Auto Financial Group (AFG), a source of residual-based financing and vehicle remarketing for financial institutions, announced recent partnerships with credit unions.

In the last quarter of 2019, AFG signed four new credit unions to the AFG Balloon Lending Program: Electro Savings Credit Union, Extra Credit Union, MAC Federal Credit Union and Awakon Federal Credit Union. The four credit unions represent combined assets of over $400 million and a reach increase of over 4.5 million consumers across three states. 

“We welcome these financial institutions to the growing AFG family,” said Richard Epley, CEO of AFG. “As has become evident in recent and extensive media coverage on vehicle affordability, borrowers are increasingly extending terms to manage their monthly payment even if it’s not in their best financial interest. These financial institutions, however, will now be able to provide a low monthly payment alternative with shorter terms to their borrowers through the AFG Balloon Lending Program.”