Four new credit unions signed on to the AFG Balloon Lending Program
Auto Financial Group (AFG) signed four new credit unions to its Walk-Away Balloon Lending Program: First Service Credit Union, Allied Healthcare Federal Credit Union, Northern Credit Union and Centricity Credit Union. These four credit unions represent combined assets of over $1.6 billion and a reach increase of 6.8 million consumers across four states.
"Partnering with AFG allows us to assist our members with their auto purchase while providing them an affordable payment. We're thrilled to offer different avenues for our member's lending needs with this new auto program that allows borrowers to purchase their automobile through their credit union on their terms," says Dan Estal, Vice President of Lending at Northern Credit Union. "Having the ability to finance it through our new lease like program gives them the flexibility to acquire new or used vehicles and for terms of up to 72 months with various mileage options providing many of the same benefits of a new car lease – but on our members terms!"
"TrueCar reports a 30% increase in the mix of loan terms of 84 months or more last quarter compared to last year, with borrowers opting for longer loan terms to offset the impact of rising interest rates. These financial institutions, however, will now be able to provide a low monthly payment alternative with shorter terms to their borrowers through the AFG Balloon Lending Program," said Richard Epley, CEO of AFG AFG signed four new credit unions to its Walk-Away Balloon Lending Program: First Service Credit Union, Allied Healthcare Federal Credit Union, Northern Credit Union and Centricity Credit Union. These four credit unions represent combined assets of over $1.6 billion and a reach increase of 6.8 million consumers across four states.
"Partnering with AFG allows us to assist our members with their auto purchase while providing them an affordable payment. We're thrilled to offer different avenues for our member's lending needs with this new auto program that allows borrowers to purchase their automobile through their credit union on their terms," says Dan Estal, Vice President of Lending at Northern Credit Union. "Having the ability to finance it through our new lease like program gives them the flexibility to acquire new or used vehicles and for terms of up to 72 months with various mileage options providing many of the same benefits of a new car lease – but on our members terms!"
"TrueCar reports a 30% increase in the mix of loan terms of 84 months or more last quarter compared to last year, with borrowers opting for longer loan terms to offset the impact of rising interest rates. These financial institutions, however, will now be able to provide a low monthly payment alternative with shorter terms to their borrowers through the AFG Balloon Lending Program," said Richard Epley, CEO of AFGAFG signed four new credit unions to its Walk-Away Balloon Lending Program: First Service Credit Union, Allied Healthcare Federal Credit Union, Northern Credit Union and Centricity Credit Union. These four credit unions represent combined assets of over $1.6 billion and a reach increase of 6.8 million consumers across four states.
"Partnering with AFG allows us to assist our members with their auto purchase while providing them an affordable payment. We're thrilled to offer different avenues for our member's lending needs with this new auto program that allows borrowers to purchase their automobile through their credit union on their terms," says Dan Estal, Vice President of Lending at Northern Credit Union. "Having the ability to finance it through our new lease like program gives them the flexibility to acquire new or used vehicles and for terms of up to 72 months with various mileage options providing many of the same benefits of a new car lease – but on our members terms!"
"TrueCar reports a 30% increase in the mix of loan terms of 84 months or more last quarter compared to last year, with borrowers opting for longer loan terms to offset the impact of rising interest rates. These financial institutions, however, will now be able to provide a low monthly payment alternative with shorter terms to their borrowers through the AFG Balloon Lending Program," said Richard Epley, CEO of AFG