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KALAMAZOO - National City is harnessing more than 50 years of experience in marine and recreational vehicle financing to grow its recreation finance division nationwide.
The bank's plan is to boost annual originations of marine and RV financing from $1 billion to $4 billion over the next five years.
"This year we put in place a five-year plan where we will go from the No. 5 lender in the United States in the recreation finance area to the No. 1 lender," said Eric Giering, division manager, who recently transferred from Grand Rapids.
"Right now in the Midwest, we are No.. 1. We want to expand it to a major role nationally."
As part of the effort, the company created an inside sales team, a Dealer Support Service Center and a core underwriting group dedicated solely to marine and RV dealers.
Giering said his office has seen a steady increase in business in the five months since it announced the division's expansion goals.
The bank currently has 14 people in recreation sales and just hired a regional manager to cover the southwest and west regions of the country. Giering said he's also looking for a regional manager to...