![]() ![]() Fenton provided the vision and execution for this philosophy, working to position Affinity as an industry-leader and a trusted partner for its members and community. We are confident in his vision for Affinity’s future and are thrilled to appoint him to this role."Īffinity seeks to improve the financial wellbeing of its members and the communities it serves. "He is committed to Affinity’s mission of supporting the financial wellbeing of its members and has been instrumental in developing the philosophy, services and impact that will continue to fuel our organization, as well as better support the communities we serve. "Kevin is a long-tenured, well-respected and highly regarded member of the Affinity leadership team," said Richard Meene, Chairman of Affinity’s Board of Directors. ![]() Fenton has served as Affinity’s CEO for over 27 years and led the organization’s growth as the largest credit union headquartered in the state of New Jersey. Brauer is the current Chief Administrative and Financial Officer at Affinity and will succeed the current CEO/President, John Fenton. We have no doubt that Affinity, with its focus on serving the needs of its members, will prove to be one of our most successful partners,” Chandler concluded.Brauer succeeds current CEO John Fenton and will continue to advance Affinity’s financial wellbeing initiatives and member-centric missionīASKING RIDGE, N.J., October 31, 2022-( BUSINESS WIRE)- Affinity Federal Credit Union (Affinity), a member-based, federally insured, full-service financial institution, has appointed Kevin Brauer as its new Chief Executive Officer (CEO)/President. ![]() “It is so gratifying to see our credit union partners achieving such impressive results as they help their members into vehicles in the current economic climate. The company has nearly tripled its portfolio in five years to $5 billion and currently offers leasing through credit unions in 20 states. Our program is designed to enhance membership and yield, while helping to diversify service portfolios,” Chandler continued.ĬULA, working with its credit union partners, originated 50,000 leases worth $2 billion in 2021, a single year record.ĭuring the first six months of 2022, CULA said it has already grown by 50% year-over-year, and is on pace to see even better results for the full year. ![]() “There is a significant opportunity for credit unions who offer vehicle leasing in the current economic climate, and we are pleased to help Affinity meet this moment. “New Jersey is one of the most important vehicle-leasing markets in the U.S., and we are proud to further expand our credit union reach in New Jersey - as well as in New York and Pennsylvania - with the forward-thinking team at Affinity,”, CULA’s vice president of business development Mark Chandler said in the news release. The new CULA Plus Program handles even more of the lease end responsibilities and will allow for an efficient, streamlined and positive experience for our team, while boosting the member experience,” said Marisa Manning, who is indirect operations manager at Affinity.Īccording to Experian’s State of the Automotive Finance Market, credit unions amassed 22.06% of the total auto finance market during the first quarter, up from 18.55% year-over-year. “Our partnership provides direct benefit to our members and team members, alike. We’re excited to extend this new offering to our members and dealer partners,” Metz continued.ĬULA offers an analytically driven, high-value leasing program and handles the intricacies of leasing for its clients, including analytics, insurance, operations, compliance and more. “CULA is an industry leader and shares our commitment to superior member service. “We recognize that car ownership is increasingly difficult in today’s climate, with record-high prices and low inventories presenting heightened challenges for interested buyers. “Affinity’s mission is to support our members’ financial well-being and to work closely with them to achieve their financial goals,” Affinity senior vice president of lending Kathleen Metz said in a news release. Affinity ranks in the top 2% of all credit unions in the U.S., according to data compiled by the National Credit Union Administration, and has more than 20 branches in New Jersey, New York and Connecticut. ![]()
0 Comments
Leave a Reply. |