CU Direct Partners with Colorado's CU Direct Connect to Provide Credit Unions an Increased Market Presence in the Auto Dealer Community
New Partnership Strengthens Credit Unions' Ability to Compete in an Expanded Indirect Lending Landscape
ONTARIO, Calif., June 20, 2018 /PRNewswire/ -- CU Direct, the nation's leading developer of lending software technology to the credit union industry, has announced a new partnership with CU Direct Connect (CUDC), an industry provider of vehicle lending and origination funding platforms. The collaborative agreement leverages the strengths of the two largest indirect lending credit union service organizations to better meet the growing indirect lending needs of credit unions, and strengthen the position of the credit union industry nationally with auto dealers.
As a result of the partnership, CUDC will be able to provide CU Direct's industry-leading CUDL auto lending network/platform to its credit union partners. The CUDL platform, with 14,000 dealers nationwide, will provide CUDC access to new expansion markets, as well as an opportunity to offer their full service indirect auto loan origination model to prospective new credit unions in those expansion markets via the CUDL platform. By providing the platform to its current credit unions and dealers, CUDC will help further expand the CUDL network nationally in both breadth and depth.
The agreement gives credit unions a greater unified focus on a credit union specific indirect channel that distinguishes them from banks and finance companies. The partnership exemplifies the cooperative model of credit unions, enhancing each participating credit union's ability to compete in an expanded indirect lending landscape regardless of asset size. Further, dealers gain a simplified access to new lending partners through this collaborative effort, magnifying the value of services offered by both organizations.
"Our CUSO has always valued and promoted collaboration between our member credit unions. Therefore, it only makes sense that CU Direct and CU Direct Connect should collaborate for the mutual benefit of all our credit unions," noted Blair Korschun, President/CEO, CU Direct Connect. "This collaborative agreement will make new, competitive credit union lending options available to our dealer partners with the highest service levels, fast decisions and fast funding. The true winners from our agreement are our mutual credit union consumers who will now have a greater opportunity to get their auto loan or lease from their credit union of choice."
"We're excited about the new partnership between the two companies, and what it brings to our credit union partners," noted CU Direct's president and CEO, Tony Boutelle. "We look forward to working with CU Direct Connect to provide the CUDL platform to their credit unions and to advancing the overall success of our respective credit union partners in the auto lending marketplace."
About CU Direct Connect
Formed in 2002, CU Direct Connect (CUDC) is a credit union service organization (CUSO) providing state-of-the-art vehicle lending and origination funding platforms utilized by credit union members and auto dealer partners. CUDC enables any size credit union to generate auto loans and acts as a risk consultant to all partners. The organization is based in Colorado and currently serves more than 40 credit unions for vehicle lending, which supports the large number of auto dealer partners currently enrolled in the CUDC program. CUDC, through its member credit unions, is collectively one of the largest auto lenders in Colorado and is a top 10 auto lender in Arizona. CUDC also operates in Washington, Wyoming, Florida, Texas, Georgia, Nevada and Illinois. For additional information visit CUDirectConnect.com | GetACreditUnionLoan.com.
About CU Direct
For more than twenty years, CU Direct has been a lending technology leader, helping credit unions fund $211 billion in loans. More than 1,100 credit unions rely on CU Direct's solutions to generate loans, create efficiencies, and grow membership. From CUDL, the industry's number one auto lending platform, to the industry's revolutionary Lending 360 Loan Origination System, and Lending Insights dynamic analytic tools, CU Direct develops the technology that helps credit unions advance their lending programs and overall portfolio success. 14,000 auto dealers nationwide use CU Direct's automotive solutions to connect with credit unions and their members to drive sales and increase their bottom lines. For more information, visit cudirect.com. Connect with CU Direct on Twitter and LinkedIn.
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SOURCE CU Direct
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