First Community Closes Record 100 Million in Auto Loans During July

The much-publicized rate increases by the Federal Reserve have not adversely impacted auto lending at First Community. During the month of July, First Community originated over 100 million dollars in consumer vehicle loans. First Community is always among the top auto lenders in the area but this was their highest volume month ever.  “Auto loans have always been what we do best.” said Glenn D. Barks, President & CEO.  “Over the last 20 years we have built a robust indirect dealer network here in St. Louis while continuing to close a high volume of loans directly, in-house. I’m not going to say we will always have the lowest rate but we do have some great rates and we do everything we can to keep our rates highly competitive. It’s what our members expect from us”.