Credit unions have long been known for their emphasis on personalized customer service, limited fees, and giving back to the communities they serve. This has helped them to gain loyal members and hold their own in the lending market against global lenders and national banks. Due to the popularity credit unions have garnered throughout the years, some of the strongest competition credit unions now face in the financial industry are other credit unions.
Some credit unions have sought to gain market share by lowering interest rates, increasing staff and boosting advertising campaigns. This strategy may afford more loan volume but can result in reduced capital ratios and lower net profits, making it an unsustainable long-term solution. Price competition is always a losing battle, and most consumers care more about the service they receive than their interest rate. Instead of spending money to compete, make the choice to partner with other local credit unions and dedicate funds to where they matter most, the member experience.
Keystone Lending Alliance has been facilitating credit union partnership since 2009 and has had great success in growing our credit unions’ portfolios, auto loan counts and membership base. We provide the tools for our partner credit unions to responsibly grow their indirect loan volume while maintaining high yields and low operation costs with our turn-key indirect lending program. Click here to learn more about our customizable credit union programs.
When credit unions choose to partner with Keystone Lending Alliance, our overall field of membership grows, creating more lending opportunities and equally increasing loan volume for our partner credit unions. We understand that markets vary based on many factors and closely monitor local market trends to ensure our rates are competitive while also being profitable. Taking demographics into account with our lending guidelines has enabled KLA to maintain a portfolio of the highest quality and mix.
Convenience is key for standing out against the competition. Our lending service includes advanced technology such as eContracting and a state-of-the-art Application Portal System at no additional cost to our credit unions. These systems increase the speed and accuracy of loan decisioning and funding, resulting in more application submissions and greater loan probability from our dealership partners.
When it comes to marketing, Keystone Lending Alliance has you covered. Instead of spending your credit union’s money on mailers and advertising, we bring qualified borrowers to you! Our dedicated sales representatives manage dealer relationships to capture more indirect auto loans and add new dealerships to our network as we continue to grow. By partnering with Keystone Lending Alliance, your credit union will gain access to Member Auto Center, our online preferred dealership inventory platform, allowing your members to shop for their next vehicle directly on your credit union’s website, encouraging repeat business and member loyalty. Click here to learn more about Member Auto Center.
Another benefit of credit union partnership is the ability to share industry-leading financial products and services. Keystone Lending Alliance partnered with Insurian to create a CU Member Vehicle Return Program, built specifically for our credit union partners. Borrowers want peace of mind in their vehicle purchase and are more likely to join a credit union who offers this assurance to them even at a slightly higher interest rate than their competitors. Click here to learn more about our CU Member Vehicle Return Program.
Keystone Lending Alliance is committed to serving our credit union partners and providing them with the resources they need to succeed in the indirect auto loan industry. If you would like to learn more about our proven credit union solutions, give us a call at 724-934-3394 or email us at lending@kla.us.com. Our management team would love to discuss these options further with you to see if they would be a good fit for your credit union’s needs.
Keystone Lending Alliance, LLC 6021 Wallace Road Ext. Suite 100 Wexford, PA 15090 724-934-3394 (p) | 724-934-3389 (f) www.keystonelendingalliance.com