Browse by Type

i3 Concept |

Peace of Mind Auto Loan

  • Jeanne Denton Founder and CEO at Learn and Thrive Co
  • C. J. Meyers Senior Vice President/CFO at Teachers Federal Credit Union
  • Jon Reske Vice President of Marketing at UMass Five College Federal Credit Union
  • Ginger Salt Chief Experience Officer at Piedmont Federal Savings Bank

For many car buyers, the most urgent priority is finding a lender to finance their cars. Car buyers will then consider whether or not the lender’s auto loan payments will fit into their budgets. The reality is that there are many other major expenses related to car ownership beyond the monthly auto loan payments, to take into consideration such as insurance payments, car inspections, license tag renewals, gas, oil changes, and unexpected repairs.

The Peace of Mind Auto Loan simplifies total car ownership by adding both an automated savings and insurance payment solution to the vehicle loan. This innovative concept provides members with an easy solution—they make one payment which includes a supplemental amount in addition to the monthly loan payment and the credit union then takes care of paying the insurance, accruing for auto maintenance, repair, and other related expenses, as well as helping them save for their next dream car.

Contact us to learn more about this idea from Filene i3.