Portland, Oregon¾Sept 12, 2005. TitleAuctions, Inc. announced today that credit union clients are realizing prices up to 107 percent of retail value when using CUAuctions.com for remarketing repossessions.

“TitleAuctions was founded on the premise that online competitive-bid auction tools could empower credit unions to more effectively remarket repos to their own members, to their auto dealer partners and to the public, earning higher sale prices and writing more new loans as a result. We are seeing measurable results that support that premise from our credit union clients,” said Mark Coleman, C.E.O.

Additional advantages to credit union remarketing include new membership applications and loans to those new members. Auctions that result in better than wholesale prices demonstrate the credit union has made an extra effort to remarket the collateral in a commercially reasonable manner, which mitigates legal risks.

Vern Nichols, Asset Recovery Manager at Northwest Community Credit Union in Eugene, Oregon states, “The program has been very successful for us. We’re earning $2,000 to $3,000 more per repo than through our previous channels, and we’re writing new loans and getting some new members, as well.”

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 57 credit unions in 18 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 research available upon request.

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Learn More. E-mail info@titleauctions.com or call 503-344-5001.