Another Dividend for CU Direct Owners
The 102 credit union shareholders of lending services CUSO CU Direct will receive their share of a 3% cash dividend.
The Ontario, Calif.-based CUSO said this is the ninth consecutive year that it has paid a dividend to its shareholders.
During 2013, CU Direct said it signed new agreements with more than 100 credit unions and at year’s end, 1,072 credit unions, serving 38 million members, were utilizing the CUSO’s lending services.
CU Direct credit unions processed 723,000 loans through the company’s CUDL lending platform, generating $16.3 billion in credit union auto loans in 2013, said the CUSO.
The CUSO also helped its credit unions increase loan growth 19% in 2013 to become the sixth largest auto lender in the nation when aggregated, according to CU Direct.