The Industry's Leading Source For F&I, Sales And Technology

Top News

World Omni Financial Corp. Celebrates 25th Anniversary

December 7, 2006

Deerfield Beach, Fla. — World Omni Financial Corp. (World Omni) —one of the nation’s largest diversified automotive financial services companies — marks its 25th anniversary on Friday, December 8 with a dedication ceremony and celebration at the company’s Deerfield Beach headquarters. A subsidiary of $9.4 billion diversified automotive company JM Family Enterprises, Inc. (JM Family), World Omni has experienced phenomenal growth and positioned itself as a leading company in the auto financing industry.

The anniversary celebration will begin at 11:15 a.m. with a welcome from World Omni President Brent Burns. JM Family Chairman Pat Moran and president/CEO Colin Brown will show their appreciation to all associates by dedicating a commemorative plaque. The festivities will also include City of Deerfield Beach Mayor Albert Capellini, who will assist in the unveiling of World Omni’s silver anniversary plaque, created by award-winning artist George Gadson.

“We are very proud to be celebrating World Omni’s 25th Anniversary,” said Burns. “To have achieved this milestone is a testament to the commitment and dedication shown by all World Omni associates throughout the past 25 years. This is a very special day for us and we wanted to ensure that we recognize those who have contributed to our success,” he added.

In 1981, led by Jim Moran, JM Family’s management team created World Omni Financial Corp., the first captive automotive finance business for import vehicles in the United States. World Omni was established as a long-term, consistent alternative to local and regional banks and was originally the finance arm for Southeast Toyota Distributors, LLC (SET). Its business model was built around and is in line with Southeast Toyota Finance’s (SETF) two-pronged mission to provide a full range of financial products and services to the 169 Toyota dealers in the Southeast. SETF also supplies consumers with retail and lease alternatives that facilitate the sale of Toyotas. By executing strategies in support of its mission, SETF enables SET dealers to have the capital to build facilities and floorplan vehicles and enhances consumers’ ability to afford and purchase Toyota vehicles.

The wealth of experience and knowledge that World Omni has gained as a result of its captive status has allowed the company to develop into one of the leading third-party servicing companies in the industry. World Omni’s third-party servicing business, CenterOne Financial Services, provides banks and other financial institutions with the opportunity to outsource some or all of the servicing of their titled assets so they can concentrate on core competencies. The company has utilized its expertise and further developed its infrastructure by investing in technology which has allowed World Omni to earn and maintain a strong rating, the highest possible, from Standard & Poor’s(S&P) as a consumer finance, automobile loan and lease servicer, since 2004.

During the past few years, the company has also purchased and established several companies within the financing industry, which have enhanced World Omni’s capacity and allowed the company to offer a broader array of products and services:

CenterOne Financial Services – Third-party servicing solutions such as: originations, loan and lease servicing, collections, pro-active remarketing, vehicle remarketing, back-up servicing, training

DataScan Technologies - Wholesale floorplan accounting and risk management systems and services

DataScan Field Services - Vehicle inspections and audits

Monetrics - Risk decisioning software and services

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  

CLOSE [X]

READ NEXT

Auto Insurance Premiums Expected to Drop in 2007 for First Time Since 1999

The typical U.S. driver will pay less for auto insurance in 2007 than in 2006, with the average premium expenditure expected to drop by 0.5 percent, reported the Insurance Information Institute (I.I.I.)