State Employees Credit Union (SECU) of Maryland, the state’s leading credit union with 225,000 members and nearly $3 billion in assets, is putting mobile first when it comes to their auto lending business. In 2014, they saw good growth in the number of auto loans they financed, and 2015 promises to continue the trend. In order to keep up with growth, they are stepping up their game in the mobile arena. Their goal is for their mobile application technology to rival that of their online, tablet, and phone-based services.
One Vice President noted that the credit union is seeing a lot of activity in the credit range between prime and subprime–more specifically, credit scores in the range of 670 to 700. These scores are 50+ points higher than those classified as “bad,” but they are not quite high enough to be term “good” or “prime.”
Read the full article on the subject here: http://www.autofinancenews.net/maryland-cu-increases-tech-investment-expects-more-loan-applications-in-2015/