Associated Bank Auto Finance launches indirect auto lending service in 16 states

Rhea-AI Summary

Associated Banc-Corp (NYSE: ASB) announced the launch of Associated Bank Auto Finance, an indirect auto lending service available through eligible dealerships in 13 states, including Michigan, Indiana, and New York, with a planned expansion to Wisconsin, Minnesota, and Illinois in 2022. The service will be led by Craig Stickney, bringing a team with over 100 years of combined experience. This initiative aims to enhance consumer financing options, offering service 362 days a year.

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• Launch of Associated Bank Auto Finance enhances consumer financing options.
• Experienced leadership team with over 100 years of combined industry experience.
• Service available 362 days a year, improving accessibility.

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• None.

GREEN BAY, Wis., Oct. 12, 2021 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB), a leading Midwest banking franchise, announced an expansion of its consumer loan offerings to include Associated Bank Auto Finance, an indirect auto lending channel available through eligible franchised and select independent automobile dealerships which will offer financing to customers purchasing a new or used vehicle.

Initially, Associated Bank Auto Finance will be available to qualifying automobile dealerships in thirteen states including Michigan, Indiana, Ohio, New York, Pennsylvania, New Jersey, Delaware, Connecticut, Massachusetts, Rhode Island, Vermont, New Hampshire and Maine. A second phase is planned for early 2022 which will add Associated Bank's three footprint states of Wisconsin, Minnesota and Illinois.   

Associated Bank Auto Finance will be led by Craig Stickney who comes to Associated with decades of experience in the space. Most recently, Stickney headed dealer finance at KeyBank and is bringing the majority of that team to Associated Bank to launch the indirect auto lending channel.

"We are proud to welcome a core group of over 40 highly experienced colleagues and a leadership team with over 100+ years' industry experience and existing dealer relationships who will run the business line," said Tom Faughnan, executive vice president, director of consumer lending, Associated Bank. "Our team of auto financing professionals has extensive local market knowledge to meet dealers' unique needs in a personal, professional and efficient manner." 

Associated Bank Auto Finance will be available 362 days per year including Saturdays, Sundays and most holidays.

For more information, visit https://www.associatedbank.com/autofinance or call 800-236-3294. 

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $34 billion and is Wisconsin's largest bank holding company. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 220 banking locations serving more than 120 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

Contact: Jennifer Kaminski
Vice President | Public Relations Senior Manager
920-491-7576 | Jennifer.Kaminski@associatedbank.com

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SOURCE Associated Banc-Corp

FAQ

What is Associated Bank Auto Finance's new indirect auto lending service?

Associated Bank Auto Finance offers financing for customers purchasing new or used vehicles through eligible dealerships.

In which states is Associated Bank Auto Finance initially available?

It is available in Michigan, Indiana, Ohio, New York, Pennsylvania, New Jersey, Delaware, Connecticut, Massachusetts, Rhode Island, Vermont, New Hampshire, and Maine.

When will Associated Bank Auto Finance expand to additional states?

The service plans to expand to Wisconsin, Minnesota, and Illinois in early 2022.

Who is leading the Associated Bank Auto Finance initiative?

The initiative is led by Craig Stickney, who has extensive experience in dealer finance.

How many days a year will the auto finance service be operational?

The service will be available 362 days a year.