Testimonials

• Commonwealth Credit Union - Assets $962 million
  Frankfort, KY
  
  I had heard some horror stories and was afraid of anything to do with Indirect Lending. However, we decided to try it with the Koger & Williams Companies. We could not be more pleased. We have had the program since April 1997 and are up to $4 million a month in volume.
  
  Our delinquency is less than on the portfolio which we generate. The program has made a difference in profitability. I want to thank Eddie and his staff for the support and the prompt attention to any concerns.
  
  Gary Wallace
  President/CEO
  Commonwealth Credit Union

• LockHeed Employees' FCU - Assets $945 Million
  Marietta, GA
  
  The number of un-funded loans each month was growing at an alraming rate. Upon reviewing these pre-approved mostly automobile loans we determined that we were losing them to the dealerships.
  
  It was at that point that staff began investigating Indirect Lending. Knowing that Atlanta is a very aggressive market we needed someone with the expertise to develop and implement an indirect program that was competitive yet remained member friendly. We looked at other credit unions' programs that were developed in house and those implemented by a third party. After carefully weighing the pros and cons we decided that the use of a third party was the most prudent course of action. Koger & Williams Companies were chosen because of their experience and successes at other credit unions.
  
  We implemented the program on October 1, 2000 with ten dealers on board. We mutually set an objective of $600,000 for the first couple of months. Much to our delight we actually booked $1.4 million that first month. Eighty percent of this total was A & B paper and seventy-six came from new members that joined at the dealership.
  
  After six months of operation, we had Twenty-four dealers in the program booking over $4,000,000 in new loans each month and added $18,700,000 to our loan portfolio. The percentage of A & B paper and loans from new members continues to exceed seventy percent.
  
  We have been extremely pleased with the level of expertise and service provided by Koger & Williams. The program's level of success has surpassed our expectations and we look lforward to a long and successful relationship with Riley and Eddie.

• Y-12 Federal Credit Union - Assets $688 Million
  Oak Ridge, TN
  
  At Y-12 Federal Credit Union we were concerned that members were being converted to other financial sources when purchasing automobiles at local dealerships. Koger & Williams Companies helped us develop a highly successful Indirect Lending Program. Our members are excited about the service offered and the convenience of one stop shopping. Our relationship with the area dealers is stronger than ever before.
  
  Our experience with Koger & Williams Companies has been extremely positive, as they have played a key role in our indirect lending success. Indirect lending has led to increased profitability and greater loan volume for the Y-12 Federal Credit Union.
  Tom Hilton
  President, CEO
  Y-12 Federal Credit Union

• Park Community Credit Union - Assets $604 Million
  Louisville, KY
  
  We partnered with Koger and Williams Companies to set up our indirect program in 1997.  Over the years, our network has increased to over 100 dealers in Kentucky and Indiana.  We currently average over $16 million in purchased contracts each month and 250 new members.  Overall, our seventeen year relationship has resulted in over 16,000 loans and more than $350 million in volume.  The service has become a staple of our lending program and is greatly appreciated by our members.  Koger & Williams continues to be  a key part of our indirect strategy.
  
  Jim Spradlin, CCUE
  President, CEO
  Park Community Federal Credit Union

• Diamond Credit Union - Assets $400 Million
  Pottstown, PA
  
  Diamond Credit Union has just completed its sixth year of indirect lending operations and its strategic relationship with Koger & Williams. The growth and success that we enjoy with the indirect lending results, program knowledge and relationships with local participating dealers is nothing short of astounding! We're completely satisfied wiith our relationship with Koger & Williams. We look forward to the continued expansion of our indirect lending program and to the growth of a mutually rewarding business relationship.
  
  John M. Faust, CEO
  Diamond Credit Union

• Kentucky Telco Federal Credit Union - Assets $307 Million
  Louisville, KY
  
  We have been with Koger & Williams since 1998 and could not be more pleased.  Our Indirect loan volume has grown each year since starting this program.  The responses from our members are overwhelmingly positive and if there is a problem, it is quickly addressed by K & W.
  
  K&W visit dealers and credit unions regularly to stay on top of the program and make us aware of any issues.  They make suggestions to enhance and improve our indirect program and provide us with quarterly updates, as well as, current information regarding the automotive and finance industries.  We continue to use K & W to review any dealership that wishes to join our indirect program to ensure they meet our requirements.
  
  This program is an important and integral part of our lending operation and I am sure we would not be getting near the vehicle loan volume without it.
  
  Keith Eskridge
  SVP/Lending
  
  
• People First FCU - Assets $441 Million
  Allentown, PA
  
  

  In 2005 People First began searching for a partner to assist us in developing an Indirect Lending Program.  After speaking with several different providers we selected Koger & Williams to help us work with our local auto dealers to provide convenient financing to our members.

  Our indirect program has been very successful and is an integral part of our lending service.  This program allows us to attract new members, increase our loan portfolio, and provide instant loan approvals to our members at over 45 new and used dealerships in the Lehigh Valley area.

  I would highly recommend Koger & Williams to any credit union interested in developing their own indirect program.  Their extensive knowledge of the auto industry and financing trends, coupled with their product review and feedback have proven to be invaluable to the success of this program.
  
  Susan E. Phillips
  Vice President/CIO
  People First FCU
  
  
• Mutual Security CU - Assets $252 Million
  Wilton, CT
  
  We reviewed all alternatives concerning the development and implementation of our indirect lending program. We looked closely at third-party type programs; however, after careful consideration, we selected Koger & Williams Companies, LLC. Here's why:
  
  
  • We wanted full control of all aspects of our I/L program from load decisions to ultimate funding and especially with regard to setting our rates and terms to meet our objectives.
  • We wanted a customized program that met our loan needs and objectives
  • We wanted to build our brand equity in our market
  • We wanted an efficient operation that dealt direct with the dealers in our program
  • We wanted to own our program at the end of the agreement period and not rent an I/L program - forever.
  • Koger & Williams Companies has successfully established I/L programs in markets of all sizes and for credit unions of all sizes; they have the experience and expertise.
  
  If you are involved in an indirect lending program that is not performing to your expectations of if you have any questions - regarding the development and implementation of an indirect lending program for your credit union - we recommend that you consider discussing your questions with Koger & Williams Companies.
  
  Larry Holderman
  President/CEO
  Mutual Security Credit Union
  
  
• Augusta Metro FCU- Assets $74 Million
  Augusta, GA
  
  

  Augusta Metro Federal Credit Union implemented its Indirect Lending Program in June of 2010. The credit union was $56.5 million at the time and had a total loan portfolio ot $36.4 million. Loan growth had been stagnant for many years and we were in much need of increasing our loans and income.

  Our total loans have grown to $61 million and $35 million of that is our Indirect Lending portfolio. Assets are currently at $74 million and we are now operating with a 1% ROA.

  Much of this success is directly related to the relationship we developed with Koger & Williams. Riley Williams, Consultant, helped the credit union to prepare a business plan, policies and procedures and well as teach us how to maintain relationships with the auto dealers and their Finance Managers.

  We are very proud of our program and willing to share with other credit unions at any time. I wrote an articie for the Credit Union Times that was published in the April 11, 2012 issue. I am attaching a copy of the article as it completely sums up the success of the Indirect Lending Program and our partnership

  I would highly recommend to other credit unions that if you are getting into Indirect Lending, partner with Koger & Williams and I know you will be satistied with the outcome.
  
  Sherry Saxon
  President/CEO
  August Metro Federal Credit Union
  
  

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