TitleAuctions Inc. provides services to credit unions so they can sell repossessed collateral at online auction. The company was founded in 2002 and serves 59 credit unions in 19 states. Company CEO Mark Coleman said many credit unions rely exclusively on wholesale brick & mortar auctions to remarket repossessed vehicles (repos), earning roughly 80 percent of wholesale book value.

With TitleAuctions, Coleman said credit unions can augment the wholesale auction channel with a retail Internet channel. By selling the premium condition repos to the credit union's own members, leveraging the credit union's own Web site, top-performing clients can enjoy sell-through rates of 75 percent or more of the vehicles they post for sale and earn an average of 104 percent of wholesale book value.

TitleAuctions is hosting a monthly educational Webinar for credit unions at no charge titled "The Three "R"s of Internet Remarketing."

The Webinar lasts about 30 minutes, and touches on the resources required for effectively using the Internet to remarket collateral. In addition, the Webinar discusses some of the legal questions surrounding the Internet as a remarketing venue, as well as how an Internet-based program must fit within the unique culture of the credit union. Participating credit unions will receive a checklist of items to consider, as well as suggested resources for addressing checklist items.

Credit unions wanting to attend the no-cost Webinar should contact TitleAuctions by email at support@titleauctions.com. Leagues or chapters wanting to schedule a presentation can also send an email to support@titleauctions.com.

http://www.titleauctions.com