Ontario, CA, June 27, 2013 -- CUDL (www.cudl.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 10,000 dealers.
The company revealed that the CUDL lending network reached the record milestone with the growth of over 1,000 dealers in the last year, including dealer expansion as a result of their new operation in Quebec, Canada. The CUDL network includes more than 1,050 credit unions, representing 35 million members nationwide. CUDL credit unions have experienced 16% growth in funded loans thus far in 2013.
For more than 20 years, CUDL’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 sell more cars.
“I congratulate CUDL for reaching the significant milestone of 10,000 dealers using the CUDL system,” notes John Lund, president and CEO of Riverdale, Utah-based America First Credit Union, and chairman of CUDL’s Board. “This indicates just how relevant the services of CUDL are to dealers throughout the country. The outstanding products and services offered by CUDL provide a winning solution for dealers, credit unions, and most importantly credit union members.”
“We have truly enjoyed our relationship with CUDL over the last six years. It has provided us with the opportunity to reach a larger customer base, that being the credit union member,” says Tim Rivers, finance director for San Antonio, Texas-based Gunn Honda. “With the CUDL platform we have also been introduced to new lenders that were unavailable to us prior to the relationship being formed. In addition, with the SMARTFund feature, we are being funded much faster, decreasing our Contracts in Transit, and increasing our cash flow.”
About CU Direct Corporation
Established in 1994, CU Direct Corporation has helped the credit union industry fund over $120 billion loans by being the nation’s leading lending solution provider for credit unions. Representing more than 1,000 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members. CU Direct Corp. 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 Corporation visit www.cudirect.com.