that Forest Area Federal Credit Union also will be implementing the AFG Leasing Program, which continues to build momentum since it launched in 2016.
AFG highlighted these seven credit unions represent combined assets of more than $2.4 billion and a reach increase of nearly 5.9 million consumers across seven states.
“In an environment that continues to push the limits of affordability for vehicles, with average monthly payments now exceeding $525 per month according to Edmunds, credit unions are eager to sign up for the AFG Residual Based Financing Programs to gain a competitive advantage,” AFG chief executive officer Richard Epley said.
“The programs allow credit unions to offer a lower payment vehicle financing option to borrowers,” Epley continued.
To learn more about AFG’s programs, go to www.autofinancialgroup.com/products.