Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Tropical Financial CU Low rates boost auto loans
MIRAMAR, Fla. (11/29/12)--Tropical Financial CU in Miramar, Fla., is offering low rates for auto financing that have been a boon to the $574 million asset credit union's business.

This week, Tropical Financial is offering loans with as low as 1.49% interest on new or used vehicles, and refinancing rates as low as 2.5% (The Star-Ledger Nov. 25).

In the past year, the credit union has seen a 46% rise in consumer loans, propelled by the increase in auto loans, Helen McGiffin, Tropical Financial chief operating officer, told the newspaper, adding that is a "pretty hefty increase."

Because automakers are subsidizing low interest loans at dealerships, with some charging no interest, lenders realize they must offer inexpensive loans to stay competitive, McGiffin told the paper.  

Consumers currently are accustomed to 0% loans, she added.


RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
1 day ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
1 day ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
1 day ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
1 day ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
1 day ago