Their approach to member service inherently resists the siren song of “too big to fail” national institutions and provides a haven for citizens unwilling to finance lavish board retreats and bank perks.
Their mandates to steward member deposits follow strict, regulated standards. Proforma understands and respects this mission-driven commitment. In fact, we believe credit unions are often the best choice for underserved communities, many of whom can build or rebuild great credit histories.
We also know that the way business gets transacted has undergone massive changes during the Internet age. One consequence has been a severe drop-off in the number of borrowers who first go to a credit union to secure a loan before going to a dealership to buy a vehicle. Those days are disappearing rapidly, taking all the loan yield that goes with it. It’s near guaranteed that anyone can get a loan and a car at the dealership.
That’s why Proforma engineered a process that empowers credit unions not just to enter the near-prime, indirect space but be the best advocate new and used car buyers have.