This year has been a time of upheaval for individuals, businesses, and financial institutions. As the country begins to recover from the financial fallout over the coronavirus pandemic, consumer confidence is suffering. With MPOWER+ Vehicle Return Protection, your financial institution can offer borrowers a much-needed sense of financial security during troubled times. You’ll simultaneously attract additional loan volume for your institution and enhance borrower loyalty by being there for them when they need it most.
The first and only program of its kind, MPOWER+ Vehicle Return Protection gives your borrowers the peace of mind that if they run into hard times, they can return their vehicle and walk away from their loan while keeping their savings accounts and credit rating intact. Offering this option to your borrowers can help increase confidence in their long-term financial security and will encourage them to build a long-lasting relationship with your institution, allowing you to enhance your risk management efforts while increasing borrower loyalty and generating non-interest income for your financial institution.