Even before Hurricane Sandy blew across several states, Enterprise CarSales said it was helping credit unions increase their used carloan volume.
For instance, in 2012, the $1.8 billion, 336,000-member Municipal Credit Union in New York generated nearly $10 millionin used auto loans, while the $70 million, 16,900-member Liberty Savings Federal Credit Union in Jersey City, N.J.,recorded $1.4 million in used auto loans, according toEnterprise.
The bulk of increases in loan volume for used cars at Municipaland Liberty took place prior to the Oct. 25 hurricane, whichdamaged thousands of cars that needed to be replaced,Enterprise said.
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