Led by several key drivers, second-quarter profits for auto buying service CUSO Autoland Inc. were 76% ahead of forecasted earnings.
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.
This preview from next week's print edition takes an in-depth look at Mission FCU's acquisition of the Autoland CUSO.
Dealers chosen because of survey ratings from members and total auto loan production they generated for SCCU.
More than a year after co-parent Telesis Community Credit Union’s financial woes pushed it into conservatorship, auto buying CUSO Autoland Inc. said it is looking forward to a fresh start.
ELT replaces paper automotive liens with an electronic exchange of data between a state’s department of motor vehicles and automotive lenders.
Through the end of April, 62% of credit union auto buying service CUDL’s used car loans were in the prime category, the company said.
“This allows us to stay in the credit union family as a CUSO, with a strong strategic credit union as the majority owner."
Making good on its word to track concerns such as questionable interest rates and discrimination, the Consumer Financial Protection Bureau recently sent a stern message that it is monitoring auto lenders’ activities.
NEW YORK — Indirect auto lending and the growth it brings isn’t a new topic, but a July 1 breakout session at CUNA’s America’s Credit Union Conference utilized relatively new technology that allowed audience members to voice their opinions. The debate, which was moderated by CUNA Mutual’s David Polet, included...