MOLINE, Ill. — Vibrant Credit Union said it has partnered with Manitou Group North America to provide equipment financing for consumers and small businesses purchasing Manitou and GEHL equipment, expanding the credit union’s growing portfolio of manufacturer lending relationships.
According to reporting by Quad Cities Business, the Moline-based credit union will offer financing programs designed to support Manitou and GEHL dealers with consumer lending options aimed at streamlining equipment purchases in the construction and agriculture sectors.
The partnership adds Manitou Group North America to Vibrant’s existing original equipment manufacturer (OEM) relationships with Yanmar, Wacker Neuson and McCormick, further expanding the credit union’s presence in the equipment finance market, the publication reported.
‘Long-Term Growth’
“Together with Manitou Group North America, we’re building a consumer lending platform designed to support long-term growth, drive dealer success, and keep deals moving,” Cale VanGenderen, senior vice president of loan programs at Vibrant Credit Union, said in a statement reported by Quad Cities Business.
VanGenderen said the financing platform is intended to help Manitou and GEHL dealers reduce obstacles in the purchasing process and close more sales by providing flexible financing options.
Manitou Group, which operates in more than 140 countries, manufactures equipment for the construction, agriculture and industrial markets. The partnership expands Vibrant’s network of equipment manufacturers and is expected to strengthen financing support for dealers, according to the report.
Part of Broader Strategy
Quad Cities Business reported that the agreement is part of Vibrant’s broader strategy to expand its equipment lending division through partnerships with manufacturers, dealers and customers. The credit union said its financing programs are designed to simplify the lending process so dealers can focus on equipment sales rather than financing complexities.
