Quorum Federal Credit Union, Purchase, N.Y., has entered into a timeshare receivables purchase facility with Bluegreen Corp. of Boca Raton, Fla., allowing the CU to buy timeshare receivables on a non-recourse basis.
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Quorum agreed to purchase up to $20 million of eligible timeshare receivables from the company (or its subsidiaries) through August 31, 2011.
Bluegreen is the provider of the Colorful Places to Live and Play Vacation Club. Its plan has more than 160,000 owners.
The firm boasts 56 owned or managed resorts, and its clients have access to 4,000 resorts worldwide.
