01/29/2015
Citizens Financial Group announces new name for Auto Finance group
Change to Citizens One Auto Finance follows the launch of a new origination platform enabling indirect automobile lending to “prime” borrowers
PROVIDENCE, R.I. – Citizens Financial Group, Inc. (NYSE: CFG) today announced a new name for its auto finance group: Citizens One Auto Finance. The new name reflects Citizens’ rebranding strategy and transition to prime indirect auto lending utilizing a new origination, underwriting and processing platform to help dealers provide more financing options to a larger cross-section of customers.
Citizens One Auto Finance has been providing car dealers with lending services for more than 35 years. The company has been strategically expanding its footprint and now operates in 43 states, up from 23 in 2010. Citizens also has grown its dealer base to approximately 6,700 dealers, a 33 percent increase since the start of 2013. Recent investments in technology also have enabled Citizens to provide indirect auto loans to “prime” borrowers in addition to “super-prime” borrowers who previously had been the focus of its auto finance business.
“Consumer confidence is climbing and Americans are buying cars at rates we haven’t seen in a number of years,” said Brendan Coughlin, president of Automobile Finance. “As dealers see more volume, our strategy is to be their primary lending partner, offering great service to their customers and strong underwriting, sales and dealer support.”
Previously known as RBS Citizens Auto Finance, Citizens’ Auto Finance business is adopting the Citizens One brand as part of a broader transition for the company. Last year, Citizens announced plans to anchor all of its brands under a unified strategy. As part of that, Citizens will rebrand more than 200 Charter One branches in Michigan and Ohio as Citizens Bank by mid-year. The bank’s Commercial Banking division transitioned to Citizens Commercial Banking in the fourth quarter of last year.
To learn more about Citizens One Auto Finance, please call 1-800-610-7300.To learn more about Citizens Bank, customers can call the 24/7 customer contact center at 1-800-922-9999, Like the bank on Facebook, follow the bank on Twitter or visit the Citizens Bank website.
About Citizens Financial Group, Inc.
Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $132.9 billion in assets as of December 31, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
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