CU Direct Corp. and First Associates Loan Servicing have signed a new loan origination and servicing partnership agreement.
As a result of the alliance, CU Direct and San Diego-based First Associates will be offering a new loan servicing solution for credit unions that will cover CU Direct’s core automotive lending business, as well as enabling coverage of other asset classes, such as student loans, solar leases and loans, and personal loans, according to CU Direct.
The new product offering addresses all aspects of servicing, including billing and collections, the companies said.
A provider of portfolio backup solutions for credit unions and other financial institutions, First Associates clients include financial institutions, private equity groups, government agencies and other consumer finance entities.
The Ontario, Calif.-based CU Direct’s offerings include CUDL, Lending Insights, Lending 360, CUDL Retail, Vero, and a suite of auto buying products.