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TRUITY CREDIT UNION - AUTO LOANS · One on One With a Professional

0:01
Speaker 1: Good oneing, good morning, good morning, welcome, welcome, welcome time
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Speaker 1: for two one one with the pro that's because we've
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Speaker 1: got our friends Handfra, Truity Credit Union, and today we've
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Speaker 1: got a lot to a lot of ground. Can I
0:13
Speaker 1: we re introduce yourselves kids? I think we got Stephen
0:15
Speaker 1: and Laura here today, right, yes, all righty, very good.
0:19
Speaker 1: Stephen is vice president Consumer Lending and Laura is this
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Speaker 1: isn't vice president of Consumer Lending. So I guess we're
0:27
Speaker 1: going to be talking about how all this works in
0:29
Speaker 1: order to make your dreams come true. Huh right, Well,
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Speaker 1: first of all, how of the current economic conditions change
0:38
Speaker 1: the way that people are going about buying their vehicles.
0:42
Speaker 1: Transportation is a big need, and credit unions say, how
0:46
Speaker 1: do you go about with the EU autolas?
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Speaker 2: What's that like? So a couple of months ago everybody
0:51
Speaker 2: started to get concerned about the tariffs and what's that
0:53
Speaker 2: in due to the pressing at automobiles. So there was
0:57
Speaker 2: a big push in like the March timeframe. A lot
1:00
Speaker 2: of people started to buy in their vehicles earlier than
1:03
Speaker 2: they thought they were going to, so it kind of
1:04
Speaker 2: pulled pulled things forward to all the people that were
1:07
Speaker 2: going to buy later in the year bottom before the
1:10
Speaker 2: tariffs might implement. So there was kind of this little
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Speaker 2: peak rush of all all kinds of activity early in
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Speaker 2: the year, and now we've kind of kind of tapered
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Speaker 2: back down a little bit. The tariffs have not really
1:22
Speaker 2: necessarily they haven't affected the prices that much. It's been
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Speaker 2: a little bit. They keep getting kicked down the road,
1:30
Speaker 2: so we don't really know for sure exactly when they're
1:32
Speaker 2: going to get kicked you know, get kicked in. But
1:34
Speaker 2: what it is happening is that is causing people that
1:40
Speaker 2: are out there buying vehicles have to pay a little
1:42
Speaker 2: more for a vehicle new, but not only for the
1:45
Speaker 2: new ones. That also increased the price of the used autos.
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Speaker 2: So what we had to do as a lending institution,
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Speaker 2: we had to be able to be able to loan
1:55
Speaker 2: more on a unit that is, you know, maybe worth
1:58
Speaker 2: the same amount or less us but we're having to
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Speaker 2: actually go over the value in some cases, and we
2:04
Speaker 2: as a credit union, are willing to do that for
2:06
Speaker 2: our members when that when that is necessary.
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Speaker 1: Lauria, and what do you You got a little crystal
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Speaker 1: ball there, you see any time where this.
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Speaker 2: Is going to change.
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Speaker 3: No, I don't manage the crystal ball on that one.
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Speaker 3: And I think, you know, ever since everyone's favorite word COVID,
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Speaker 3: we've just seen a lot of ebb and flows and
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Speaker 3: you know, it's like a controlled volatility. I feel like
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Speaker 3: it's kind of mildly tame volatility, but you just you
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Speaker 3: just see, and I think that's part of the nature
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Speaker 3: of the beast in the auto industry, especially when you
2:35
Speaker 3: you know loop and manufacturers, dealers, you know, consumers. There's
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Speaker 3: a lot of different facets to that. That just it's
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Speaker 3: kind of ebbs and flows.
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Speaker 1: So whether it was supply chain or I might be
2:47
Speaker 1: tiffing you, you got, like you said, you got your
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Speaker 1: highs and lows, your peaks and valleys. But it's been
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Speaker 1: kind of within a range. So controlled chaos.
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Speaker 4: Yes, control chaos. It's a good term.
