Credit Union Journal Article: CFPB Is Zeroing In On Buy Rate Auto Financing from March 25, 2013
The Consumer Financial Protection Bureau may be zeroing in on buy rate financing, a move that could help level the indirect auto lending playing field between banks and credit unions.
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CU Times Article: Indirect Looks to Lead Again in Lending Dance from February 27, 2013
Thick in the heyday of originating indirect loans, credit unions basked as the slices of their auto lending portfolios swelled to historic proportions.
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CU Times Article: Auto Repossessions Need Many Benchmark Tests from January 23, 2013
Call to Make Disposition of Repossessed Vehicles Efficient, Timely and Cost Effective. As the recession snaked its way into the economy in 2008, credit unions braced for the impact it would have on members in unemployment, rising debt and underwater mortgages. The auto industry took a massive hit back then, including an increase in vehicle repossessions. At U.S. credit unions, repossessions reached $317 million in 2008, according to CU Direct Corp., an indirect and point-of-purchase lending service CUSO based in Ontario, Calif. Fast forward to 2012 and credit unions have managed to reduce the volume of repossessed vehicles. In the last year, the quantity and dollar volume declined by 16% to just under $145 million, with the credit union average value per repossessed vehicle at $10,161 at the end of the second-quarter 2012.
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Credit Union Journal Article: Credit Union's Must Re-Map Their Route In Auto Lending from September 3, 2012
For CUs to get their share of loans from rising new car sales, they must rethink how they approach new car lending. That's the take of several CU lenders and auto market experts who agree the challenges brought on by intense competition from all sides-captives, banks, and credit unions themselves-demand that CUs be even savvier about how they go after this market. What worked in the past, before the recession pulled millions of new car buyers off the market, may not today.
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Credit Union Journal: Auto Sales Enter The Fast Lane from May 14, 2012
Predictions that 2012 would see a strong boost in new car sales apparently are proving to be true. According to the latest national car sales numbers obtained by Credit Union Direct Lending (CUDL), the seasonally adjusted annual rate (SAAR) for new car sales hit 15 million units in February and is still above 14.5 million. That is markedly above 12.7 million units, where the U.S. auto market finished 2011.
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Credit Union Times Article from November 10, 2010
CUDL in Pact With PAR
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Automotive News Article from September 27, 2010
Loan aggregators do legwork for dealers
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Ward’s Dealer Business Article from September 20, 2010
Credit Unions Fight to Keep Auto-Lending Gains
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Finance & Insurance Report Article from June 23, 2010
Long at Odds, Dealers and Credit Unions Discover Common Ground with Indirect Loans.
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Automotive News Article from June 23, 2010
Long at odds, dealers and credit unions discover common ground with indirect loans
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CU Journal Article from May 17, 2010
Stay on Road: The Future of Car Loans
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CU Journal Article from May 17, 2010
CUDL Unveils SMART Approval Program During Symposium
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Automotive News Article from May 3, 2010
Super Flat Fees Gain Traction
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F&I Showroom Magazine Article from April 12, 2010
CUDL Credit Unions Break Into Top Five.
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CU Journal Article from March 15, 2010
Hurry Up and Rate – The Competition for Auto Loans.
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Credit Union Times Article from February 24, 2010
Competition Rains on Auto Lending.
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CU Business Magazine Article from February 1, 2010
Credit Union Service Organizations: Their Crucial Role in Credit Union Lending.
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CU Business Magazine Article from September 1, 2009
Punch It! Shift Auto Loans Into Overdrive!
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