Military personnel, even those with poor credit, benefit from steadier employment, less exposure to an economic downturn, and certain benefits that enhance their financial security, such as comprehensive health coverage, a housing allowance, and food allowances. Security National Automotive Acceptance Co., a nonbank lender based in Ohio that caters to this market, benefits from an another feature: it lends primarily to service members who agree to make payments via the U.S. military's automated electronic allotment system. More than 90% of the pool of borrowers in Security National's latest securitization, completed in 2014, paid via allotment, according to Standard & Poor's. At the time, S&P said the company had been expanding its managed portfolio modestly. The portfolio was $378 million as of Dec. 31, 2013, with roughly 15% year-over-year growth. Flagship Credit Acceptance, founded in 2005 by CEO Michael Ritter, an auto industry veteran, and controlled by private equity firm Perella Weinberg, has been catering to service members since 2012. However the $185 million funded through this program accounts for a small portion of the company's total assets of $2.7 billion. In January 2015, Flagship merged with CarFinace Capital, bringing the CarFinance.com direct lending portal under its fold. The company had substantially increased defaults and collections in 2015, as its 31-60 day delinquency rates increased to 5.48% (112 basis points higher than in 2014) and net charge offs nearly doubled to $102.11 million.