CUDL Complete Goes Live on East Coast
RANCHO CUCAMONGA, Calif. - CU Direct Corp. can now count credit unions on the East Coast among the users of its CUDL Complete full-service model. Two Florida credit unions - the $193-million Sarasota CU and the approximately $40-million West Coast Employees FCU also in Sarasota - went live in July. CU Direct says a third Florida CU "is well into the implementation process." CUDL Complete began operations in September 2004. Among the services it provides are: processing by CUDL of all of a CU's applications received through the CUDL dealer network; use of each individual CU's underwriting and decision criteria in CUDL's automated decision engine; timely application turnaround decisions to dealers; follow up for missing or incomplete documentation and assistance in perfecting titles; and back office processing and forwarding of complete loan package to the CU. CUDL Complete also provides a variety of support services and training. While CUDL Complete is suitable for credit unions of all sizes, CU Direct's VP of Lending Mike James said CUDL allows CUs the flexibility to offer indirect lending services without the overhead and gives them the technology, expertise and processing power to complete in the indirect lending market just as effectively as larger CUs do.