The Credit Union Loan Source (CULS) is based in Georgia and it is owned by a group of credit unions. Credit unions play various roles to the consumers in the areas in which they will be operating in. The CULS for instance was formed to offer indirect services in the automobile sector through partnerships with other actors in this field. The types of credits that are sought by different customers fall into broad categories and in order to align them to each category, specialty organizations like CULS need to be formed. These specifically oversee the operations of a certain financial service sector and ensure that the needs of the targeted clients are fulfilled.
Purpose of CULS
In this regard, it can be seen that CULS specifically deals with funding vehicle loans and it also offers loan servicing to selected partners. The partners can access vehicle loans through their respective unions which make it easy for them to access loans compared to general yahoo lending by other financial institutions. This means that the participants are represented by their respective unions. This also entails that the participating unions in CULS have a greater access to broad business compared to direct lending. In other words, the participating unions are operating under this umbrella body which gives them opportunities to have access to large business deals.
Functions of CULS
The other notable aspect about CULS is that it is responsible for setting standards and measures that guide the operations of organizations that deal with credit issues in a specific business area. For instance, the organization specializes in financing motor vehicle loans and it is also responsible for setting up a board that oversees the operations of the other unions in this particular sector. The aim of this board is to ensure that the standard expectations of all the players in this field are met so that the customer needs are not compromised. It is the responsibility of the organization to set the framework upon which all interested business partners should comply with in their operations.
Complaints handling by CULS
The other remarkable aspect about CULS is that it is also responsible for handling customer complaints and other issues that can impact on their business. The customers are likely to encounter different issues in their bid to access vehicle 401k loans. In cases where they are not happy about the quality of the services they get from the union partners, then they can approach the authorities at CULS who have the responsibility of enforcing the policy framework that guides the operations of the organization. The customers can also approach the organization so that their disputes are solved in an amicable way. In other words, CULS is mainly concerned with ensuring that professional practicing standards are upheld by all unions that specialize in offering loan facilities to different clients in their respective area of operation. This makes the organization credible in dealing with issues that are also meant to ensure that the interests of the customers are protected. Some organizations are bent on reaping off the unsuspecting clients and this is the reason why CULS is viewed as an authentic body in addressing customer issues.