Car-Buying Demand Drives Continued Profitability for Autoland and Its Partners
June 5, 2012
June 5, 2012
Autoland, Inc. posted positive first-quarter earnings in 2012, reporting a 16-percent sales increase over the same period last year. Autoland’s lead volume is up 27 percent, which puts the auto-buying credit union service organization (CUSO) on track to exceed its second-quarter sales forecast.
“We have increased Autoland’s revenue opportunities by adding new credit union partners and expanding our service presence to more key locations in California and Oregon,” said Autoland, Inc. president Jeffry Martin. “As more credit unions recognize the premier service we can bring to their members, along with positive earnings to their balance sheet, the better positioned Autoland finds itself to take advantage of the projected 13-percent increase in car sales this year.
Over the past seven months, Autoland has added 11 new credit union partners. The most recent additions include: Citizens Equity First Credit Union, El Monte, Calif.; CBC Federal Credit Union, Oxnard, Calif.; Pacific Resource Credit Union, Los Angeles, Calif.; and Cascade Community Federal Credit Union, Roseburg, Ore.
“The good news is that credit union membership continues to rise—667,000 for the first three months of 2012—and with it, more opportunities to finance member automobile purchases,” Martin said. “The demand is there on both sides, and we’re servicing that demand by getting the vehicles members want while retaining the financing for our credit union partners at a rate of 82 percent. In fact, our partners have seen their loan dollars through Autoland increase this year by an average of 40 percent.”
Founded in 1971, Autoland is the auto-buying resource of choice for more than 200 credit unions nationwide, with membership greater than eight million. Autoland’s value proposition is to drive high-quality, direct loans for its credit union partners while providing excellent member service and innovative marketing solutions to support credit union lending goals.
Autoland helps members make educated auto-buying decisions and promotes the credit unions’ financing. Providing advanced online tools, concierge car-buying services for both new and pre-owned vehicles, a convenient trade-in process, and a commitment to personalized service, Autoland has sold more than $1.8 billion worth of vehicles to credit union members in the last decade.
Autoland is held by CU Vehicles, LLC., a collaborative credit union service organization.
Strategic Link is the NWCUA’s wholly-owned service corporation, providing the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Questions? Contact Sales & Marketing Associate Craig Reed: 206.340.4789, firstname.lastname@example.org.
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