How CCFCU Deals With Dealers

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A lot of credit unions have gone to indirect programs or hired brokers to generate car loans, but those methods didn't work for City County FCU. Instead it has two employees working at the credit union to help members avoid dealerships for new and used car purchases and leases.

"It's a way to bridge that terrible experience of going into a dealership," said Jack Flatley, senior VP-lending.

The credit union advertises the service and when members call the auto resource center hunts down the car for them and closes the loan at the credit union. In addition, CCFCU purchases popular newer cars at auctions and sells them out of its parking lot.

"It's a helping hand as opposed to partnering with a dealership or partnering with a broker who is not your employee," Flatley related. "That's what most people do and we haven't found that that is necessarily that good of a deal for the member."

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