When the COVID-19 pandemic first hit the United States, no one knew how the economy would be impacted, especially the auto industry. In February 2020, China experienced a dramatic 80% decline in overall automotive sales. To prevent a similar, disastrous decline in the U.S., rapid change was needed to continue to engage buyers, secure loans and keep the industry alive.
At Golden 1 Credit Union, we recognized the significant challenges facing the auto industry, but due to an increased focus on digital that the credit union had already enacted at the start of 2020, we were poised to make a rapid and smooth transition to a remote workforce and a digital auto lending experience.
|Relationships With Members
When the shelter-in-place orders were first issued in California, Golden 1 worked with its information technology department to swiftly enable the majority of our teams to work remotely. Within a very short timeframe, 95% of our lending department was set up from home.
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