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U of C FCU Gives Members New Vehicle Financing Options Through AAI Partnership

BOULDER, Colo.- U of C FCU inked a partnership with Automotive Avenues, Inc. (AAI) that gives the CU's more than 74,000 members enhanced options when financing their auto loans through the credit unions. Instead of U of C FCU members purchasing their vehicles through the traditional franchise dealership, the CU's...

By Staff Writer | Updated on June 22, 2004

BOULDER, Colo.- U of C FCU inked a partnership with Automotive Avenues, Inc. (AAI) that gives the CU’s more than 74,000 members enhanced options when financing their auto loans through the credit unions. Instead of U of C FCU members purchasing their vehicles through the traditional franchise dealership, the CU’s new relationship with AAI – a division of Aimbridge – provides them with a complete one-stop new and used auto purchase and lease program. That includes all sales, service and parts facilities and onsite financing. U of C FCU has a dedicated AAI representative onsite at the credit union’s Diagonal branch who is responsible for assisting U of C FCU members with vehicle purchasing options. The credit union has begun a referral program with AAI that involves recommending members to AAI as a possible resource if the member expresses an interest in purchasing a vehicle. AAI has relationships with more than 200 dealerships in Colorado and throughout the U.S., and it says that gives it the opportunity to negotiate better pricing on vehicles. The company says this will save U of C FCU members money when purchasing vehicles, and it doesn’t charge a dealer handling fee. U of C FCU has $630 million in assets. According to its 5300 Call Report March 2004, it had $45,814,716 and $102,261,969 in new and used auto loans in its portfolio.

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