ONTARIO, Calif. — CU Direct announced last week that it added 1,000 dealers to its CUDL auto lending network since reaching a record 10,000 dealers less than a year ago. The network, which is available in all 50 states, now includes 11,000 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, officials said.
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.”