As credit unions continue to seize auto financing marketshare, knowing how they position themselves for success is key to understanding their growth.
In this episode of The Roadmap, Sonya McDonald, Executive Vice President & Chief Lending Officer at Randolph-Brooks Federal Credit Union talks about the lenders’ strategy for growing direct lending by working with dealerships and how credit unions provide a unique customer service experience that bodes well for growth. She also discusses RBFCU’s longterm goal to increase automated underwriting, and even how women’s representation has grown in the credit union space.
“For us, our strategy is to take care of our members — if you build it they will come…If you treat members with dignity and respect and make sure they know you are in it for them, they tell their friends and their family and that’s worked really well for us,” she says.
As the Executive Vice President and Chief Lending Officer at Randolph-Brooks Federal Credit Union, McDonald is responsible for a $6.6 billion portfolio that encompasses consumer, mortgage and commercial lending. The majority of her nearly 25-years of experience in marketing, strategic planning, management, and lending has been spent in the credit union industry. Prior to joining Randolph-Brooks in 2003, she was employed by Centris FCU in Nebraska and Day Air CU in Ohio.
Tune in to The Roadmap to hear the full podcast below. Feel free to email us with questions and suggestions at esandler@royalmedia.com.
For more content like this, join us at the upcoming Auto Finance Performance & Compliance Summit on May 9-10 in Omni Dallas. To register click here.
