RANCHO CUCAMONGA, Calif. — Wescom and other credit unions may have pulled in the reins on indirect auto lending as a membership strategy, but the head of the industry's largest indirect provider said it's not affecting his business much.
"Ironically, our business is actually quite good," said CUDL President/CEO Tony Boutelle. "We've experienced record revenue the last few months, not because things are all that good out there, but rather because we have a few things happening."
Boutelle said CUDL currently has about 700 credit union clients, which is an all-time high. New clients are picking up the slack left by scaled-back credit unions like Wescom, he said. In fact, CUDL's July numbers are 10% over budget, funding $1.1 billion last month alone.
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