Testimonials

• Commonwealth Credit Union - Assets 700 Million
  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 $3 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
  502-564-4661

• LOCKHEED - Georgia Employees' Federal Credit Union - Assets 565M
  In late 1999 and early 2000 the number of un-funded loans each month were 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.
  
  Currently after six months of operation we now have Twenty-four dealers in the program booking over $4,000,000 in new loans each month and have 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.
  Edwin J. Collins
  President/CEO
  Lockheed Employees' Federal Credit Union
  770-421-2600
  ecollins@gefcu.org

• Y-12 Federal Credit Union - Assets $450 Million
  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
  423-482-1043

• Park Community Federal Credit Union - Assets $350 Million
  Koger & Williams Companies has helped us set up our indirect program with our local dealerships two years ago.& Today we have relationships with over seventy (70) auto dealerships and averages $1,000,000+ in purchased contracts per month. We send out survey forms to each member who uses the service. Their responses have been extremely positive. They appreciate the convenience of getting their credit union loan at the dealers location. It is difficult to say how many deals we lost before we developed our indirect program.
  David T. Eib
  Vice President
  Park Federal Credit Union
  1.800.626.2870 Ext. 1101

• Diamond Credit Union - Assets $300 Million
  Diamond Credit Union has just completed its first 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
  610-326-5490   800-593-1000 Ext. 2022

• Kentucky Telco Federal Credit Union - Assets $250 Million
  When Koger & Williams first introduced indirect lending in Kentucky, we were one of the skeptics and delayed joining the program for about a year. Our skepticism proved to be completely unfounded. Since joining the in mid-1998 we have been most pleased with the relationship and the results. Koger & Williams Companies have done everything they promised and more. It has been one of the most effective, smooth running, well received programs we have ever offered our membership.
  
  Responses from our members regarding the program has been overwhelmingly positive. There is no question that we are getting auto loans we would not have gotten without the Indirect Program. We have consistently exceeded our goals.
  
  When there have been minor problems with dealers, Koger & Williams Companird has addressed them promptly and with positive results. I wholeheartedly endorse the program and recommend it to other credit unions.
  Harry E. Bellew
  President, CEO
  Kentucky Telco Federal Credit Union
  502-454-9218

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