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CU System
Northwest FCU car show generates 221000 in loans
HERNDON, Va. (5/5/09)--Northwest FCU's members-only Car Show at its Herndon, Va., headquarters April 18 showcased 100 new vehicle makes and models and resulted in $221,000 in loans. The vehicles were from 13 area dealerships that participate in Northwest's auto locating service, said the $1.6 billion asset credit union. The four-hour event featured one-stop shopping, with a variety of makes and models on one lot, on-site trade-in appraisals and on-the-spot financing. Attendees also received a coupon with a 0.75% discount off Northwest's auto loan rates along with dealer incentives worth up to $300 on vehicle purchases. Nine vehicles were sold, and the credit union sold two cars from its selection of off-lease vehicles. "This event was mutually beneficial for our members, the credit union, and our network of dealers," said Mark Rumsey, auto resources manager at the credit union. "At a time when auto sales are down and consumers are experiencing economic challenges, it's exciting to have had such a positive response to this show."
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