MoneyAisle.com Signs 100th CU To Its Network

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BURLINGTON, Mass. – MoneyAisle.com, a free, automated online reverse auction site for CDs and car loans, reported that the 100th credit union has signed on to the network to bid for consumers’ business.

MoneyAisle.com, launched in 2008, first allowed banks to compete for consumers’ savings business. In May, it expanded to include new and used auto loans and refinancing, and at the same time invited credit unions to participate in the lending feature of the site.

Boyd Gustke, COO of $325-million Connexus Credit Union in Wausau, Wis., said his credit union signed on as it is pursuing auto loans and the acquisition costs are lower than standard advertising costs.

MoneyAisle expects to have more than 200 financial institutions in its auto loan network by the end of 2010.

 

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