Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Autoland Earnings 76% Ahead Of Forecast
CHATSWORTH, Calif. (7/29/13)--An increase in direct leads from credit union partners and an improvement in sales led to second quarter profits that were 76% ahead of forecasted earnings through June for Chatsworth, Calif.-based auto buying service Autoland Inc.
Sales productivity for Autoland was up 8.5% and direct loan volume to credit union partners rose 9.4%, year over year.
"The competition from banks and manufacturer finance groups is fierce this year with the return of attractive leasing programs and purchase rates," said Autoland Inc. President Jeffry Martin, adding that "eight out of 10 members we work with end up getting their loan at one of our credit union partners."
Recently the credit union service organization of San Diego-based Mission FCU acquired majority ownership in Autoland, and plans are proceeding to expand the company's service footprint.  Seven new partnerships with credit unions based in Oregon and California have been added so far this year.
"In the short term, we'll be increasing our service to additional credit unions in California, Oregon and Washington," Martin said. "We are actively pursuing partnerships in neighboring states and we would like to establish operations in Arizona, within the next year."

RSS print
News Now LiveWire
Ala. veterans can get job advice at Friday's career fair hosted by @RedstoneFCU
5 hours ago
See how one St. Louis-based #creditunion is helping members access transportation; get to work #tomorrow #NewsNow #CUNA
7 hours ago
Matz says no to @CUNA, NAFCU request for 90-day comment period extension on risk-based capital plan. Deadline stays at May 28.
7 hours ago
Sen. Banking Com. schedules April 29 vote on McWatters' @TheNCUA nomination--same day as panel vote on Johnson-Crapo housing finance reform.
7 hours ago
3 Wash. state CUs members were rewarded with $5K checks--the biggest winners yet in the state's prized-linked savings program, #SaveToWin
7 hours ago