CU Xpress Lease Inc., a leasing program for credit unions, saidit has surpassed its monthly goal of $1 million in auto leasingactivity nearly four months after launching.

The Hauppauge, N.Y.-based program made its debut with the $180million Pinnacle Federal Credit Union in November. During theensuing months, a dealer network was established and a trainingmechanism put into place to enable the credit union to process thevolume of anticipated loans.

Because of Pinnacle's success, discussions are under way withother New Jersey credit unions to launch similar programs, saidDomenick Pupo, CU Xpress director of business development. “We helpfill a void when manufacturers and auto manufacturer finance armsstep away from specific vehicles,” Dupo said. “This allows ourcredit union partners to offer lease specials to both our autodealer network and their customer base, thereby making the creditunion partners very relevant and visible.”

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