FREE SAMPLE - Click here for NEW Autos
FREE SAMPLE - Click here for USED Autos
MADISON, WI – Credit unions can take advantage of savings offered through a strategic alliance with the Credit Union National Association (CUNA) on a new pricing tool from Datatrac, a leading supplier of competitive interest rate information to the financial services community.
The product is designed to help in the pricing of indirect, risk-based auto loans offered through auto dealerships. Ken Wanek, president of Datatrac, says “The Indirect, Risk-Based Benchmark Report is designed to complement Datatrac’s other rate intelligence resources by providing a monthly benchmark of trends in the pricing of wholesale or ‘buy’ interest rates offered to dealerships for making indirect auto loans on behalf of financial institutions.”
For $395 per year, credit unions get monthly reports listing national and regional averages, high and low rates for new and used indirect auto loans for 24-, 36-, 48-, 60- and 72-month loans and for A+, A, B, C and D credit risks. Discounted packages with loan and savings rate data for local competitors are also available to credit unions through the strategic alliance with CUNA.
David Eib, VP-Lending from Park Federal Credit Union and Datatrac customer says “In today’s competitive market, risk-based pricing and indirect lending are essential tools to capture more auto loans. Datatrac’s new Risk-Based Benchmark Report is a cost-effective solution to sharpen our pricing strategies for A+, A, B, C and D credit rates.”
According to Wes Millar, vice president of strategic alliance for CUNA & Affiliates, the number of credit unions using Datatrac’s rate intelligence services has doubled since the two companies formed a strategic alliance in 2001. Millar says, “We are pleased to add this new tool to our package of services, offering credit unions an ongoing $100 savings off the usual $495 annual subscription rate for the Indirect, Risk-Based Benchmark Report.
To sign up for Datatrac’s Indirect/Risk-Based Benchmark Report or, call 800-257-7101, extension 4, or visit www.datatrac.net/cuna.
Datatrac is an information services company specializing in the financial services industry. Since 1988 the company has combined technology and research to enable thousands of financial institutions to make timely, competitive pricing decisions. With over 4 million interest rates for over 13,000 institutions updated annually, Datatrac manages the most comprehensive financial products database in the industry. For more information, visit www.datatrac.net/cuna.
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves more than 90% of America’s 10,000 credit unions, which are owned by more than 80 million consumer members. CUNA & Affiliates formed a strategic alliance with Datatrac in 2001 to offer credit unions tools to gain market share by making more informed, competitive pricing decisions and leveraging award-based marketing through Datatrac’s extensive rate intelligence products. Credit unions are not-for-profit cooperatives where people are worth more than money. For more information, visit www.cuna.org.