Now imagine that happening through indirect auto loan programs. Hard to do, right?
Three things have changed the game:
1) The age of the Internet
2) Billions in auto manufacturer ad dollars
3) Auto dealerships changing their business model to ramp up financing options aggressively
All this has created a perception for consumers that their next car comes pre-packaged with a payment – and made the indirect loan market a new reality.
That’s where Proforma® comes in. We’ve developed an innovative end-to-end solution to help credit unions reclaim local market share from national lenders. We use modern analytics to accurately characterize low-risk solutions and bundle services from origination, service, and risk guarantee. Perhaps most of all, we see incredible opportunity in local communities and those living there with slightly below prime credit scores. These are your next members. They need credit unions! Proforma makes the connection.
We focus on being the best at one thing: An Indirect Auto Loan program that empowers credit unions to reclaim market share while pre-reserving for risk. Consider the impact of these new member pipelines.
Credit Unions are forced to adapt to a changing auto loan market dominated by big manufacturer money and national lenders. 84% of the time, the point of sale for auto lending is at a dealership, not a branch. As vital members of the local economy, Proforma re-establishes our credit union clients at this point of sale.
From origination to loan service and our unique Guarantee Fund assurance, we have developed a rigorous process that meets borrower’s needs and the credit union mission.