WASHINGTON (7/11/13)--Mission FCU, San Diego, Calif., purchased national car-buying credit union service organization Autoland on Wednesday, the National Credit Union Administration announced.
The NCUA held an interest in Autoland due to its role as liquidating agent of the former Telesis Community CU. The agency had operated the Chatsworth, Calif.-based auto buying service since May 2012.
Autoland was founded in 1971 and currently serves more than 200 credit unions nationwide. The firm reported a 17% year-over-year increase in sales in the first quarter of 2013 as credit union members continued to take advantage of available credit to replace aging vehicles.
For the full NCUA release, use the resource link.