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A key strategy in Patelco's indirect lending program is its pre-approval process. Some 66,500 members are pre-approved for auto loans from $25,000 to $45,000. Through direct mail, the credit union offers to finance a vehicle of a member's choice from any source. Pre-approvals appear on members' statements every month as well as home banking when member signs on. The pre-approval strategy paid off as auto loan volume increased 25% during the first year.

That scares me! I almost feel Patelco CU offers TOO much money to people who might get back in the hole. I had a conversation with DW last night about a friend who, get this, has never been late on any payment her whole life...

Her scores...498, 523 & 482!

Now her utilization is 95% pays the minimum and is most certainly heading to a problem when the CC's go over the limit!

She could apply to patelco and get a 25K-45K auto loan!

She'd be half way to bankruptcy court by the time the repo'd the dang thing.

I am happy for the people who use this correctly, it's great news you get prime rates and nice fat offers. Congrats!

For those who feel compelled to take allot and might not understand that they are over thier head and at 400+ already! That's just scary!

I want to help/see poeple back on thier feet!


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