CU DIRECT CORPORATION SIGNS NEW PARTNERSHIP AGREEMENTS WITH SEVEN CREDIT UNIONS
Ontario, CA, December 6, 2012 --- CU Direct Corporation (www.cudirect.com), the nation’s leading provider of lending solutions to the credit union industry, has announced that seven credit unions have signed new partnership agreements to further advance their auto lending programs.
As a result of the agreements, five credit unions will be integrating their back-office processing and loan origination with CU Direct’s CUDL auto lending platform, consisting of more than 1,000 credit unions, to advance their auto lending programs. CUDL credit unions represent the seventh largest auto lender in the U.S.
The credit unions, San Diego County Credit Union (235,388 members and $5,337,406,051 in assets); Philadelphia, Pennsylvania-based Police & Fire Federal Credit Union (202,274 members and $4,036,439,018 in assets); East Hartford, Connecticut-based American Eagle Federal Credit Union (98,947 members and $1,412,897,871 in assets); Rye, New York-based USAlliance Federal Credit Union (54,055 members and $816,461,284 in assets); and Waltham, Massachusetts-based RTN Federal Credit Union (37,373 members and $722,970,914 in assets), will incorporate CU Direct’s products and programs to enhance their line-up of member product offerings and services, and to maximize their process and cost efficiencies.
“We are looking forward to our partnership with CUDL to provide a wider range of services to accompany the auto lending process for our membership,” stated Debra Plourde, vice president of consumer lending at American Eagle Federal Credit Union. “Our members began to see the advantage of the Smart Approval program right away. They enjoy the pre-approval certificate and the ability to close their loan directly at the dealership. We believe that our participation in the program will be an important contributor to the future growth of our consumer loan portfolio.”
“We’re proud to create an alliance with CU Direct Corporation,” said Teresa Halleck, San Diego County Credit Union® president and CEO. “The partnership between CU Direct and SDCCU® gives our customers and the greater community immediate and convenient access to SDCCU’s great rates and exceptional service.”
In addition, Michigan First Federal Credit Union (83,600 members and $643,813,757 in assets), based in Lathrup Village, Michigan, and KEMBA Financial Credit Union, (61,019 members and $525,596,978 in assets), based in Gahanna, Ohio, will be implementing CUDL’s extensive line-up of auto remarketing solutions. The credit unions will employ the remarketing solutions to deliver improved asset disposition results.
CU Direct has continued to experience growth with its national auto lending network, signing 92 new credit unions nationwide thus far in 2012. Currently, CUDL has more than 1,000 participating credit unions, representing 34 million members, and 8,600 participating dealers, nationwide.
“We look forward to the opportunity to work closely with each of our new credit union partners to help them advance their auto lending programs and achieve their member lending goals,” stated John Carrington, senior vice president of sales at CU Direct. "It is our commitment to provide them with the solutions and services that will effectively help them grow their marketplace success.”
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About CU Direct Corporation
Established in 1994, CU Direct Corporation has helped the credit union industry fund over $120 billion loans by being the nation’s leading lending solution provider for credit unions. Representing more than 1,000 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members. CU Direct Corp. offers a diverse, extensive library of products and services designed to help credit unions advance their lending programs and achieve overall portfolio success. Solutions include CUDL, Lending Insights, Lending 360, CUDL Retail, Vero, and its suite of auto buying products. For more information about CU Direct Corporation visit www.cudirect.com.