CREDIT UNION REMARKETING CONFERENCE IS A SUCCESS
Photo cutlines:
Pic #1: Manheim's state-of-the-art DRIVE Center in Atlanta, GA
Pic #4: Manheim's Jon Schrock addresses conference attendees
Pic #5: Conference attendees view a live auction at Manheim's Atlanta
Auto Auction
Pic #7: Donald Foy, executive director of Manheim DRIVE, discusses the
many benefits of detailed and expertly repaired vehicles
REMARKETING CONFERENCE PRESENTED BY CUDL AND MANHEIM MAKES SUCCESSFUL
DEBUT
More Than 35 Credit Unions Participate In First-Ever Remarketing
Conference Designed Specifically For Credit Unions
Atlanta, GA, April 6, 2006 - The first-ever National Auto Remarketing
Conference for credit unions was well-received by attendees and
organizers alike, as credit union representatives from across the nation
participated in the three-day event.
Held March 15-17 at Manheim's DRIVE Center in Atlanta, the conference
offered presentations by remarketing industry experts and intensive,
hands-on sessions, where credit union attendees experienced an
environment that mirrors real-world remarketing. The event was a joint
effort between Credit Union Direct Corporation (CUDL), the national
leader in point-of-sale and indirect lending for the credit union
industry, and Manheim, the world's leading automotive remarketing
company.
Ideal for finance and collections staff, approximately 70 people
representing more than 35 credit unions attended the event. The
conference provided a broad but detailed look at the remarketing
industry, providing insight to how credit unions could best leverage
their remarketing program.
"We're very excited about the overall success of the conference, and the
very positive response we've received from the credit unions that
participated," said Evan Etheridge, national sales director of CUDL.
"By partnering with Manheim in presenting the Auto Remarketing
Conference, we've been able to offer a program that helps credit unions
enhance and refine their remarketing knowledge, which in turn will
assist them in increasing their vehicle values, adding to their bottom
lines."
The agenda featured a wide range of educational opportunities aimed at
helping credit unions maximize vehicle value. Credit unions attending
the conference benefited from:
* Learning the essentials of increasing vehicle value
* Exploring the many sales channels available to remarketers
* Learning trends in the used vehicle market
* Viewing a live auction in progress
* Discovering the value of the CUDL network and remarketing
exclusivity to the credit union industry
* Discussing benchmarking and analytics and their roles in
evaluating returns
Presentations were given by a number of highly recognized industry
experts, including:
* Tom Webb, chief economist, Manheim
* Paul Seger, vice president of asset remarketing, GE Commercial
Finance
* Hal Logan, senior vice president, strategic planning, Manheim
* Steve Greenfield and Amy Mills, marketing and analytics, Manheim
* Jon Schrock, director of national accounts, Manheim
* Mark Coleman, president, TitleAuctions
Tom Webb's presentation, State of the Used Vehicle Market, helped
attendees understand how the used vehicle industry touches so many parts
of the U.S. economy. Presentations from Hal Logan, Steve Greenfield and
Amy Mills described how technologies like Simulcast, Online Vehicle
Exchange and Manheim Market Report can help remarketers make better
decisions faster from anywhere in the world.
Jon Schrock and Mark Coleman discussed in detail how third-party vendors
could effectively serve as "one-stop shops" for credit unions, handling
everything from title work and inspections to the quick remarketing of
vehicles.
GE Commercial Finance's Paul Seger, considered one of the foremost
experts on the remarketing industry and in charge of one of the largest
fleets of used vehicles in the world, presented information on that
company's successful remarketing efforts and how the auction is the
center of those efforts. He also provided insight on effective
marketing, Internet integration, vendors and sales management to
complete a comprehensive remarketing program.
"The conference was a tremendous success from our point of view," said
Schrock, director of national accounts for Manheim. "We got to hear
directly from the executives who manage used vehicle inventory every
day, and we have a better understanding of the issues credit unions
face. We look forward to helping credit unions find ways to make
intelligent remarketing decisions now and in the future, because we see
a lot of opportunity for their vehicles in the used vehicle
marketplace."
Beyond participating in the wide variety of presentations and sessions,
credit union representatives also had the opportunity to tour Manheim's
state-of-the-art Atlanta Auto Auction and experience a live auction
sale, where hundreds of vehicles were bought and sold as they rolled
through the lanes. Attendees also viewed the auction's reconditioning
and inspection operations, learned how electronic condition reports are
created, and experienced Manheim's unique photo booth, which quickly
takes digital photos of vehicles from 360 degrees.
The event's facility, Manheim DRIVE ("Development, Research, Innovation,
Vision, Excellence"), is a 145,000-square-foot research and development
facility that serves as a test and concept center for new technologies
and processes, and as a forum to inspire collaboration and
out-of-the-box thinking in the automotive industry.
Through its partnership with CU Direct, Manheim is the preferred
provider for managing the back end of participating credit unions'
portfolios. CU Direct also provides its clients access to Manheim's
educational and training tools about the remarketing industry and offers
the leverage to consolidate vehicles at auction so sellers get more
attractive run times. Credit union sellers can take advantage of
dedicated credit union lanes at Manheim auctions nationwide and a host
of other services, including centralized nationwide repossession and
remarketing management from Remarketing Solutions.
# # #
About Manheim
Manheim is the world's leading provider of automotive remarketing
services. Through its wholesale auctions and array of technology
products, Manheim impacts every stage of a used vehicle's life cycle,
helping commercial sellers and automobile dealers realize the full value
of their vehicles.
The company's auction services include reconditioning, certification,
inspections, dealer financing, transport, title management and
marshaling, among others. Manheim is also the leader in remarketing
technology, using its online tools to connect buyers and sellers around
the globe to the world's largest, most comprehensive wholesale
marketplace. In 2005, Manheim handled nearly 10 million used vehicles -
and sold more than 5 million - representing more than $50 billion in
value.
Manheim's subsidiary companies provide value-added remarketing products
and services, including paintless dent removal (Dent Wizard), Auto Body
Repair, and salvage vehicle remarketing (Total Resource Auctions).
A wholly owned subsidiary of Cox Enterprises, Atlanta-based Manheim is a
global organization with 32,000 employees at its 124 U.S. and
international auction locations. For more information, visit
www.manheimauctions.com <http://www.manheimauctions.com/> .
About CU Direct Corporation
Based in Rancho Cucamonga, Calif., CU Direct Corporation (CUDL) is the
leader in indirect lending services for the credit union industry. As a
result of its recent merger with Indirect Services Inc., CUDL
administers both the Credit Union Direct Lending (CUDL) and DecisionApp
programs, which allow members to receive credit union financing at the
auto dealership through an automated decisioning system. As a Credit
Union-owned Service Organization, CUDL develops custom applications,
training and marketing programs to help credit unions achieve their
indirect lending goals. Participants include more than 7,000 dealerships
and 550 credit unions in more than 40 states nationwide. For more
information on CUDL, visit www.cudirect.net <http://www.cudirect.com/> .
Credit union members can find all the latest AutoSMART auto buying and
research tools at: www.cudirect.com <http://www.cudirect.net/> .
Chad Schmidt| McNeely Pigott & Fox Public Relations | (615) 259-4000 |
611 Commerce Street | Tower Suite 2800 | Nashville, TN 37203
