On Commonwealth Credit Union’s ‘About Us’ section it reads, “The credit union’s doors opened on April 2, 1951 with 122 shareholders, $2,700 in assets and a single volunteer. By 1976, six people were employed and membership had grown to almost 6,000. Since 1976, Commonwealth Credit Union’s assets have grown from $2.8 million to more than $890 million.Today, Commonwealth Credit Union has members from over 250 agencies in Kentucky – which include Boards of Education, Health Departments, City and County Government – in addition to numerous State Government agencies”.Commonwealth CU has a large presence throughout the State of Kentucky, but on occasion will service account holders in other regional areas. Since their inception they have become a major player in the local lending market. They have helped finance small business projects, personal mortgage loans for countless families, as well as a variety of vehicles including cars, trucks, motorcycles, boats, RV’s and more.
Although the credit union remains prudent all loans carry some risk for the investor. In the recent years where financial markets have struggled to stabilize Commonwealth Credit Union at times has had to repossess several secured assets on non-performing loans. Although all efforts are exhausted before a repossession takes place Commonwealth CU has turned a negative into a positive for credit union members. The credit union has provided an efficient way to deal with these repo’s which benefits the credit union as well as frugal car and home buyers. Through their website they have designed a sales portal where they can sell any credit union repo property they take in. This webpage is designed with the customer in mind and provides everything needed to quickly sell of the repo’s. They offer both bidding options in addition to a buy it now option. The listings generally have multiple picture and a detailed description of the vehicles.
For Kentucky car buyers interested in low priced credit union repo’s they are listed for sale on the-Commonwealth Credit Union repo list.
Car buyers are pleasantly surprised at how simple the process is when buying a credit union repo. You can expect to be treated fairly and honestly when working with Commonwealth on a repo purchase. Although they aren’t car dealers, they have years of experience in dealing with car and home sales. Interested buyers who would like to browse their inventory in person can set up a time to visit their repo lot where they can expect to find repossessed cars, ATV’s, boats, and more.
If you decide that purchasing a Commonwealth Credit Union repo is right for you, be sure to contact them as soon as possible. Credit union repo’s tend to move fast as other buyers will compete for the same great deal. Be sure to ask a lot of questions and make sure you ask about special financing offers for those that purchase repossessions. Credit union repossessions are sold “as-is”, so you’ll want to make sure you examine the vehicles closely. If you would like a professional opinion don’t hesitate to get assistance from a trusted mechanic before you finalize your purchase. All-in-all Commonwealth Credit Union repo’s have been a great option for car buyers in Kentucky.