Putting the "Mobile" in Auto Loans
When it comes to auto loans, credit unions are "car-jacking" the industry, being the pace-setter in percentage growth among lenders. With impressive acceleration in the number of auto loans originating from credit unions last year, 2015 is the year for you to put the pedal to the metal and increase your market share:
"Auto loan originations reached $153 billion in Q2 2014, which was a 16 percent increase over the same quarter last year. While the largest contribution came from captive auto lenders at $47 billion (a 14 percent increase), credit unions experienced the largest year-over-year increase of 35 percent, with originations reaching $37 billion in the latest quarter." --Experian
Experts predict that US auto sales will hit record high's in 2015 ($13.83 million), as reported by CNBC. With spring car buying season around the corner are you in a position to put auto loans into the hands of your members?
You can stay ahead of the competition by using advanced technology to target the right members and increase profitability. Mobile lending will open new lanes to members who appreciate the simplicity and ease of using their mobile devices.
FLEX Mobile Lending Offers Loans To Go!
We invite you to download our eBook on Mobile Lending for Credit Unions, "Loans To Go!" This will help your credit union develop a mobile lending strategy and give you some guidelines on implementation, so you are not behind the competition. If done right, mobile lending can give your credit union the edge it needs to gain this opportunity for new business in 2015. Investing in integrated technology through FLEX will ensure that your mobile loan applications will have you taking a "victory lap".
