Credit unions funded a record 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms in the first half of 2016. That amounts to more than $16.1 billion in funded automotive loans.
Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.
CUDL Credit Unions became the fourth largest lending segment in the first quarter, growing their origination count by 25.4%.
The company’s CUDL auto lending network reached a new milestone, adding 1,000 dealers since breaking the 10,000-dealer mark less than a year ago. Official also report that CU Direct credit unions generated a record $16.3 billion in auto loans through the network last year.
CU Direct will showcase the latest generation of its vehicle-shopping website, as well as its new Auto PREMIER concierge program.
CU Direct Corporation partners with Canada’s largest credit union to develop eSpaceAuto.com, which will connect its members to 2,200 auto dealer and merchant partners throughout Quebec.
New executive brings track record of strategy development, execution and organizational management experience.
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