TitleAuctions Inc. announced it has signed service agreements with two billion dollar credit unions for the remarketing of repossessed collateral. Texans Credit Union ($1.46 billion, 152,000 members) and VyStar Credit Union ($2.9 billion, 335,000 members) have signed up to remarket portions of their repossessed portfolios on CUAuctions.com.
CUAuctions.com allows credit unions to present their vehicles for sale to their members on their own website. In addition, inventory is also presented on www.CUAuctions.com, and then marketed to consumers at large through search engines, such as Google, MSN and Yahoo. Credit unions can also remarket repos to their auto dealer partners in a closed private-auction environment.
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.
http://www.titleauctions.com
http://www.cuauctions.com
