Powersports lender ThunderRoad Financial partnered with Georgia’s Own Credit Union in May, and the alliance has led to a 25% increase in origination month over month, President and Chief Executive Donal Hummer Jr. told Powersports Finance.
“That has been a really successful program for us in the southeast,” Hummer said. “It allows us to buy much larger volumes, have a quicker turnaround for the dealers, and that is a great market in those five states (Georgia, Florida, Alabama, North Carolina, and South Carolina).”
The partnership with Georgia’s Own allowed ThunderRoad to gain a foothold in territories with a large powersports market and buy more volume than it otherwise could on its own. By activating dealers that Thunderroad had on the waiting list prior to the partnership, the lender was able to grow its business during the spring and summer season.
This was the Reno, Nev.-based dealerships first partnership with a credit union and it’s looking to expand the program “within the next quarter or two,” Hummer added.