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News Now

CU System
CUcorp RV finance company enter marketing agreement
LIVONIA, Mich. (8/3/09)--The Michigan Credit Union League's wholly owned subsidiary, CUcorp, has entered into a marketing agreement with recreational vehicle (RV) finance company Thor CC Inc. (TCC) to promote consumer RV loans to credit unions across the country. A University of Michigan researcher predicts that the number of RV-owning households will increase by next year because strapped consumers are turning to RVs for closer-to-home vacations. Thor CC is the captive finance company for Thor Industries Inc., the world's largest manufacturer of RVs with names such as Airstream, Breckenridge, CrossRoads, Damon Motor Coach, Dutchmen, Four Winds, Keystone and Komfort. Thor Industries maintains the largest market share for towable units. Through its 1,300 RV dealers nationwide, TCC originates secured RV loans and sells those loans to financial institutions. David Adams, CEO of CUcorp and the league, said the partnership broadens the complement of CUcorp's lending products provided to credit unions. "High-quality RV loans can help credit unions diversity their portfolio in a safe and profitable manner," he said, adding it also "provides an additional avenue to attain new members." Traditionally RV loans have outperformed mortgage and home equity portfolios, said cuCorp and Thor. For more information, contact Lisa Robinson, CUcorp vice president for marketing and sales at 800-262-6285, ext. 539 or at lisa.robinson@cucorp.com.


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