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Speaker 1: Oh my goodness. So what kind of loan options are
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Speaker 1: available with the truity for your auto?
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Speaker 3: Yeah, so for auto loans, we can do any type
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Speaker 3: of auto loan transaction. We do national lending for you know,
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Speaker 3: all of our loans. So if you want to buy
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Speaker 3: from a dealership, if you want to buy from a
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Speaker 3: private seller, we can do refinances. We can do cash
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Speaker 3: out on a vehicle. So a lot of times we'll
3:24
Speaker 3: see people who own a vehicle outright and right now,
3:26
Speaker 3: we've seen a lot of escalation with unsecured or credit
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Speaker 3: card debts, so they'll do a loan against their vehicle
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Speaker 3: for that debt consolidation. So any any needs you have,
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Speaker 3: we will look at it through every lending lens that
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Speaker 3: we offer figure out what's the best solution for that
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Speaker 3: particular members needs.
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Speaker 4: But auto loans give us a lot of flexibility.
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Speaker 1: So Steve, but I'm going to ask you this, how
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Speaker 1: hard is it to apply for a loan?
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Speaker 2: It's it. We make it as simple as possible.
3:51
Speaker 1: I would got to bet the farm on that.
3:53
Speaker 2: We we try our darness to make it simple. You
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Speaker 2: can walk in in person, you could apply online, you
3:59
Speaker 2: could apply through your banking app if you're already a
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Speaker 2: member with the credit union. That's handy and the last
4:04
Speaker 2: but not least if lots of times it's sad, but
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Speaker 2: buying an auto is an impulse buy in several cases.
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Speaker 2: So you finished eating lunch on Saturday and you're driving
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Speaker 2: by and you see that nice shiny vehicle over there.
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Speaker 2: It's like you can literally just go to the dealer
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Speaker 2: and make the transaction happen right there and still have
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Speaker 2: the loan with truity. So we make it as simple
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Speaker 2: as possible.
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Speaker 1: All right. I like that you take the hard part out,
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Speaker 1: especially when I get impulsive.
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Speaker 2: I like that.
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Speaker 1: What's it like getting pre approved to help someone shop
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Speaker 1: for a car?
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Speaker 3: Pre approval processes are very easy, especially with Trudy. Like
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Speaker 3: Stephen said in person, you can call us. The one
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Speaker 3: we encourage most is just apply online and we'll give
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Speaker 3: you a pre approval or what we consider a credit approval,
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Speaker 3: and it simply tells you how much kind of what
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Speaker 3: your buying power is, so that way you're equipped with
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Speaker 3: your maximum financing amount. You can look at vehicles within
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Speaker 3: that range, so you're not putting yourself in a financial burden.
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Speaker 4: And as Stephen said, you can go close those loans
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Speaker 4: at the dealership.
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Speaker 3: We we can actually start your pre approval in house,
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Speaker 3: and we will set it up to where you can
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Speaker 3: walk into one.
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Speaker 4: Of our preferred dealer partners.
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Speaker 3: We have lots of those, especially in the bartlesoil community,
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Speaker 3: and you just give them your name and social and
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Speaker 3: they can pick up that pre approval you. It saves
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Speaker 3: a lot of paperwork, a lot of time at the dealership,
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Speaker 3: but really streamlines that process for the members.
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Speaker 1: Now I saw a fella get he was pre approved.
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Speaker 1: Honest to goodness story a long time ago, I was
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Speaker 1: doing a live broadcast from a car dealership. Fellow walked
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Speaker 1: in and yeah, he said, I'll take take one of
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Speaker 1: those and the most expensive vehicle they had. The guy
5:48
Speaker 1: looked like he just came in for fishing, and he said,
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Speaker 1: go ahead, call my bank. So the guy called the bank,
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Speaker 1: and the bank says, well, what's he want? One car
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Speaker 1: or a fleet? They said, well, what do you mean?
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Speaker 1: He's good to go either way. He's preapproved, but you
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Speaker 1: can have that one, sir.
