CU Direct, a strategic partner of the New York Credit Union Association, announced a new partnership with CU Direct Connect, an industry provider of vehicle lending and origination funding platforms.
Here are the complete details from CU Direct:
FOR IMMEDIATE RELEASE:
Bill Meyer 909.481.2360 email@example.com
New Partnership Strengthens Credit Unions’ Ability to Compete in an Expanded Indirect Lending Landscape
Ontario, California – June 19th, 2018 – CU Direct, the nation’s leading developer of lending software technology to the credit union industry, has announced a new partnership with CU Direct Connect (CUDC), an industry provider of vehicle lending and origination funding platforms. The collaborative agreement leverages the strengths of the two largest indirect lending credit union service organizations to better meet the growing indirect lending needs of credit unions, and strengthen the position of the credit union industry nationally with auto dealers.
As a result of the partnership, CUDC will be able to provide CU Direct’s industry-leading CUDL auto lending network/platform to its credit union partners. The CUDL platform, with 14,000 dealers nationwide, will provide CUDC access to new expansion markets, as well as an opportunity to offer their full service indirect auto loan origination model to prospective new credit unions in those expansion markets via the CUDL platform. By providing the platform to its current credit unions and dealers, CUDC will help further expand the CUDL network nationally in both breadth and depth.
The agreement gives credit unions a greater unified focus on a credit union specific indirect channel that distinguishes them from banks and finance companies. The partnership exemplifies the cooperative model of credit unions, enhancing each participating credit union’s ability to compete in an expanded indirect lending landscape regardless of asset size. Further, dealers gain a simplified access to new lending partners through this collaborative effort, magnifying the value of services offered by both organizations.
“Our CUSO has always valued and promoted collaboration between our member credit unions. Therefore, it only makes sense that CU Direct and CU Direct Connect should collaborate for the mutual benefit of all our credit unions,” noted Blair Korschun, President/CEO, CU Direct Connect. “This collaborative agreement will make new, competitive credit union lending options available to our dealer partners with the highest service levels, fast decisions and fast funding. The true winners from our agreement are our mutual credit union consumers who will now have a greater opportunity to get their auto loan or lease from their credit union of choice.”
“We’re excited about the new partnership between the two companies, and what it brings to our credit union partners,” notes CU Direct’s president and CEO, Tony Boutelle. “We look forward to working with CU Direct Connect to provide the CUDL platform to their credit unions and to advancing the overall success of our respective credit union partners in the auto lending marketplace.”
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