More than a year after co-parent Telesis Community Credit Union's financial woes pushed it into conservatorship, auto buying CUSO Autoland Inc. said it is looking forward to a fresh start.
Last Wednesday, the NCUA said Autoland in Chatsworth, Calif., had been purchased by the $2.4 billion Mission Federal Credit Union in San Diego.
"I believe the acquisition of Autoland by Mission Fed is an excellent opportunity for our organization, and I couldn't be more pleased," said Jeff Martin, president of Autoland. "This allows us to stay in the credit union family as a CUSO, with a strong strategic credit union as the majority owner of Autoland."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
