Auto Financial Group (AFG), a provider of residual-based financing options to credit unions, is stretching its reach across Canada by signing on its first Nova Scotian financial institution, the company announced yesterday.
Halifax, N.S.-based CUA is the first credit union in the province to partner with AFG Canada, said Director of Marketing Monica Mendoza. Now, AFG operates in six of 10 Canadian provinces, spanning British Columbia to Ontario. “Our plans are to continue to expand nationally in Canada and sign more credit unions to increase the reach of our leasing program,” Mendoza said.
AFG’s leasing program is available to CUA’s 20,000 members. The leasing options provide members with “additional competitive options when they consider a new vehicle,” said CUA Chief Executive Marie Mullally.
In August 2018, AFG acquired CUL Administration of Canada and renamed it AFG Canada. Since then, Houston-based AFG has been working to increase the company footprint in North America beyond the U.S., which “was the goal of the acquisition,” Mendoza added.
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