There's no exact countbut when it comes to used car lots, AutoBranch may be one of thevery few owned by a credit union.
The $414 million City County Credit Union in Margate, Fla.,launched the business in 2004 and today, the lot (pictured at left)sells 40 to 50 cars a month, according to Lloyd Gill, president/CEOof the cooperative. In 2013, 489 cars were sold compared to 404 inthe lot's first year.
Drive down busy S. Federal Highway in Fort Lauderdale, Fla., andAutoBranch will stand out because it doesn't resemble the typicalused car lot with a “Buy Here, Pay Here” banner flapping in thebreeze. The location was formerly a new car dealership and thebuilding looks clean and inviting and the lot is orderly.
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