Car Sale Nets $2.7 Million in New Loans for CFE

Lee Whitecavage
407-896-9411, ext. 2287

(Lake Mary, FL) CFE Federal Credit Union is excited to announce that their recent car sale produced over $2.7 million in new loans, more than double the initial goal.  CFE and Auto Wholesale Direct (AWD), teamed up for a 2-day CFE & AWD Car Sale.  AWD provided a wide variety of new and used vehicles priced below NADA book value, while CFE offered a special interest rate and terms to convince members that “it was time to buy.”

To draw buyers to the car sale, CFE offered attendees a chance to select six numbers that could unlock a vault to win a new Jaguar or $75,000 cash. None of the 530 attendees selected the correct six numbers to open the vault, however many drove away happy in their new vehicle, with their special rate.

“We were amazed at the number of people who attended the car sale and who wanted to buy a car,” said Kevin Dougherty, CFE Senior Vice President.  “This more than exceeded our expectations, and we are pleased that so many members took advantage of these quality vehicles and special rates.”

CFE aggressively communicated the car sale through numerous media outlets including radio advertising, billboards, social media, website, branches and member newsletter.  Additionally, members were encouraged to get pre-approved prior to the event. Another car sale is planned for the fall of 2012.

CFE Federal Credit Union was founded in 1937 and currently serves approximately 121,000 members.  As of March 31, 2012, CFE had total assets of over $1.351 billion and deposits of over $1,131 million.  Membership eligibility includes anyone who lives, works, attends school, volunteers, or worships in the Orange, Osceola, Lake or Seminole Counties of Florida.  Businesses and other legal entities may join as well.  The credit union serves its members at 19 full service branches, 4 high school branches, 41 ATM locations and through 24-hour Internet access.  CFE is recognized as a Top 20 in The Orlando Sentinel’s Top 100 Companies for Working Families for 2011.

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