Direct Connect Reports Highest Monthly Volume
CENTENNIAL, Colo. -- Industry figures show that CU indirect auto lending may be making a comeback.
CU Direct Connect reported its highest indirect lending volume for the month of August. The Colorado CUSO funded over $126 million in indirect vehicle loans, the highest volume month since the CUSO was started in 2003. Also, Direct Connect data on their member credit unions' combined indirect auto portfolio from January 2008-August 2008 showed the yield on new members' loan average was approximately 31 basis points higher than for members who were already members at the time of the loan.