GTE brings first credit union-backed auto ABS

By Jennifer Kang
18 Nov 2019

Florida credit union GTE has priced what market participants expect to be the first of many auto securitizations from the credit union sector as ABS funding costs remain attractive.

Founded in 1935, GTE is a not-for-profit federal credit union that provides deposit and lending services to its members, most of whom reside in Tampa.

Its first auto ABS transaction is backed by a pool of prime and near-prime auto loans that it originated itself. The class 'A-MM' ...

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