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Speaker 2: Here we go.
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Speaker 1: It worked out really really well, really easy, really fast.
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Speaker 1: You want to talk about your impulse by he had
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Speaker 1: that pre approval just in case he had the impulse.
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Speaker 1: But I don't think everybody works that way. What are
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Speaker 1: the perks of getting an auto loan through Truity?
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Speaker 2: So obviously the perks that we like to brag about
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Speaker 2: the most we've already talked about is how easy we
6:27
Speaker 2: make it. We try to have some of the best
6:29
Speaker 2: rates available out there. It's one thing as a credit
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Speaker 2: union versus the bank. We typically try to give back
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Speaker 2: to our members as much as possible, so we typically
6:42
Speaker 2: have a slightly better rate the other one. Laura kind
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Speaker 2: of already mentioned that we work with the local dealers.
6:47
Speaker 2: We work with the dealers. Here in Barblesville we work
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Speaker 2: with the dealers, and Tulsa we work with the dealers.
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Speaker 2: If you go up to Independence, Kansas, it doesn't matter
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Speaker 2: where they are. All those dealers are connected with Truity
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Speaker 2: and you can still have your loan through Truity no
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Speaker 2: matter which dealer you go to, they all have the
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Speaker 2: capability to send that loan to us, So we try
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Speaker 2: to make it very simple.
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Speaker 4: You like, go ahead, pickyback on steven.
7:12
Speaker 3: So you know, one of the really nice benefits that
7:15
Speaker 3: Truity has is we have our Auto Smart site. So
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Speaker 3: if you go to our Truty website, you can shop
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Speaker 3: for cars and it'll pool a list of the inventory
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Speaker 3: for our preferred dealers. So especially people their first vehicle
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Speaker 3: or maybe they've just had a bad experience buying a vehicle,
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Speaker 3: because that unfortunately can happen, we make that even more enhanced,
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Speaker 3: so we get you pre approved. Then we direct you
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Speaker 3: to a site that shows inventory for all of our
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Speaker 3: dealer partners, so you know that you're buying a vehicle
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Speaker 3: from someone that we regularly do business with.
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Speaker 4: It is a trusted partner.
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Speaker 3: If there's issues, you know we can intercede if necessary.
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Speaker 3: But we have such great relationships with them and they
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Speaker 3: know the way Truthy does business and they do take
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Speaker 3: care of our members. So we're really proud of those relationships.
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Speaker 1: That website exists. I did not know that, you see,
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Speaker 1: I learned. I've been with Truity for six years and
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Speaker 1: I learned something new every time you guys come in.
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Speaker 2: Just to continue adding to the perks. Obviously, like I said,
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Speaker 2: the price is a great perk, but one of the
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Speaker 2: best perkoses you're a member now of true and we
8:18
Speaker 2: try to make you a member for a life. It
8:19
Speaker 2: doesn't matter where you go, we will take care of you.
8:22
Speaker 2: Once you have your membership established, you're eligible for checking accounts,
8:27
Speaker 2: you can open up savings accounts, you can do any
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Speaker 2: type of loan. We offer mortgage loans. We have every
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Speaker 2: financial possibility out there. We can offer it to you
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Speaker 2: once you remember.
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Speaker 1: My goodness, you just make it so easy. And one
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Speaker 1: thing I like is that it's our hometown Credit Union. Yeah,
8:45
Speaker 1: and I tell this to every employee Truity whenever I
8:49
Speaker 1: says you, folks are everywhere because whether it's at by
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Speaker 1: kids Evan at school, or if it's a community event
8:57
Speaker 1: or there's always somebody there from Truity and they're either
9:01
Speaker 1: pitching in being a volunteer, or they're helping out, or
9:03
Speaker 1: they're just enjoying it just like USh. So it really
9:06
Speaker 1: makes you feel like you're not only working with friends,
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Speaker 1: but also with family too.
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Speaker 4: Yeah.
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Speaker 3: And well, into that, you know, kind of hometown aspect.
