CU Direct Builds Auto Lending Roster
Nine more credit unions have signed partnership agreements with CU Direct Corp., a provider of lending and automotive services.
According to the Ontario, Calif.-based CUSO, the newest partners are:
- $9.7 billion SchoolsFirst Federal Credit Union, Santa Ana, Calif.
- $3.8 billion Ent Federal Credit Union, Colorado Springs, Colo.
- $1.2 billion NASA Federal Credit Union, Upper Marlboro, Md.
- $780 million St. Mary’s Bank, Manchester, N.H.
- $497 million Merrimack Valley Federal Credit Union, Lawrence, Mass.
- $432 million 121 Financial Credit Union, Jacksonville, Fla.
- $388 million Resource One Federal Credit Union, Dallas
- $302 million Linn Area Credit Union, Cedar Rapids, Iowa
- $245 million Rhode Island Credit Union, Providence, R.I.
CU Direct said it has signed new partnership agreements with 80 credit unions thus far in 2013. Currently, more than 1,060 credit unions nationwide are utilizing the CUSO’s lending solutions.
CU Direct’s partner credit unions collectively have experienced 16% auto loan growth this year, according to the CUSO.
Credit unions have funded 545,000 loans through CU Direct’s CUDL System thus far in 2013, totaling $12.2 billion in vehicle financing, the CUSO said.