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GM Financial to open servicing center in Texas

by Hannah Lutz | Automotive News | 12-01-2016
General Motors' captive finance company will open a financial servicing center in San Antonio early next year, pending state approval. It plans hire 490 employees there.

General Motors’ captive finance company will open a financial servicing center in San Antonio early next year, pending state approval, the company said. It plans hire 490 employees there.

The new center will help GM Financial service its customers and dealers by “expanding our workforce and service capacity in a strong and vibrant employment market,” GM Financial CEO Dan Berce said in a statement. Texas is home to GM Financial’s corporate headquarters and other operational facilities.

The company expects to begin working out of the 100,000-square-foot center in the first quarter of 2017, the statement said.

GM Financial chose San Antonio for the new servicing center based on a strong local workforce and a time zone that lends itself to assisting customers across the country, the statement said. The city, county and state also offered GM Financial incentives, such as a $2.5 million state incentive from the Texas Enterprise Fund.

The company could add up to 700 jobs to the San Antonio facility over time, Wayne Peacock, chairman of the San Antonio Economic Development Foundation, said in the statement.

Lease exclusivity

The captive financier became the sole provider of subsidized leases for Buick, GMC, Cadillac and Chevrolet earlier this year. One of GM Financial’s primary goals for 2016 is increasing its loan share, COO Kyle Birch told Automotive News last month. But he expects more than 900,000 loan and lease customers across all credit tiers by the end of this year.

GM Financial has about 6,700 staff members in the U.S. and Canada. The captive’s headquarters is in Fort Worth, Texas. It also has financial servicing centers in Arlington, Texas; Chandler, Ariz.; Huntersville, N.C.; and Peterborough, Ontario. It also has 18 credit centers in the U.S. and Canada, including one in San Antonio.