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CUDL's AutoSMART Site Posts Record Number of Participating Credit Unions and Dealers

June 26, 2007

LAS VEGAS - CUDL (CU Direct Corporation), which administers the nation’s largest point-of-sale and indirect lending network for credit unions, announced that its CUDL AutoSMART program and Website has reached a record number of credit union and auto dealer participants.

With the 9th Annual Auto Lending Symposium for credit unions as the backdrop, the company revealed that 453 credit unions, representing 15 million members, and 3,959 auto dealers were now participating in the company’s AutoSMART program, which includes the AutoSMART vehicle shopping Website (www.cudlautosmart.com).

In addition to the record number of participating credit unions and dealers, CUDL also announced that the AutoSMART Website reached new milestones in the number of online visitors and inventoried vehicles posted to the site. The company reported that for the third month in a row over 39,000 credit union members visited the site, while the number of vehicles posted to the site by dealers hit an all time high of more than 272,000 units in May.

The company also unveiled a number of new enhancements to the AutoSMART site during the Auto Lending Symposium, including: an HTML free-flow message board, which allows credit unions to post their own content directly to their own branded AutoSMART site; the ability for credit unions to post their vehicle repossessions directly to the vehicle inventory seen on the AutoSMART site; and a new car build option, which provides members the ability to begin building their new automobile by vehicle category, such as SUV, sedan, truck or convertible.

The vehicle shopping site offers credit unions a flexible, versatile site that can be marketed as their own, by providing many content options for enhanced credit union branding and customization. Credit unions have the ability to customize much of the site’s content and features that they offer to their members, making the program a seamless extension of their own site, enhancing member satisfaction, and driving member financing.

“Through years of working closely with our credit union clients, we have endeavored to provide a robust research site that credit unions can make their own and that will provide them the means and capabilities to retain member financing and help grow their auto loan portfolio” said Mike Federoff, CUDL’s associate vice president of products. “The AutoSMART site greatly enhances the credit union’s value proposition to the member, by providing a highly refined, user-friendly site with the most up-to-date tools and information to help members in researching and planning their next automotive purchase.”

“Our ability to customize site content and features has enabled us to greatly enhance member satisfaction, significantly improving our ability to retain member financing,” said Shane Saunders, vice president, marketing at Pacific Oaks Federal Credit Union. “The site has also served as a valuable cross-sales and informational tool for our front line staff,” added Saunders.

Although the CUDL AutoSMART Website is designed specifically for CUDL credit unions and their members, non-members also benefit from using the site. Non-members can take full advantage of the site’s research tools and capabilities, as well as the low credit union financing offered through the site. Non-members can access the site by visiting www.cudlautosmart.com.

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