CU Direct Tops 11,000 Auto Dealers
Coming off a record 2013, CU Direct said its lending network has since expanded to include 11,000 auto dealerships.
The Ontario, Calif.-based auto lending service CUSO said the new milestone comes after hitting the 10,000 dealer milestone less than a year ago. The CUDL network includes dealers in all 50 states, the company said.
“The increase in dealership participation we have experienced over the last few years further underscores the value dealers see in partnering with credit unions and using our expanding lending network,” said Jerry Neemann, CU Direct’s executive vice president of automotive solutions.
CU Direct said its credit union clients generated $16.3 billion in auto loans through the CUDL network in 2013. And, its affiliated credit unions have experienced 21% growth in funded loans thus far in 2014.
The auto lending network includes more than 1,100 credit unions, representing 38 million members nationwide, according to the company.