SAN ANTONIO, Texas – Small and mid-size credit unions participating in indirect auto lending through Southwest Business Corp.'s wholly-owned collaborative acceptance corporation, Financial Services Acceptance Corp. (FSAC), will soon have the opportunity to provide loans to less than A paper members.
Founded by SWBC in 1994 by an initial group of five credit unions as an innovative way for small and mid-size credit unions to participate in indirect auto lending, FSAC currently represents nine credit unions – five in Florida, three in Texas, and one in Tennessee – that range in size from $50 million to $250 million.
FSAC brings about $10 million a month in auto loans to the credit unions and buys about $90 million a year in high grade paper for them.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
