Lower Credit Score Auto Loans - Good for Members, Good for the Bottom Line webinar
03.29.2016 - 03.29.2016 (lending)
1:00-2:30 PM CDT Online via Adobe Connect
Serve members with lower credit scores without putting your credit union at risk. According to Credit Karma, the average credit score for Americans aged between 18 and 44 is 630. However, the vast majority of credit unions approve very few auto loans for members with a score less than 630. In fact, credit unions only have 5% of this market and are missing enormous lending opportunities.
In this session, Mark Lynch uses his experience working on the National Credit Union Foundation’s REAL Solutions Program to:
- Examine what is the non-prime auto lending market and why lending to this market makes sense for credit unions
- Illustrate how credit unions can take seven steps to ensure that non-prime auto lending can be done in a way that is good for the member, does not place the credit union at risk, and is very good for the bottom line
- Highlight credit unions that are successfully doing this type of lending
You will also receive the following resources:
- Non-prime Auto Loan Feasibility Guide (Research Report)
- Non-prime Auto Loan Implementation Guide (Implementation Tool Kit)
Who Should Attend
This webinar is beneficial for credit union lenders, management and others interested in serving members with lower credit scores. Affiliation with CUNA/League is required for attendance.