CUDL AutoSmart Program and Web Site Recognized for Excellence by Summit

RANCHO CUCAMONGA, Calif. -- The CUDL AutoSmart Program and Web site has been presented with Summit International's 2007 Marketing Effectiveness Award for outstanding achievement.

CUDL (www.cudl.com) administers the nation's largest point-of-sale and indirect auto lending
network for credit unions, and its Web site (www.cudlautosmart.com) competed against 500 entries globally in the B2B product campaign category.

Mike Federoff of CUDL demonstrated the Web site for Credit Union Times at the recent NADA conference in San Francisco. The site, he explained, was developed specifically for CUs and their member base. "Our CUDL members have a link from their credit union's Web site to AutoSmart's site, and it's cobranded site that's a one-stop shop for both new and used cars as well as a research portal on car buying. We customize the page to match the CU's colors and banner, so it's a transparent extension of the credit union's service."

While the educational value is real, the whole CUDL approach is to save members from going through the much-dreaded car buying rigmarole, he said. The site offers a car search, car buying tips and an expanded library of online automobile shopping resources like what questions to ask before going to a dealership. There's even a pocket-buying checklist, Federoff said. Using AutoSmart allows members to know the price of the car, a good idea of the value of any trade in and will even set up an appointment at a dealership.

As a result, the program provides credit unions with a key resource designed to enhance overall member satisfaction to drive financing to the credit union. "Dealers contract with CUDL to be a part of the program, and credit unions always have the right of first refusal on financing," said Federoff. "The dealer can sell add-ons, but the credit union sets the parameters of those add-ons like gap insurance to assure the member isn't being ripped off."

More than 5,000 auto dealers participate in the CUDL AutoSmart program, offering access to the 20 million members they represent. The AutoSmart program gives dealerships the ability to post vehicle inventories online, both locally and nationally, providing an additional advertising source to drive new sales. Currently, more than 385,000 vehicles from dealer inventories nationwide are listed on the AutoSmart web site.

AutoSmart was first launched in 2000 and the current iteration dates from two years ago, but it's always being improved, Federoff said. "Our goal is to provide our credit union partners with a program and online resource that will help increase member retention and grow their auto loan portfolio."

The most recent addition to the CUDL and AutoSmart program was Pennsylvania State Employees Credit Union in Harrisburg, which has the largest credit union automotive lending volume in the Keystone State. PSCU has 330,000 members and $2.9 billion in assets.

--cburger@cutimes.com