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Dealers Destroy CU Markup Campaign

Did Space Coast CU make the correct decision to cancel its member education campaign after indirect auto dealers complained?

By Michelle A. Samaad | Updated on July 27, 2014
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.

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