SECU Board Promises Risk-based Lending Gives "A" Credit Score Members Best Rates !!!!

To: SECU Board of Directors

Dear Chairman Ayers,

Passed by several branches expecting to see "A"- paper members lined out the door to take advantage of your new risk-based  "as low as" A-paper 5.75% used car loan - no lines!? Checked with the call center - nope no surge, no nothing happening much!?! What's up with your new scheme? May need to crank up the Ad Campaign - March Madness ads don't cost anymore than Super Bowl ads, y'know.

On the other hand, did you know that today:

Bank of America website

Fixed rates
as low as

New car (dealer)

5.34% APR^{†scroll to new car example Disclaimer section}

Used car (dealer)

5.54% APR^{†scroll to old car example Disclaimer section}

Buy out your lease

6.14% APR^{†scroll to old car example Disclaimer section}

Rate as of February 28, 2023
for a 60-month term

 

 

"Ya reckon that the "A" paper folks aren't going to beat down your door "to take advantage" of SECU's higher used car rate - 5.75%, "while the SECU Board takes advantage" of all the B,C,D,E folks by charging even higher rates?!!!  

You really do think we're all - regardless of tier - not very bright, don't you!