CHATSWORTH, Calif. — Telesis Community Credit Union has becomethe sole equity owner of AutoSeekers, a national, creditunion-owned and operated automotive dealership.

Prior to the purchase, $608 million Telesis shared equityinterest with $132 million California Bear Credit Union in LosAngeles.

“The acquisition presents many opportunities beneficial forcredit unions and their members. Telesis has shown–through the workthey've done with Business Partners, their MBL CUSO–that they havethe resources to position AutoSeekers in the marketplace, givingcredit unions and their members a more robust auto-lendingsolution,” said Walt Agius, president/CEO of California Bear CreditUnion.

Since its inception, AutoSeekers has grown from a retail-focuseddealership to one that also provides credit unions with wholesaleand indirect lending services. The mission of AutoSeekers is tohelp credit unions provide their members with a “hassle-free”car-buying experience, while simultaneously helping these creditunion participants capture their members' auto loans.

“This acquisition will strengthen AutoSeekers' ability toprovide our credit union partners and ultimately our communitieswith convenient, cost-effective auto options. We remain committedto upholding the AutoSeekers mission by developing custom workflowmanagement applications and expanding the reach of our dealernetwork,” said Grace Mayo, president/CEO of Telesis.