Credit Union Remarkets Collateral Directly To Auto Dealers With Web-based Auction Tools From TitleAuctions

Higher sale prices and desire to reward auto dealers drive Northwest Community Credit Union to conduct direct-to-dealer auctions using TitleAuctions’ Web-based tools.

Portland, Oregon (PRWEB) October 20, 2005 -- TitleAuctions, Inc. announced that Northwest Community Credit Union is using its Web-based tools to remarket collateral directly to auto dealers participating in the credit union’s indirect lending program.

“We’ve worked closely with Northwest Community Credit Union to develop an Internet venue specifically for the remarketing of credit union collateral directly to auto dealers. The credit union has conducted four auction events thus far, and we’ve been very pleased with the results,” said Mark Coleman, C.E.O.*

Northwest Community CU’s asset recovery manager invites auto dealerships to register at www.dealers.cuauctions.com. To register dealers must provide their dealer ID for verification by TitleAuctions. Two days before the auction event dealers receive a list of available vehicles, and can then preview the vehicles on the Web, including up to 22 photos, a detailed vehicle description and a condition report.

Dennis Powell, CFO at Northwest Community Credit Union in Eugene, Oregon states, “The direct-to-dealer auctions are proving to be an effective remarketing channel for us. We’ve reduced costs and are achieving higher overall sale prices than we were before.”

About TitleAuctions, Inc.
Founded in 2002, TitleAuctions is a privately held company based in Portland, Oregon delivering retail, wholesale and member auction tools plus training and support, designed exclusively for credit unions. The company currently serves 59 credit unions in 19 states. For more information about TitleAuctions, visit www.titleAuctions.com. To browse and bid on credit union vehicles for sale, go to www.cuAuctions.com. For more information email info@titleauctions.com or call 877-223-5806.

*Detailed auction data available on request.

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