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Lifetime Auto Loan

  • Linda Armyn Chief Strategy & Marketing Officer at Bethpage Federal Credit Union
  • Danielle Chatfield-Beres Vice President/Controller at First City Bank
  • Bob Falk President/CEO at Purdue Federal Credit Union
  • Michael Murphy President, CEO at Consumers Credit Union
  • David Pope SVP Technology Services at SAFE Credit Union
  • Darin Woinarowicz President/CEO at Arrowhead Central Credit Union

The Lifetime Auto Loan is truly a differentiating product because banks generally do not offer open-end auto loans. Open-end lending is quite common in credit unions. The goal of the Lifetime Auto Loan is to eliminate the need for a member to submit future auto loan paperwork, made possible by the fact that the product contains a blanket power of attorney agreement for current and future lien purposes. From the member’s perspective, the first Lifetime Auto Loan application should be the last time he or she will need to sign documents for an auto loan with their credit union.

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