With Autoland in Hand, Mission FCU to Focus on Growth
An auto loan portfolio worth $463 million and vehicle lending as a core product for over 50 years were factors that put Mission Federal Credit Union ahead of the pack during the bidding process for Autoland Inc.
The $2.3 billion credit union in San Diego, which has offered auto loans since its founding in 1961, covers a wide swath, serving more than 160,000 members through 23 branches, making it the second largest cooperative in the county.
The focus now will be on growth with special attention on enhancing service through Mission Federal’s resources in the technology channel, Schwartz said. Because the credit union and Autoland make positive auto buying experiences a priority, they will continue on that track, she added.
Indeed, Autoland is prepping to expand by going East, Martin said. First on the list is serving credit unions in Arizona and Colorado. Another potential step may involve some capital investments – an area that sort of stalled under Telesis’s management, Martin said.