American Southwest Credit

Ascu has successfully been in the indirect auto lending business for 18 years. However, due to encroaching out-of-state competition in the areas that the cu serves, ascu has turned its focus to a centralized lending model by concentrating on its existing membership. Cu sales specialists now sell all facets of a loan, including the refinancing of loans that its current membership may hold at other financial institutions. As a result, direct lending has now overtaken indirect lending volume as a major portion of the cu's balance sheet. The volume of vehicle loans (both direct and indirect) represents half of the entire loan portfolio. The greatest success of the program rests in the deep availability to our member-owners. These programs also benefit the consumer by providing an alternate lending source to dealer and bank financing. These consumers quickly find themselves credit union members who now have competitive rates of interest. Impeding competition, both locally and from nearby larger municipalities, has caused the credit union to focus on direct, centralized lending within its existing and potential membership base. While indirect auto lending remains a valuable service to all members, ascu is now concentrating on making direct loans through referrals, walk-in's, and direct mailings to targeted segments.

Ascu prides itself in promoting thrift to the community as well as its member-owners. Consistent market level deposit rates are available to all depositors large and small. Member-owners have a variety of avenues to move their money around, including direct deposit, payroll deduction, ach origination, wire transfers, person to person transfers, mobile banking and of course, home banking services and convenient locations for walk-in transactions. The more serious investors can take advantage of certificates of deposit, money market account programs, and iras.

Member business (commercial) lending is now a large representation of the credit union's balance sheet. Reputable local businesses and contractors now have a lending avenue that offers competitive rates and terms. Businesses enjoy having a local financial institution where the decisions are made here and not left up to a big-bank corporation. Since the program's inception in 2014, the credit union has experienced very little reportable delinquency and only three low-dollar charge-off's in its member business lending portfolio. Ascu was also fortunate to be able to provide ppp (payment protection program) loans to its business members. Mortgage lending also represents a sizable portion of the cu's balance sheet. Ascu's members benefit from competitive rates and the assurance knowing that their loan is held locally and not sold to a large bank where quality service may not be the focus.