Monica Melton

Anderson Brothers Bank Looks to Expand Business, Shrink Fraud in 2019

Anderson Brothers Bank’s priorities for 2019 are expansion and fraud prevention. The bank, which operates 23 branches in South Carolina and is permitted to offer auto loans in North Carolina, has filed for a license to provide auto financing in Georgia in the first quarter of this year. The bank will initially serve dealerships in […]

• Monica Melton
• January 3, 2019
• Innovation & Technology, Risk Management

5 Innovative Auto Finance Moves of 2018

A number of auto finance companies rolled out products and services in 2018 that the editors of Auto Finance News found noteworthy, among them: Honcker Adds Insurance to List of App Services Mobile car buying app Honcker added insurance to its platform this year, bringing the company closer to making the entire car buying experience […]

• Monica Melton
• December 31, 2018
• Innovation & Technology, Sales & Marketing

New-Vehicle Retail Sales Seen Dipping in December

J.D. Power and LMC Automotive forecast that new-vehicle retail sales for December will be down 1% from December 2017, the sixth consecutive monthly decline, and that retail sales for all of 2018 will be off 1.3% from full-year 2017. The research companies expect December retail sales to come in 1.3 million units. For the year, […]

• Monica Melton
• December 28, 2018
• Sales & Marketing

USAA Bank Tees Up Subscription Services at Auto Experience Lab

USAA Bank’s Auto Experience Lab is working to enter the subscription service market, but even after seven years of development, rollout for that service is still “under the queue of projects to complete,” James Spears, assistant vice president at USAA Auto Experience, told Auto Finance News. Much of the work in the lab is dedicated […]

• Monica Melton
• December 24, 2018
• Innovation & Technology

Oregon CU Caps Loans at 84 Months Despite Consumer Demand for Longer Terms

Despite increasing customer requests for 96-month auto loans, Oregon Community Credit Union caps terms at 84 months, Ethan Nelson, Oregon Community Credit Union vice president of credit administration, told Auto Finance News. While indirect auto lending at the credit union has decreased in the past year, Nelson said the lack of 96-month financing was not […]

• Monica Melton
• December 21, 2018
• Credit Performance, Risk Management

Alliant Credit Union Reaches $80 Million Milestone with TrueCar

Alliant Credit Union, which partnered with an online automotive marketplace TrueCar in 2015, said as of December 2018 that it has originated 3,000 auto loans worth $80 million through the platform and that Alliant members have saved $4 million off manufacturers’ suggested retail prices. TrueCar allows Alliant members to access certified-dealer inventory, check vehicle prices, […]

• Monica Melton
• December 19, 2018
• Archives, Innovation & Technology, Risk Management, Sales & Marketing

BECU Automates Decisioning to Offset Origination Decline

With volume slipping and interest rates on the rise, Boeing Employees Credit Union has worked to manage loan pricing and strengthen underwriting guidelines this year, Randy Schultz, the credit union’s senior product strategy manager for consumer loans, told AFN via email. For instance, BECU is in the process of implementing a customized scoring system to […]

• Monica Melton
• December 19, 2018
• Risk Management

Anderson Brothers Says It’s on Target for Double-Digit Origination Growth

Anderson Brothers Bank, which operates 23 branches in South Carolina, is on track to increase auto loan originations 22.5% this year and as much as 20% in 2019, according to Micky Watts, the bank’s senior vice president of indirect lending. The bank specializes in subprime and near-prime loans. While larger banks in North and South […]

• Monica Melton
• December 18, 2018
• Credit Performance, Risk Management, Sales & Marketing