Q: Can CUALN assist me with my loan growth?
A: Yes. With 86% of car financing done at the dealership; CUALN, with its relationships with over 230 dealerships can help to maximize your exposure in Maryland and Virginia markets. Your credit union’s financing option will be available to your members when they are ready to buy.
Q: Does the Credit Union have control of underwriting and rate setting?
A: Yes, loans are underwritten based on each credit union’s risk tolerance. Credit unions have the ability to determine rate pricing and publish rates accordingly on a bi-weekly basis.
Q: How are the dealer relationships controlled?
A: All dealers have executed a master dealer agreement assuring compliance with sound business practices and adherence to federal, state, and local regulations. Dealers are measured against performance criteria and locally managed by CUALN staff.
Q: What costs are associated with joining the program?
A: There are no initial costs to participate in the program; total costs to credit unions are on a per funded loan basis.