Auto Financial Group Signs with United Federal Credit Union

HOUSTON--Auto Financial Group (AFG), an online provider of residual-based financing products for credit unions, announced today that it has signed an agreement with United Federal Credit Union (UFCU). Under the agreement, UFCU will offer AFG’s DrivingSense as an indirect lending option.

DrivingSense is an auto financing product that offers the lease-like benefits of a balloon loan to credit unions and their members. It allows credit unions to “build” a vehicle for their members, compare payment terms with conventional loans, and offer their members lower payments (often as much as 40% lower), flexible two- to six-year terms, actual ownership of the vehicle and several end-of-term options.

DrivingSense removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle’s disposition at the end of the term. AFG is paid one low administration fee for each DrivingSense loan, while the credit union earns all the interest. Credit unions are protected while building an important relationship with their members.

Michigan-based UFCU currently has more than 84,000 member/owners worldwide and manages assets in excess of $800M.

“DrivingSense adds another financing option for our credit union members, which is particularly important in today’s economy when people are so payment-conscious,” stated UFCU Indirect Lending Manager Noe Najera. “We want to be a leader in the credit union movement offering this kind of service.”

“We continue to believe that this is an important time for DrivingSense,” says AFG President Richard Epley. “We look forward to working with UFCU and providing their credit union members with lower payments and UFCU itself with higher yielding loans, a combination of features that are simply unmatched in the current marketplace.”

About Auto Financial Group, Inc.

Auto Financial Group, Inc. (AFG) is a Houston-based company that provides DrivingSense™, an online residual based auto financing product for credit unions and other financial institutions. AFG removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle’s disposition. For more information about getting DrivingSense or connecting with a credit union offering DrivingSense, call 713-812-3333 or toll free at 877-354-4AFG, or visit www.autofinancialgroup.com.

About United Federal Credit Union

United Federal Credit Union has served its members since 1949 by helping them to build a sound financial future. Presently UFCU consists of more than 95,000 member/owners worldwide, and manages assets in excess of $1.1 billion. Its corporate offices and main branch are located in St. Joseph, Michigan with additional branches located in Arkansas, Michigan, Nevada, North Carolina and Ohio. For more information about United Federal Credit Union, please call toll-free at 1-888-982-1400, or visit the credit union’s web site at www.unitedfcu.com.