Interest rates around the country keep rising, and because of this, refinancing has become more of a challenge. Even with that, car loan payments are one area where interest keeps below pace.
With this in the background, IMAC has been working with a new partner, National Auto Loan Network. They strive to take the mystery out of obtaining financing for either purchasing or refinancing auto loans. NALN has proven systems and processes for identifying and converting suitable refinancing opportunities at scale.
This can be an excellent benefit option for credit unions who qualify. Here’s a quick look at three of the programs they can offer you through us.
Participation
This is where a state or regional credit union that cannot take a national portfolio would earn a sponsoring credit union that would buy the extra flow. Under this arrangement, you would keep 90% of the flow. For this offer, the minimum is $1 million per month.
Liquidity
This program is for credit unions that are at capacity on loans-to-assets. NALN through IMAC, buys 90% participation for an auto loan portfolio with a minimum of $50 million, and no limit for a maximum amount. This all provides stronger liquidity on your business’s balance sheet.
Forward Flow
With this final option, NALN produces near-prime auto refinancing at an attractive yield. Credit unions provide the capital while the program delivers a monthly flow volume that conforms to your underwriting criteria. This means that your company can earn a net 6-7% extra revenue as part of this investment in a diversified loan national portfolio, delivering a greater yield than you may be experiencing now.
Your leader in providing significant benefits
NALN is our latest partner that will help clients with benefit and revenue needs. IMAC blends a high level of expertise in insurance with the ability to be personalized. Our goal is not to sell you any program — it’s to sell you the right one for you and your group. Ultimately, your members will benefit from the best loan product for their situation.
To achieve this, we work closely with all our clients to create a customized program that thoroughly answers your needs. The goal is to give your stakeholders the best insurance/product experience possible, and for them to understand that options are available in their unique situation.
Go to our website to learn how we can help you with insurance, marketing and administration. We look forward to hearing from you!