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Speaker 3: Everything we do is local right here in Bartlesville. So
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Speaker 3: when that application comes in, our underwriting is local. The
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Speaker 3: funders that process your application and get that loan closed
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Speaker 3: for you are our local. If you have an issue
9:28
Speaker 3: you're making payments, our servicing team is local. So it's
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Speaker 3: all right here in Bartlesville, you know. And we understand
9:35
Speaker 3: the power of community and that's why we're so invested
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Speaker 3: in giving back and serving those that live here.
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Speaker 4: So it's it's a great blend.
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Speaker 1: No New York City, huh.
9:44
Speaker 2: Well. One of our one thing that the Truity really
9:48
Speaker 2: pushes down to all employees is be a good corporate citizen.
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Speaker 2: And we try our darnedness to be out everywhere and
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Speaker 2: get people to volunteer as much as possible.
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Speaker 1: Well it works because I see everywhere. That's a good thing.
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Speaker 1: It makes me feel like I'm in a good company,
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Speaker 1: you know. So when it comes to vehicle protection, what
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Speaker 1: options do you provide?
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Speaker 3: So we have all the solutions that you can find
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Speaker 3: at a dealership. Truty also offers those in how so
10:15
Speaker 3: total loss protection. We understand that life happens. We're in
10:19
Speaker 3: the Midwest, there's hail, there's storms, there's you know, things.
10:23
Speaker 4: Of that nature. So we have total loss protection. And
10:25
Speaker 4: in the event that you do.
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Speaker 3: Have a total loss, we have solutions that will either
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Speaker 3: protect your equity or it'll keep you from being upside
10:32
Speaker 3: down on a loan balance for a vehicle you no
10:35
Speaker 3: longer have possession of. We have other protections such as
10:39
Speaker 3: mechanical repair coverage. That way, if you have a mechanical malfunction,
10:45
Speaker 3: we've got you covered there. Not everyone, especially right now,
10:48
Speaker 3: has an extra twenty five hundred sitting around if their
10:51
Speaker 3: transmission goes out.
10:52
Speaker 4: But we have.
10:53
Speaker 3: Solutions that protects the electronic components, and we also have
10:57
Speaker 3: what we call depth protection. It is kind of that
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Speaker 3: life event protection, so somewhere to pass if you are
11:03
Speaker 3: unable to work, if you have some type of medical
11:08
Speaker 3: condition something like that, some of those coverages will actually
11:12
Speaker 3: protect and either pay off the loan or cover payments.
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Speaker 3: So we have a lot of variety of protection.
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Speaker 4: Options and it just depends.
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Speaker 3: On what makes sense for your life, for your family situation,
11:22
Speaker 3: and your financial need.
11:23
Speaker 4: But we've got it all.
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Speaker 1: My goodness sakes, Stephen, that's a lot to be in
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Speaker 1: charge of.
11:30
Speaker 2: Well, that's what I mean. The reason for one of
11:33
Speaker 2: the main reasons for the Credit Union is to help
11:35
Speaker 2: the people. And the thing that we do best is loans.
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Speaker 2: That's everything we do is all about loaning out. When
11:41
Speaker 2: people have a need, we want to be able to
11:43
Speaker 2: give you a loan, and we love auto loans. It's
11:49
Speaker 2: we love mortgage loans. And that's what we want to
11:51
Speaker 2: do is put our money back out my community.
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Speaker 1: Well, that's great, and you do such a great job
11:56
Speaker 1: of it too. It's really nice to know that your
12:00
Speaker 1: Solution headquarters is right here in Bartleswell.
12:04
Speaker 2: And we're all right here local you.
12:05
Speaker 1: Yeah, you're not getting shipped out to California or New York.
12:08
Speaker 1: You're going to take it right here in town, and
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Speaker 1: it's with people you know and people you trust, and
12:13
Speaker 1: that makes a lot of difference to to folks, It
12:16
Speaker 1: really does. And you know, thanks for.
