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Rejected Autoland Bidder Cries Foul

Nearly three months after the NCUA was appointed the liquidating agent for Telesis Community Credit Union, the agency has been working behind the scenes to divest the cooperatives roughly $4 million stake in Autoland Inc., an auto buying CUSO.

By Michelle A. Samaad | Updated on August 20, 2012

Nearly three months after the NCUA was appointed the liquidating agent for Telesis Community Credit Union, the agency has been working behind the scenes to divest the cooperative’s roughly $4 million stake in Autoland Inc., an auto buying CUSO.

Since June 1, the date that Telesis of Chatsworth, Calif., was liquidated and its assets purchased by the $1.3 billion Premier America Credit Union, also in Chatsworth, a number of entities initially expressed interest in Autoland, said John Fairbanks, NCUA public affairs specialist.

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