“The increase in dealership participation we have experienced over the last few years further underscores the value dealers see in partnering with credit unions and using our expanding lending network.”
Ontario, CA (PRWEB) April 29, 2014
CU Direct (http://www.cudirect.com), administrators of the largest auto lending service network for credit unions in the United States, has announced that its lending network has expanded to include 11,000 dealers.
The company’s CUDL auto lending network has reached the new record mark after hitting the 10,000 dealer milestone less than a year ago. The CUDL network includes dealers in all 50 states.
The auto lending network also includes more than 1,100 credit unions, representing 38 million members nationwide. The expansion of the CUDL network represents CU Direct’s ongoing commitment to providing best-in-class solutions for credit unions and partner dealers, which continues to drive record results.
CU Direct credit unions generated a record $16.3 billion in auto loans through the CUDL network in 2013, while experiencing 21% growth in funded loans thus far in 2014.
“The increase in dealership participation we have experienced over the last few years further underscores the value dealers see in partnering with credit unions and using our expanding lending network,” stated Jerry Neemann, CU Direct’s executive vice president of automotive solutions. “Our goal is to provide leading products and services to dealers and credit unions that add value to their relationships, grow sales opportunities for dealers, and generate loan growth for credit unions.”
For more than 20 years, the company’s credit union auto lending network has provided credit unions the ability to help members and consumers gain credit union financing at the dealership, and helped dealerships streamline workflow and sell more cars.
# # #
About CU Direct
Established in 1994, CU Direct has helped the credit union industry fund over $138 billion in loans by being the nation’s leading lending and automotive solutions provider for credit unions. Representing more than 1,100 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members, and help dealers enhance efficiency, increase profitability and generate sales. CU Direct offers a diverse, extensive library of products and services designed to help credit unions advance their lending programs and achieve overall portfolio success. Solutions include CUDL, Lending Insights, Lending 360, OnSpot Financing, Vero, and its suite of auto buying products. For more information about CU Direct visit http://www.cudirect.com.