Ontario, CA, April 24, 2014 -- CU Direct (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.