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Article: THE REPO REPORT
- Article from:
- Credit Union Management
- Article date:
- March 1, 2007
- Author:
CopyrightCopyright Credit Union Executives Society Mar 2007. Provided by ProQuest LLC. (Hide copyright information)
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Experienced CUs offer suggestions on how to unload surrendered vehicles.
"If it ain't broke, don't fix it." That's how the old cliché goes, at least. That's also how it seems to go in the world of CUs, at least when it comes to remarketing repossessed vehicles.
CUES member Sammy Clements, SVP/lending at $185 million Mutual Savings Credit Union (www.mutual savings.org/), with 32,000 members, Birmingham, Ala., for one, would like to move beyond those "tried and true" methods of unloading surrendered cars. He recently turned to CUES Net(TM), the CUES-members-only e-mail discussion forum, for advice.
"I am looking to see how other CUs are handling their sale of repossessed autos," he wrote. ...