CUDL Partners With Par North America

Posted: 2010-10-12 00:00:00

CUDL PARTNERS WITH PAR NORTH AMERICA TO BRING CREDIT UNIONS AUTOMOTIVE ASSET RECOVERY SOLUTIONS

Ontario, CA, October 12, 2010  CUDL (www.cudl.com), the nation’s leading indirect and point-of-purchase auto lending solutions CUSO, has announced that it has entered into an agreement with PAR North America to help credit unions advance their vehicle recovery efforts and processes.

 As a result of the agreement, CUDL will be able to offer PAR’s comprehensive suite of automotive asset recovery solutions, including repossession, skip trace and title services, to its credit union partners.  Further, these services will compliment the asset disposition solutions CUDL already offers through similar alliances with GE Capital and Manheim.

“We are thrilled to begin our alliance with CUDL and their credit union network,” said Jerry Kroshus, PAR North America President. Kroshus added, “The opportunity to assist credit unions with their recovery, skip and title processing is very exciting. We are confident we can make a positive impact for their back-end solution needs.”

“PAR will bring added value and benefit to our clients by providing innovative vehicle recovery solutions and services that are vital to credit unions vehicle repossession and disposition efforts,” said Jerry Neemann, executive vice president and CSO of CUDL.  “This alliance will provide our credit unions with the unmatched combined industry experience and expertise of PAR, GE Capital and Manheim to help maximize their overall program success.”

About PAR North America

Based in Carmel, IN, PAR North America, a subsidiary of ADESA, is a nationwide provider of vehicle transition services including repossession placement, titling, skip-tracing, and collections/loan servicing. Cutting edge web-based technology connects PAR’s clients and vendors with customized, real-time solutions. For more information, visit the company’s Web site at www.parnorthamerica.com.

About CUDL

 Based in Ontario, California, CUDL^® (a CU Direct Corporation brand) is the leader in indirect and point-of-purchase lending services for the credit union industry.  As a Credit Union-owned Service Organization, CUDL develops custom applications, training and marketing programs to help credit unions achieve their indirect vehicle lending goals.

More than 860 credit unions and 6,600 dealerships nationwide rely on CUDL’s national lending network to better serve members’ vehicle shopping needs and drive member financing at the point-of-purchase.  For more information about CUDL visit www.cudl.com and www.cudlautosmart.com.