The leader in indirect vehicle leasing for credit unions further broadens its reach in the western U.S. as it partners with the ninth largest credit union in the U.S.
GARDEN GROVE, Calif., Jan. 9, 2024 /PRNewswire-PRWeb/ -- Credit Union Leasing of America (CULA), the leader in indirect vehicle leasing for credit unions for over 30 years, today announced that it has been selected by Utah-based Mountain America Credit Union, to bring the flexibility and affordability of vehicle leasing to its more than 1.1 million members. Mountain America opened its doors in the 1930s and today has over $18 billion in assets, and is ranked as the 9th largest credit union in the U.S., and the 2nd largest in Utah.
Through the partnership with Mountain America, CULA will further extend its footprint in the Intermountain West region, originating leases in Utah, Idaho, Montana, Oregon and Washington, and expanding its presence in Wyoming and Nevada.
"We are committed to help our members define and achieve their financial dreams, and provide them with convenient, flexible products and services. Today's rising vehicle prices are a significant concern for credit union members, and we are pleased, through this new partnership with CULA, to be able to offer the more flexible, affordable option of vehicle leasing," said Jade Beckman, vice president of indirect consumer lending at Mountain America Credit Union. "We chose CULA because of their decades of enabling credit unions to offer indirect vehicle leasing, and their dedication to customer service, which sets them apart in our industry."
CULA enables credit unions to easily add vehicle leasing to their portfolios and dealers to offer their customers more finance options, through its indirect vehicle leasing program that handles the intricacies of leasing for its clients – including analytics, insurance, operations, compliance and more.
"Mountain America has long been one of the nation's most progressive credit unions, with a nearly 100-year history. We are proud that they are joining the CULA program and we look forward to helping them enjoy the benefits that vehicle leasing can provide for their members, while further diversifying their portfolio and increasing yield," said Ken Sopp, President of CULA.
Mark Chandler, Vice President of Business Development for CULA also acknowledged the company's ongoing partnership with Origence which has played a key role in recent expansion: "We value our relationship with Origence, and are excited to continue working with their fantastic team as we bring vehicle leasing to Mountain America and further expand our national presence."
CULA, which has added 12 credit unions to its indirect leasing platform in the past year, has been the leader in indirect vehicle leasing for credit unions for over 30 years, with the largest number of credit union partners, and longest combined tenure with credit unions. The company experienced record growth in the last two years, and originated 64,000 leases through its credit union partners in 2022, up from 50,000 in 2021. CULA partners with the industry's most innovative credit unions, including nine of the top 10 credit unions offering leasing in the U.S.
About Mountain America Credit Union
With more than 1 million members and $18 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile-banking technology, over 100 branches across six states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.
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 30 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 https://www.cula.com/ to learn more.
Media contacts:
Angela Jacobson, mWEBB Communications, angela(at)mwebbcom(dot)com, (714) 454-8776
Melanie Webber, mWEBB Communications, melanie(at)mwebbcom(dot)com, (949) 307-1723
SOURCE CULA
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