Auto Financial Group announced today that it completed the acquisition of Credit Union Leasing Administration of Canada Ltd. on August 1. CUL Administration of Canada provides a turnkey program to Canadian credit unions to enable them to participate in consumer and commercial automobile leasing. Peter Birks, President of CUL Administration of Canada, will continue to run operations as the company integrates with Auto Financial Group.
AFG’s growth into new markets demonstrates its commitment to financial institutions across the United States and Canada to meet the rising consumer demand for residual based financing.
"We are excited to welcome CUL Administration of Canada to the AFG team and look forward to their contributions,” said Richard Epley, Chief Executive Officer of Auto Financial Group. “The acquisition is perfectly aligned with Auto Financial Group’s mission to provide innovative, revenue producing programs to financial institutions and will position the company for continued growth and success in the future.”