12:18
Speaker 2: Taking care of us.
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Speaker 4: We're happy to do so happy to.
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Speaker 1: Do it now. Some of these things that you were
12:24
Speaker 1: talking about, like the vehicle protections, I wasn't even aware
12:29
Speaker 1: that my credit union could even do that, let alone
12:33
Speaker 1: have been doing it for a while.
12:34
Speaker 3: Yeah, we try to come up with a lot of
12:36
Speaker 3: innovative solutions, just like I said, to meet every members
12:39
Speaker 3: need wherever they're at. You go through various seasons of life,
12:43
Speaker 3: and we want to be able to serve everyone at
12:46
Speaker 3: every season. One of the things we haven't mentioned is
12:48
Speaker 3: we actually have our auto advantage program, So we see
12:52
Speaker 3: some borrowers that are a little bit more limited in
12:55
Speaker 3: credit or honestly, they had something happen with life and
12:58
Speaker 3: they need to rebuild their credit. It's not as clean
13:00
Speaker 3: as it used to be. We do have a supplementary
13:04
Speaker 3: program so we can really try to qualify borrowers to
13:07
Speaker 3: get that vehicle because we understand how important that transportation
13:10
Speaker 3: need is.
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Speaker 1: Well, you're doing such a great job on reaching everybody,
13:14
Speaker 1: not just to select few, and I think that makes
13:17
Speaker 1: everybody feel a lot more secure.
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Speaker 2: Yeah, and Laura mentioned it earlier. It's like we don't
13:23
Speaker 2: have members just here locally. We have members literally all
13:27
Speaker 2: over the United States. We have international members. Like I said,
13:30
Speaker 2: you get an account with us, your your member for life.
13:34
Speaker 2: It doesn't matter where you live. You can still we
13:36
Speaker 2: can still handle whatever your needs are in life.
13:39
Speaker 1: What is that website? I've been hearing fantastic things.
13:42
Speaker 3: About it, So, Trudy, seu dot org is our website.
13:46
Speaker 3: You do a forward splash loans that'll get you to
13:48
Speaker 3: our landing page for all of our consumer loan options.
13:51
Speaker 1: I was kidding because I know what the I know
13:53
Speaker 1: what the page is because I've been there. Whoever created
13:56
Speaker 1: that did a great job, because even a guy my
13:58
Speaker 1: age and with my limited scope technology and technological skills
14:02
Speaker 1: can navigate it like a pro. Much And that little
14:05
Speaker 1: do hicky, what.
14:06
Speaker 2: Do you call that? It's an app? Yeah, I have
14:09
Speaker 2: that too. I can work that out in just like
14:11
Speaker 2: a pro.
14:12
Speaker 3: And you can apply through through your app for a
14:15
Speaker 3: loan too, So.
14:16
Speaker 4: Marvelous at your fingertips.
14:18
Speaker 1: There you go.
14:19
Speaker 2: You know, they're a perfect example. We try to make
14:20
Speaker 2: it easy We've got a great marketing and e commerce team,
14:23
Speaker 2: and they try to have all the tools that any
14:25
Speaker 2: of the giant, most giant bank in the US has,
14:28
Speaker 2: We've got them. Also, we try to take care of
14:30
Speaker 2: our members.
14:31
Speaker 1: Well, I got to tell you, Lauren Stephen, thank you
14:33
Speaker 1: for dropping by today and thanks for making a lot
14:36
Speaker 1: of folks feel a lot better about themselves and a
14:38
Speaker 1: lot of better about their chances of perhaps purchasing that
14:41
Speaker 1: new auto or a different auto that's going to fit
14:43
Speaker 1: their budget.
14:44
Speaker 4: Well, thank you for having us, Thank.
14:45
Speaker 1: You very much for being with this truity.
14:50
Speaker 2: Thanks for listening to one on one of the professional
14:53
Speaker 2: a paid presentation at fourteen hundred K one
14:58
Speaker 4: Better hearing starts at a ANS tier