Search
Copyright © 2024 ALM Global, LLC. All Rights Reserved.
There’s no exact count but when it comes to used car lots, AutoBranch may be one of the very few owned by a credit union.
The $414 million City County Credit Union in Margate, Fla., launched the business in 2004 and today, the lot (pictured at left) sells 40 to 50 cars a month, according to Lloyd Gill, president/CEO of the cooperative. In 2013, 489 cars were sold compared to 404 in the lot’s first year.
Drive down busy S. Federal Highway in Fort Lauderdale, Fla., and AutoBranch will stand out because it doesn’t resemble the typical used car lot with a “Buy Here, Pay Here” banner flapping in the breeze. The location was formerly a new car dealership and the building looks clean and inviting and the lot is orderly.
Already have an account? Sign In Now
NOT FOR REPRINT
© 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.
The CFPB is ordering Navy Federal to refund more than $80 million to consumers, stop charging illegal overdraft fees, and pay a $15 million civil penalty.
NCUA and Fed data also show credit unions’ share of auto loans in September has fallen from a year earlier.
The list includes six credit unions merging due to poor financial condition and two for poor management.
Guide
Sponsored by TransUnion
Quick Guide to Modern Prescreen Marketing
What if you could get your offer to consumers before the competition?
Playbook
Sponsored by TransUnion
How to Win Customers in the Modern Marketplace
What if you could acquire more customers in less time?
Report
Sponsored by Elan Credit Card
Consumers' Financial Health and Spending Priorities Guide Credit Card Choices
Unlock insights into the spending habits and motivations of new cardholders! Explore why so many chose general-purpose credit cards and what this trend means for industry leaders.
Copyright © 2024 ALM Global, LLC. All Rights Reserved.
Sign In
Sign In
