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With Autoland in Hand, Mission FCU to Focus on Growth

An auto loan portfolio worth $463 million and vehicle lending as a core product for over 50 years were factors that put Mission Federal Credit Union ahead of the pack during the bidding process for Autoland Inc.

By Michelle A. Samaad | Updated on July 24, 2013
An auto loan portfolio worth $463 million and vehicle lending as a core product for over 50 years were factors that put Mission Federal Credit Union ahead of the pack during the bidding process for Autoland Inc.

The $2.3 billion credit union in San Diego, which has offered auto loans since its founding in 1961, covers a wide swath, serving more than 160,000 members through 23 branches, making it the second largest cooperative in the county.

Its Golden State roots were probably also an ideal characteristic when bids were placed on the table to purchase Autoland, an auto buying service CUSO in Chatsworth, Calif., once co-owned by the defunct Telesis Community Credit Union. Proximity-wise, it’s a roughly two and a half hour drive between Autoland and Mission Federal.

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