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How CUDL’s SmartFund Modernizes Credit Union Financing

  • by CUDL Team
  • November 30, 2023

Technology and automation are changing how we do business, and the automotive industry is no exception. One area of the car buying process that is ripe for change is financing. By integrating CUDL SmartFund technology into the financing process, modern dealerships see faster credit union funding, significant efficiency gains, and happier car buyers.

It all starts with the CUDL credit union financing network. With more than 1,100 credit unions across the country connecting to over 19,000 dealerships, CUDL is the country’s largest credit union financing network.

CUDL SmartFund allows dealerships to electronically upload and transmit imaged copies or fax all loan documentation to CUDL credit unions instantly. The benefits to your dealership are far-reaching:

Expedite funding. SmartFund allows credit unions on the CUDL network to process and fund dealers as quickly as the next day. The digital platform speeds contracts-in-transit to increase the free cash flow you need to replenish inventory and sell more cars.

Reduce cost. A paper trail of loan documents can get costly, fast. The need for postage, shipping, or paying to send a runner all add up. SmartFund allows you to submit loan documentation immediately with no waiting and no added expense.

Simplify the loan process. Missing documents delay funding. SmartFund reduces funding delays by pinpointing and expediting missing documents through digital delivery.

Reduce re-keying. Re-entering information into multiple systems is inefficient and prone to human error. Secure DMS and/or CRM integrations mean data flows seamlessly between your systems and the CUDL platform to help you work more efficiently and accurately.

SmartFund is so effective that 93% of indirect auto loans in 2022 submitted on the CUDL platform were digitally funded. Technology advancements such as SmartFund are why the CUDL network of more than 1,100 credit unions nationwide funded a record $446 billion in loans through 2022.

It is not just a technology but a strategy that helps you optimize your loan funding process and grow your business with credit unions. It is also a way to leverage technology and boost your dealership’s performance.

CUDL SmartFund is free for CUDL dealers to leverage and easy to implement. Learn more about CUDL and SmartFund or connect with one of our representatives. Discover how CUDL SmartFund serves as an intelligent way to embrace technology and grow your business with credit unions.



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