CU Direct Corp. announced Monday the purchase of key assets from Lifestyle Lending Solutions, a retail and medical lending firm.
As a result of the transaction, the Ontario, Calif.-based CU Direct said it will be better positioned to service credit unions in the retail lending marketplace and advance its national retail lending network.
Established in 2007 Lifestyle Lending Solutions in Salt Lake City is recognized as a leading retail and medical lending solutions provider focused on the niche market of lifestyle lending, and catering specifically to the credit union industry, according to CU Direct.
Lifestyle Lending has a network of more than 750 merchants in 16 states.
Kirk Harris, founder of Lifestyle Lending, has joined CU Direct as product director, retail lending and will take on leadership of both the Lifestyle Lending products and the CUDL Retail products, CU Direct said.
CU Direct, the parent company of CUDL, Lending Insights, Lending 360, CUDL Retail and Vero brands, said it now serves 1,020 credit unions.