CUDL to Represent CUs at National Auto Dealer Conference
CUDL will be representing its more than 900 partnering credit unions at the National Automobile Dealers Association (NADA) Convention for the eighth consecutive year. The convention will take place Feb. 5 to 7 at the Moscone Convention Center in San Francisco.
CUDL plans to further advance dealer awareness of the value of its growing credit union lending network and benefits of a strong alliance between credit unions and dealers. CUDL will also be highlighting the expanding suite of solutions it bringing to dealers. The largest event for automobile dealers in the U.S., the NADA convention draws attendance from approximately one third of all U.S. dealerships.
Although credit unions have faced strong competition in 2010, with the return of banks and other lenders to the auto lending marketplace, credit unions have seen their market share gain momentum the second half of the year, going from a low of 16.2% in March to a year-to-date market share of 17.6% in November.
CUDL continued to experience growth with its national auto lending network in 2010, signing 151 new credit unions and 1,158 new dealerships. Currently, CUDL's national lending network includes 6,900 dealerships and 920 credit unions representing 27.5 million members nationwide.