Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Autoland Reports Record Profits for 2012
CHATSWORTH, Calif. (3/7/13)--Buoyed by increased business referral volume from an expanded partner base and sustained car-buying demand, Autoland Inc. posted a year-over-year net profit increase of 174% in 2012.

The credit union service organization also raised its auto loan to vehicle sale retention rate to a combined 82%, driving $93.2 million in auto loans to its credit union partners.

"Auto loan portfolio growth remains a priority for our partners this year, particularly in the new vehicle finance market," said Jeffry Martin, Autoland Inc. president. "With sustained car buying demand, the competition for member loans and aftermarket product sales will be fierce. Autoland's expertise in retaining this business will be essential to the success of our partners reaching their 2013 loan goals."

The company exceeded its sales forecast, added significant credit union partnerships, expanded in-house office locations and retained direct loans for its partners at a record pace, Martin said. "Year-to-date, we've already added three new credit union relationships and with light-vehicle sales projected to rise by one million units this year, we're positioned to service an even greater number of members in 2013," he added.
RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
1 day ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
1 day ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
1 day ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
1 day ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
1 day ago