CU Direct facilitated the origination of $30 billion in auto loans for its collective group of credit union partners in 2016, surpassing the previous year’s record breaking figure of $26 billion, the online auto financing platform announced in a press release.
That origination growth clocks in at 16% year over year, which data from Autocount suggests is among the highest rates of the top nine lenders in the nation, the release states.
The company’s Lending 360 and CUDL lending platform funded 1.4 million loans in 2016 through the addition of 55 credit unions to total 1,048 financial partners serving 44.5 million members, the company said.
“Credit unions continue to demonstrate that they can compete with banks and win in the auto lending marketplace,” said Tony Boutelle, president and chief executive of CU Direct. “Our goal is to deliver innovative lending technology and solutions that help credit unions improve efficiencies, get faster, and make more loans.”
