Type to search

Banking Featured Financial District

Popular consolidates auto, leasing operations at Roosevelt Ave. building

As part of its strategy to offer “modern and innovative” facilities for its clients, Popular announced the consolidation of its auto and leasing services at the former Doral building on Roosevelt Ave., the financial institution announced.

Effective Jan. 19,  the Popular Auto customer service division
formerly located at Popular’s Altamira location, and Reliable Auto, formerly
located at the Montehiedra Office Center, will move into the Popular Corporate
Center building at 1451 Roosevelt Ave. in Guaynabo.

Some six months after announcing its intentions, Popular Auto completed
the acquisition of certain assets and the assumption of certain liabilities
related to Wells Fargo & Company’s auto finance business in Puerto Rico —
Reliable Auto — in August 2018, as this media outlet reported.

Popular Auto acquired
approximately $1.6 billion in retail auto loans and $360 million in primarily
auto-related commercial loans. Reliable Auto is working as a division within
Popular Auto until both operations are integrated, bank officials said.

Among the services that will be available
to clients are: payments, endorsements of checks, settlement of accounts,
application for licenses or auto titles and settlement balances. In the case of
Popular, it will also offer services related to tags for leasing clients.

The new facilities are part of the
integration process, but the companies will offer separate service until the
transition is completed. Reliable’s customer service centers in Ponce and Isabela
will continue offering services.

Author Details
Author Details
This story was written by our staff based on a press release.

Leave a Comment

Your email address will not be published. Required fields are marked *