SAN ANTONIO (8/21/13)--San Antonio-based Security Service FCU placed in the fifth top spot among retail credit lenders in the nation for overall satisfaction, says J.D. Power's 2013 U.S. Dealer Financing Satisfaction Study, which cited dealer service, fast payment and an increased presence in Colorado and Utah as factors in the ranking.
SSFCU scored 917 on a 1,000-point scale based on finance offerings, the application and approval process, and sales representative relationship.
"We have approached our work with dealers as a partnership, and we're very passionate about the service we provide them," said Charles Goss, SSFCU senior vice president and chief lending officer. "These relationships drive the way we do business."
SSFCU moved to an entirely paperless process, which means it can approve a loan in as little as 15 to 30 minutes, with funding delivered to the dealership within 24 hours in all the credit union's regional markets.
The paperless process also saves the $7 billion asset credit union about 30 tons of paper or enough energy to power 30 average American homes for six months and enough water to fill 210,000 one-gallon bottles, it said, citing statistics from the U.S. Environmental Protection Agency.
SSFCU also recently passed the $5 billion mark in indirect auto lending. "According to the most recent reports, SSFCU funds one out of every four cars within the San Antonio area," said Danny Lane, SSFCU vice president, indirect lending. "We see our business growing steadily since our expansion into Colorado and Utah."
The report was released in July and based on a survey of 3,962 dealers in March and April.