Since 2009, Space Coast Credit Union has recognized auto dealers that have provided exceptional service to members and generated the most loan volume. Top dealers are paid a higher commission for completed auto loan referrals.
Through provocative ads, such as the one shown at left, as well as through social media and the testimonies of actual members, Space Coast Credit Union launched a June marketing campaign to educate the public about rate markups at auto dealerships.
A month later on July 18, the $3 billion credit union in Melbourne, Fla., decided to scrap the entire effort after dealers and a trade group blasted the financial institution for what it described as misguided advice to consumers.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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.
