PHOENIX, Az. (Jan. 29, 2016)–The Mountain West Credit Union Association (MWCUA) has finalized a strategic alliance agreement to help Arizona credit unions with asset repossession and disposition. Powered by PAR North America, Remarketing by Element and Manheim, the new alliance delivers best-in-class providers, each with a proven commitment to serving the unique needs of credit unions, and staff dedicated to meeting credit union needs.
“We thought long and hard about bringing new repossession and disposition providers to the table,” said Mike Atchison, Senior Vice President of Credit Union Relations for the MWCUA. “A key goal for this new alliance was ensuring that each vendor understood the unique needs and preferences of credit unions, and was laser-focused on meeting those needs. We are confident that this alliance will do just that for our member credit unions.”
With the new alliance, Arizona credit unions can issue a repossession order anywhere in the U.S. to PAR North America. Once the asset is secured, PAR automatically transfers the assignment to Remarketing by Element for professionally managed disposition at a Manheim operating location. Credit union staff controls each step of the process with simple-to-use Web-based tools. The entire process, including all associated fees, are managed and approved by credit union staff in a completely transparent fashion.
About Mountain West Credit Union Association
The Mountain West Credit Union Association is the regional tri-state trade association representing 126 member credit unions, 3.1 million credit union members and $37 billion in assets throughout Arizona, Colorado and Wyoming. Not-for-profit in nature, credit unions provide low-cost financial services to their members. Founded in 2011, the Mountain West Credit Union Association serves and supports the interests of member credit unions through advocacy, community outreach, education and training, public affairs, regulatory and compliance services and strategic partnerships. The Mountain West Credit Union Association is affiliated with Credit Union National Association (CUNA), World Council of Credit Unions (WOCCU) and CUNA Mutual Group. Follow us on twitter at twitter.com/mwcua or on Facebook at facebook.com/mwcua. To learn more about credit unions visit AsmarterChoice.org.
About PAR North America
PAR North America is a leading nationwide provider of vehicle recovery services including recovery management, skip tracing and title services. With more than 800 agents in the company’s network, it provides coast-to-coast coverage across all 50 states. PAR was established in 1992 and is part of the KAR Auction Services group of companies.
About Element Financial Corporation
With total assets of approximately $23 billion, Element Financial Corporation is one of North America’s leading fleet management and equipment finance companies. Element operates across North America in four verticals of the equipment finance market – Fleet Management, Rail Finance, Commercial & Vendor Finance, and Aviation Finance.
About Manheim (www.manheim.com)
Manheim is the leading global provider of vehicle remarketing services, connecting buyers and sellers of used vehicles to the largest wholesale used-vehicle marketplace. The company helps dealer and commercial customers achieve results by providing physical and digital auction channels, data analysis, financing, transportation and mobile products and solutions.
Manheim pioneered in-lane vehicle auctions and has been an innovator in both digital and mobile auction platforms. Manheim registers nearly seven million used vehicles annually, facilitating transactions representing nearly $46 billion in value. Manheim’s research and consulting arm, Manheim Consulting, provides industry-leading market intelligence and publishes the widely recognized annual Used Car Market Report. The company offers dealer financing through NextGear Capital, Inc. and transportation services through Ready Auto Transport.
Headquartered in Atlanta, Manheim has more than 20,000 employees in 122 worldwide sites and generates annual revenues of more than $2.5 billion. A subsidiary of Cox Enterprises, Manheim participates in “Go Green with Manheim,” the company’s sustainability program.
Contact: Patti Hazlett, Director of Corporate Communications