Auto Loan Pass Through Program

Why Your Bank Should Consider BCI

  • Easy way to add $250,000 to $5,000,000 in high quality loans on a monthly basis to your consumer loan portfolio
  • Gross yield is 8.15% on 37 month average term
  • Net yield is 7.02%
  • BCI loss rate historically is .20 bps
  • Effective program to help manage interest rate risk
  • High Quality Loans – Average FICO score is 740
  • All electronic system – No paper
  • BCI has a strong referral base with 25 years in business
  • Diversify your portfolio geographically and by loan type
  • BCI has been in business since 1998 and does business with Banks in CT, MA, NH, NY and VT.
  • BCI is a Division of Ion Bank, a 150-year-old $2B Bank

Program Highlights

  • Your bank determines monthly portfolio purchase size
  • New and Used auto loans with an average FICO score of 740
  • The Financial Institution reviews the monthly package and has the right of refusal on any loan
  • All loans generated in Southern New England
  • Averages
     – Loan amount is $26,100
     – Term at inception is 68 months
     – Term to payout is 37 months
     – Three year charge off rate is .21% – 2022 was .18%
  • 90 day cancellation agreement

Servicing & Compliance

  • BCI handles all aspects of loan servicing
     – Payments
     – Collections
     – Customer service
  • Investor gets month end report and does only 5 GL entries
  • BCI handles OFAC, Fair Lending, FinCen reporting
  • Annual SOC-1 from Fiserv, our servicer
  • BCI is regulated by the CT, MA, RI, ME, NH and VT Departments of Banking


  • Connecticut Department of Banking (and each state we are licensed in.)
Forms Design/Legal
  • Robinson and Cole
  • Mark Ryan
  • – Reid and Riege, Hartford, CT
Internal Control
  • Sheshunoff/Harcourt Group Ltd. of New England
  • Deloitte and Co.
  • – FISERV system review – SOC-1

Current Yield Analysis


Current Bank Rate 8.15%
(Rate after Dealer Reserve)
Acquisition Fee (Spread over 3 yrs.) -100bps -.33%

Annual Servicing Fee – 80bps -.80%

Net interest earned by investor 7.02% *

Reserve for loss (Investor Determined) -20bps -.20%

w/ potential loss built in 6.82%

… and our loan rates move with the market – as rates go up, you get the advantage!

*Compare us to the 3 Year T Bill Rate at 4.31% or 7 year T Bill at 34.22% (12/1/23)


These are just a few – We will gladly share  the names of all the banks we do business with.

Athol Savings Bank – MA
Daniel Zona – CEO
$420 Million in Assets

Ulster Savings Bank – NY
Joan M. Eck SVP & CCO
$841 Million in Assets

First County Bank – CT
John Bonora EVP & CFO
$1.7 Billion in Assets

Newtown Savings Bank – CT
Carl Josephson, SVP – Lending Mgr.
203-270-4427 Ext.3911
$1.1 Billion in Assets

New Haven Bank – CT
Thomas Whitbred, SVP – CLO
$170 Million in Assets

Dutch Point Credit Union – CT
Octavia Gaines– Vice President-Lending
$340Million in Assets

For More Information

Timothy W. Rourke
203-439-9400 Ext 7421

BCI Financial
1520 Highland Avenue (Route 10)
Cheshire, CT 06410
Toll Free at 1-866-BCI-CORP