Credit unions ramping up their abilities to serve their customers digitally is playing an ever-increasing role in satisfying auto-lead and auto-loan origination for their dealership partners.
Credit Union industry’s largest auto lending platform expands DMS/CRM integration to include DealerSocket, streamlining the application process for dealers and customers.
Credit unions, and dealerships alike, felt the pandemic's brunt. By working together, mutual customers are more advantaged than ever because of a shared goal to service them better.
ICC’s Command Center software enables CU Direct to more easily manage the 2.5 million vehicles in dealer partner inventory on the AutoSMART platform and shopping site.
Credit unions and captives continued to take advantage of the pullback by banks in the second quarter. The message coming out of CU Direct (CUDL)’s Sept. 28 webcast is that credit unions need to act fast before banks reconfigure their strategies.
With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.
Credit unions funded 1.4 million loans through CU Direct’s Lending 360 and CUDL lending platform, generating a record $30 billion in credit union auto loans in 2016 and surpassing the $26 billion in loans the company funded in 2015.
The more than 1,000 credit unions using CU Direct’s CUDL Lending Platform have generated one million loans year to date, surpassing Ally Bank in loans originated this year.
This integration enables F&I departments using MaximTrak to deliver e-contracting functions between the technology firm's F&I platform and Fidelis' prepaid maintenance software, providing dealerships with a paperless solution for presenting, validating, and registering Fidelis products.
Ron Frey, former chief strategy officer and president of AutoNation Direct, has joined CU Direct as chief strategy officer of its automotive solutions. He will oversee the planning and direction of automotive solutions for the credit union technology provider.
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