Corp., Charlie Mac In First Sale
In its first-ever auto loan sale conducted with Charlie Mac's CARPooL program, Missouri Corporate CU said it assisted in the sale of a $10-million pool of auto loans from the $140-million Gateway Metro CU.
Charlie Mac is the former Network Liquidity Acceptance Co., LLC. Missouri Corporate said it is making Charlie Mac programs available to all its members seeking a secondary market outlet for automobile loans. CARPooL is a ready purchaser of credit unions' new and used auto loans, which make up 40% of the credit union industry's loan origination volume. Charlie Mac also offers a jumbo loan program called JumboExpress. Gateway Metro's participation in CARPooL pushes Charlie Mac over the $700-million loan purchased mark. For info: www.charliemac.org or www.mocorpcu.coop.