Jolt Credit Union, serving Michigan for more than 70 years, partners with CULA to bring the affordability of vehicle leasing to its more than 27,000 members
SAN DIEGO, Aug. 11, 2026 /PRNewswire-PRWeb/ -- Credit Union Leasing of America (CULA), the nation's leading provider of indirect vehicle leasing solutions, today announced that it is partnering with Jolt Credit Union, a Saginaw, Michigan-based credit union that manages more than $483 million in assets, to bring vehicle leasing to its over 27,000 members. With this partnership, CULA continues to grow its presence in Michigan, a state where credit unions are increasingly turning to leasing to help members manage the rising cost of vehicles. CULA currently partners with 40 credit unions across the US, representing over $146 billion in assets and serving over 7.6 million credit union members.
"Vehicle prices remain high, and affordability continues to be a top concern for consumers across Michigan and the country. Leasing can meaningfully lower monthly payments. In fact, CULA saved credit union members an average of $169 on their monthly payments last year compared to financing a similar vehicle. We're proud to partner with Jolt Credit Union to bring that kind of value to their members," said Ken Sopp, President of CULA.
Jolt Credit Union – A New Affordability Option for Michigan Members
Jolt Credit Union has served its community for more than 70 years, guided by a longstanding philosophy of "People Helping People." Formerly Catholic Federal Credit Union and originally chartered in 1956, Jolt is a member-owned cooperative focused on giving members the tools and guidance to reach their financial goals. Adding vehicle leasing through CULA extends that member-first approach to the showroom, giving Jolt a new way to keep members in an affordable vehicle while providing another lending option for the credit union.
"CULA's program streamlines leasing's complexities, enabling us to add vehicle leasing to our portfolio. And this is important because leasing gives our members a more accessible, flexible path to the vehicle they need, at a payment they can manage," said Alan Watson, President and CEO, Jolt Credit Union. "We've served this community for more than 70 years, and adding leasing is one more way to help members reach their financial goals without overextending their budgets."
The program will be offered through the CUDL dealer network, with support from CULA's partners at Origence.
Leasing as an Affordability Tool
Across credit union members nationwide, CULA's program drove an estimated $94.6 million in annual savings in 2025.
Michigan dealers stand to benefit as well. Leasing gives them another financing option to put in front of shoppers, widening the pool of customers who drive off with a payment that works for them.
"Leasing now accounts for nearly a quarter of all new vehicles sold in the US – (24.10%)[1] – and demand keeps climbing as buyers look for ways to afford a car. We're seeing that pull firsthand, with more credit unions like Jolt bringing leasing to their members every year," continued Sopp.
Since 1988, CULA has grown to become the leader in indirect vehicle leasing for credit unions, making vehicle leasing simple, compliant, and profitable. With a deep understanding of the credit union financial model, CULA has built long-term partnerships with top-tier credit unions nationwide. CULA handles operational complexity, including insurance, operations, compliance, and dealer management, and enables credit unions to add an important, competitive option for their car buying members, all while strengthening their dealer relationships.
About Credit Union Leasing of America
Credit Union Leasing of America (CULA) has been the leader in indirect vehicle leasing for credit unions for over 35 years. Founded in 1988, CULA provides best-in-class program assistance, analytics reporting, compliance support, dealer management tools and member services. The CULA indirect vehicle leasing program empowers credit union innovators to diversify their existing loan portfolios, improve yield and expand member services. Visit www.cula.com to learn more.
[1] Experian Automotive State of the Automotive Finance Market Q1 2026
Media Contact
Angela Jacobson, Credit Union Leasing of America (CULA), 1 714-454-8776, [email protected]
Melanie Webber, 1 949-307-1723, [email protected]
SOURCE Credit Union Leasing of America (CULA)
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