CUDL has announced the winners of its 2009 Auto Lending Best Practices Awards and Diamond Awards.
Eight credit unions were presented with the awards for auto lending efforts and success in four categories: Portfolio Growth and Risk Management, Business Development and Dealer Relations, Marketing to Members and Marketing AutoSMART to members. Two credit unions were awarded the CUDL Diamond Award for continued excellence and overall success in the auto lending marketplace.
"In today's challenging environment it is imperative that credit unions make auto lending a core competency," said Tony Boutelle, president/CEO of CUDL. "Congratulations to these credit unions that have made the effort and achieved the results."
Sikorsky Financial Credit Union in Stratford, Conn. and Community 1st Credit Union in Shoreline, Wash. were the Portfolio Growth and Risk Management award winners.
Northeast Credit Union based in Portsmouth, N.H. and New Jersey's Credit Union Auto Group were the winners of the Business Development and Dealer Relations award.
The Marketing to Members award went to FAA Credit Union in Oklahoma City and Erie Federal Credit Union in Erie, Pa.
New Generations Federal Credit Union in Richmond, Va. and Washington State Employees Credit Union in Olympia, Wash. were the Marketing AutoSMART to members award winners.
The two CUDL Diamond Awards went to Coastal Federal Credit Union in Raleigh, N.C. and Mountain America Federal Credit Union in West Jordan, Utah.
DealerTrack Adds Source
DealerTrack Inc., a provider of software and data solutions for the automotive retail industry, announced that it has reached 750 active financing sources that are connected to its network.
By using the DealerTrack network, dealerships can electronically submit credit applications to its network of banks, finance companies and credit unions. According to DealerTrack, approximately 90% of all franchised automotive dealers in the United States are active users of the network.
"Our achievement of this historic milestone for the DealerTrack network underscores our commitment to helping dealers succeed in this credit-challenged market," said Mark O'Neil, chairman/CEO of DealerTrack. "We believe the large and growing number of lenders on our network continues to provide a critical competitive advantage for our dealer customers by making more finance sources available to help them close sales."
DealerTrack is also a provider of dealer management systems and inventory management solutions. It has over 500 credit union lending partners.