Changing habits, changing markets—protect yourself in a shifting financial world
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Consumer habits are changing. Inflation, the continued effects of the pandemic and changes in what consumers value are contributing to these new behaviors in ways big and small.
Secured lines of credit and personal loans are on the rise, while the ability for the average person to save is falling thanks to rising prices. These developments are affecting all walks of life and the consumer experience. Take the very real issues facing the auto industry.
If you’re an auto owner, you’ve likely received a query from a local dealer about potentially purchasing your car, perhaps for a substantially higher price than you might otherwise expect. If you’re in the market for a new automobile, you’ve likely noticed that many models are either difficult or outright impossible to find. Add inflation into product shortages and once car values return to normal, many people buying in this market will find themselves upside down—owing more than what the vehicle is worth—once the market corrects itself.
In this climate, supplemental insurance offers a tremendous value for members, and far beyond auto loan protections. Things like GAP (Guaranteed Asset Protection) service, credit disability protection and credit life protection can help protect members from both unforeseen circumstances and market forces beyond their control.
“With our low loan rates and the ancillary products which offer help when members need it, I’m delighted we’re able to live our mission and help members become better financial stewards,” said Mary Pollard, Vice President of Consumer Lending.
As always, Ascend is here to help. Contact us at 800-342-3086 or visit our loans page to see how you can protect yourself, your assets and your future. And you can always visit any of our 27 Middle Tennessee branches to sit down with an Ascend Financial Services officer to map out your financial future.