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Auto loan service for credit unions opening office in Valencia

Posted: September 23, 2010 6:21 p.m.
Updated: September 24, 2010 4:55 a.m.

CU Xpress Lease Inc., a joint venture with Fusion Auto Finance LLC and GrooveCar Inc., has opened an office in Valencia. The Texas-based business is expanding its services to the California market.

GrooveCar Inc. and Fusion Auto Finance joined forces in 2006 to launch CU Xpress Lease, a turn-key lease program for credit unions.

Most credit unions are weighted toward pre-owned or used car lending. The CU Xpress program is for credit unions seeking to provide their members with competitive loans, and evolve into becoming full service lenders.

Mark Chandler, 48, former president of Chatsworth-based Autoland, will be the vice president of West Coast operations for CU Xpress.

A native Southern Californian, Chandler has over 25-years of experience overseeing relationships with both credit unions and auto dealerships.

Chandler said the turn-key lease program supports credit unions who want to expand their auto loan programs and that the service also benefits the local auto industry.


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