With competition coming back strong into the auto lending market, many indirect lending supporters argue that if a credit union is not at the dealership, it is missing out on loans.
In response, two credit unions took matters into their own hands, vowing that even though they weren't going to be at the dealership, they weren't going to miss out on loans.
The $1 billion Pen Air Federal Credit Union in Pensacola, Fla., and the $36 million Greenville Heritage Federal Credit Union in Greenville, S.C., decided to launch auto loan recapture programs through CUNA Mutual.
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