DULUTH, Ga. — In just over one year after entering the indirect lending business, The Credit Union Loan Source, LLC, a multi-owned CUSO, reached the $100 million mark in serviced assets which represents about 4,600 motor vehicle loans.

CULS is owned equally by Atlanta Postal CU, Delta Community CU, Georgia Telco CU, and the Georgia Credit Union Services Corp.

The CUSO provides indirect financing for motor vehicles through over 450 dealerships in Georgia, Florida and Colorado. CULS partners with Aimbridge Indirect Lending, Denver, Colo., for technology and dealership relationship support.

The CUSO funded its first loan in mid-April 2005.

It funds vehicle loans and then packages participations in those loans for sale to NCB, FSB, a subsidiary of the National Cooperative Bank which in turn resells the loan participations to participating credit unions. CULS continues to service the loans for the participant credit unions.