Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Learn how to stay competitive with new research blog from @CUNA's econ/statistics dept in Wed's #NewsNow
6 hours ago
#FOMC meeting watch: Change in forward guidance expected #Market #NewsNow http://t.co/PH41VN1j9l
8 hours ago
Member growth at #creditunion continues despite mill closure #NewsNow http://t.co/rNRjLBjvX9
10 hours ago
CA/NV league pres/CEO Dykstra in @sacbee_news: Retailers should hold accountability in data breaches http://t.co/odyHd9N2OG
11 hours ago
Fin. lit. ideas percolate during .@NW_Banking #tweetchat #NewsNow http://t.co/nSS9Iiw0e0
11 hours ago