SAFCO Unveils Modernized Brand to Champion "Credit Invisible" Consumer Credit Access and Data-Driven Innovation

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Aug 05, 2024, 15:47 ET

POMPANO BEACH, Fla., Aug. 5, 2024 /PRNewswire/ -- Southern Auto Finance Company, LLC ("SAFCO"), a financial services industry leader, proudly announces its rebranding initiative to expand credit access for all consumers, regardless of their credit history.

Research from the Consumer Financial Protection Bureau has found that approximately 26 million U.S. adults, or one in ten, lack a credit record and are "credit invisible." Additionally, another 19 million Americans have a credit record but no score because their history is too thin or out-of-date. These individuals often face significant barriers in accessing credit and securing favorable repayment terms.

"SAFCO's typical consumers often face barriers to mainstream auto financing from banks, credit unions, and other lenders due to no credit history or unconventional income sources," said George Fussell, CEO of SAFCO. The company's innovative approach to auto financing leverages an AI-powered platform which evaluates a comprehensive financial profile, including employment history, banking activities, and spending patterns. This assessment provides a clearer understanding of the consumer, creating opportunities for first-time buyers and individuals who may have been overlooked by traditional lenders. "At SAFCO, we believe in the power of potential. A buyer may still be invisible to credit, but not to us," continued Mr. Fussell.

This rebranding represents SAFCO's commitment to redefining credit and investing in bringing value to our dealers by expanding access to auto finance. By leveraging advanced technology and three decades of underwriting expertise, SAFCO empowers consumers to begin their credit-building journey with confidence.

About SAFCO

SAFCO is an industry-leading auto finance company built on the belief that credit alone should not measure potential. With headquarters in Pompano Beach, Florida, SAFCO has relationships with over 3,000 dealerships. Contact us today to learn how our advanced technology and expertise can boost your dealership's success.