Southeastern League Inks Indirect Deal
Credit unions in Alabama and Florida will have another indirect auto lending source thanks to the League of Southeastern Credit Unions & Affiliates.
LEVERAGE, the service corporation for the league, has partnered with CRIF Lending Solutions, a national provider of loan and account origination services.
A division of CRIF Lending Solutions, CRIF Select connects lenders and their borrowers with local auto dealerships through its technology, call center support and outsourced loan processing services, the league said.
“Many of our credit unions are looking for an indirect lending solution to aggressively capitalize on the rapidly expanding indirect auto lending market,” said LEVERAGE President/CEO Patrick La Pine.
In 2013, credit unions collectively saw a 4% growth rate in new auto loans and a 3% jump in used auto loans, according to the league.
The trade association for Alabama and Florida’s credit unions, the league said it represents 278 credit unions with $65 billion in assets and 6.6 million members.