CU Direct has helped its aggregate of credit unions fund more than $16.1 billion in the first half of the year – a record high for the company. The company originated 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms over the first six months of 2016 — a 16.4% increase over the same time a year prior.
Combined, the company’s credit union partners experienced higher auto origination growth, according to AutoCount Data, than any other lender ranked as the nation’s top 10, including Wells Fargo Dealer Services and Ally Financial Inc., the company said in a press release yesterday.
“CU Direct is excited to help our partner credit unions increase auto lending scale and efficiency, improving overall market share and creating a better member experience,” Tony Boutelle, CU Direct’s president and chief executive, said in a press release. “We are committed to delivering innovative technology, products, and services that help credit unions make more loans and improve their members’ auto buying and auto lending experiences today and in the future.”
CU Direct, founded in 1994, now represents more than 1,000 credit unions and works with more than 12,600 dealer partners.
For more auto finance insights like this, register for the upcoming Auto Finance Summit, Oct. 5-7 at Bellagio Las Vegas. Visit www.AutoFinanceSummit.com for more information.
