DUBLIN, Ohio - Ohio Central Savings, one of a handful of thrifts that focuses on car loans, plans to launch a program to help other thrifts increase their auto lending.
The subsidiary of the $7.4 billion-asset Third Federal Savings and Loan Association of Cleveland - the nation's largest mutual thrift - will unveil its "Auto Arm" program by yearend, according to its president, Robert W. Hughes.
Ohio Central would act as a consultant to thrifts that want to expand their auto loan portfolios. It would offer advisory and support on training, marketing, underwriting, and pricing, and would manage the lending operation if asked.
The mutual thrift, which converted from a credit union in 1998, makes about $1 million of car loans a week, Mr. Hughes said. Third Federal, which acquired Ohio Central in October, is helping it develop Auto Arm, he said.
