Security Service Federal Credit Union, Toyota Financial Services, Mercedes-Benz Financial Services, DriverUp, and the National Automotive Finance Association were recognized for achievement in the auto finance sector at a special ceremony at the Auto Finance Summit on Thursday.
SSFCU took home an award for overall performance in the prime sector, while TFS won for its performance in the subprime space. TFS won a second award for innovation in socially responsible funding. The latter award recognized the captive’s involvement in “green bond” issuances.
TFS issued its first “green bonds” — aimed at funding loans for hybrids or alternative-fuel vehicles — last year. The issuance was the first of its kind in the auto industry, the company said.
Auto finance startup DriverUp received an award for innovation in the industry. MBFS was recognized for commitment to volunteering initiatives, and the NAF Association received an award for its efforts in compliance training.
Auto Finance Excellence Awards are based on nominations from AFN readers; they are also presented to companies that score highest in the Auto Finance Performance ranking, an initiative to quantify
lender performance in the eyes of their dealer-clients.