From the President

Most of us think of only milk and cheese as a commodity but the reality is that our consumer loan business has also become a commodity.  Turning auto loans for members is more competitive now that I have ever seen.  In the past, an Indirect Lender only had to be at the point of sale to capture the member loans but now that is not enough.  Your members are exposed to more than five financing opportunities before and after they purchase a vehicle regardless if you provided them with the first contact and financing option to purchase a new vehicle. Through education, we must show our members the Credit Union difference and why financing with a Credit Union is better.  CUAC’s Dealer base can act as a perfect outlet for securing your member’s financing.  We have a vast number of certified Dealers participating in our Credit Union Preferred Dealer program where your members can enjoy a hassle free car buying experience!  I would encourage your credit union staff to learn more about our Preferred Dealer program at www.cumemberautocenter.com.  The information on this site can help guide your staff on how to educate members on their next auto purchase.  Outside of the Captive Finance companies are the secondary lenders. As that market space continues to shrink; retaining your current members has become more important than ever.  Whether through Financing, Insuring, Marketing or Educating, CUAC is looking for new ways to “Drive the Industry in a new Direction”.

Adrian Dominguez
President and CEO of CUAC, LLC