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CU System
Rogue FCU auctions repossessed vehicles online
MEDFORD, Ore. (8/21/08)--Rogue FCU, Medford, Ore., has sold 13 repossessed vehicles through its online auctions program since July. The online auctions can be accessed from the credit union’s website, opening the door to anyone in the market for a new vehicle. Some buyers live as far away as New Mexico and Texas, according to the credit union. “Anyone can view, get information and bid on vehicles just like they might on eBay,” said Gene Pelham, Rogue FCU president/CEO. All vehicles are inspected for safety and mechanical problems prior to the auctions. “Our reputation is on the line, so we want to not only make sure that people are getting a good deal, but also a safe and sound vehicle for their family,” Pelham said. The credit union partnered with cuAuctions to sell the vehicles. “We’re not a car dealership. We’re a credit union--so we’re anxious to sell the repossessed cars, trucks and recreational vehicles we have available,” he added. Rogue FCU has more than $330 million in assets.
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