Credit Union News Blog by Oak Tree Business Systems, Inc. - Your fun and informative source for updates, regulations and more.
Summer is typically known as a peak auto loan financing season for credit unions. Reasons for this increase vary, but primarily, people are more active in the summer and tend to be in vacation mode. And, let's face it, buying a car is more fun in the summer- right? Plus, the thought of dredging from one dealership to another in knee-high snow and freezing temperatures doesn't seem like fun for most consumers (even though some might argue that the winter months are the best time for test-driving a vehicle).
Be sure to pay attention to an often overlooked classic car consumer in the world of auto financing. Classic car collectors need financing too! Of course, our Oak Tree forms package for consumer lending covers all of the basics and nuances necessary to underwrite a classic car loan. From credit line account and personal loan applications, to account agreements and disclosure statements, and even things like co-signer notice and adverse action notice forms are included with our consumer lending forms package to help with auto loan financing.
The NCUA published a press release on Friday July 15 announcing "new resources educate consumers about rights when sending money abroad". Within this, NCUA provided a video and brochure available to credit unions to use for free to share with their members to educate consumer about their rights.
To learn more about wire transfers over sea, visit NCUA's Wire and Remittance Transfers page.