The Michigan Credit Union League announced a marketing agreement with Thor Industries Inc., the largest producer of recreational vehicles, to aid credit unions offering secured RV loans through Thor’s captive finance firm, Thor CC Inc., according to Credit Union Times.
Under the marketing pact, CUcorp, the league’s marketing subsidiary, will promote “high-quality consumer RV loans” and “broaden the complement of lending products we provide to credit unions,” according to the league.
“High-quality RV loans can help credit unions diversify their portfolio in a safe and profitable manner and also provides an additional avenue to attain new members,” said David Adams, president/CEO of the league.
The captive, Thor CC, originates secured RV loans and sells those loans to both banks and CUs. Thor has 1,300 dealers nationwide.
In a press statement, the league noted that RV loans have outperformed mortgage and home equity portfolios, and the new agreement will allow CUs “cross sell other products and services to this desirable demographic.”
“CUcorp has been a leading provider of new products and services to the credit union industry for the past 40 years,” said Ed Arienti, president and CEO of Thor CC Inc. “We are very excited about this new partnership and look forward to delivering high-quality RV loans and new members to CUcorp’s credit union network.”
TCC offers credit unions a unique channel to acquire incremental members and cross-sell other products and services to this desirable demographic. Traditionally, RV loans have outperformed mortgage and home equity portfolios.
Credit unions interested in finding out more about this opportunity are encouraged to contact CUcorp Vice President for Marketing and Sales Lisa Robinson at (800) 262-6285 ext. 539 or [email protected].
CUcorp, a marketing company based in Livonia, Mich., and a wholly-owned subsidiary of the Michigan Credit Union League, provides advertising services through CU Growth Solutions and technology solutions through CU Village. Follow Love My Credit Union on Twitter at www.twitter.com/LoveMyCU.