Credit Union Acceptance Company, LLC (CUAC) and Down East Credit Union announce the formation of Credit Union Lending Alliance of New England (CULANE), a new credit union service organization

HOUSTON, TX (March 9, 2018) — On March 6, 2018, Credit Union Acceptance Company and Down East Credit Union, announced the official launch of their joint indirect auto lending venture.  CULANE is a Credit Union Service Organization (CUSO), headquartered in Baileyville, Maine and will utilize CUAC’s dynamic loan origination technology, Dealertrack™ and Route One™ dealer application platform connection, best indirect lending practices, and expertise.  Along with resources provided by Down East Credit Union, CULANE will help Credit Unions in the New England states grow auto loans.

The decision for CULANE to partner with CUAC was to provide improved dealership loan application platforms, without the burden of applicant double entry by participating dealerships.  Additionally, with CULANE, owner and partner Credit Unions will approach participating dealers with a single rate schedule and loan policy, as to not compete with each other.  Lastly, CULANE will offer weekend and extended weekday hours for loan application review, giving Credit Union partners a competitive advantage by servicing their members during these busy car buying periods.

The formation of CULANE is an excellent story of how collaboration between Credit Unions and CUSOs can lead the industry to a place of mutual success.  In a business environment that is highly competitive, the CULANE and CUAC indirect lending models offer flexibility for participant Credit Unions and the ability for each to control their risk and the desired volume in a manner that leverages Credit Union membership, car-buying power, and lending muscle.

“I am enthusiastic in seeing this project come to fruition. CULANE will employ nine people at its start and service 11 Credit Unions and over 150 auto dealers across New England.” Says Daniel Daggett, Chief Executive Officer of CULANE. “As CULANE matures, we will strive to find partners who have or will embrace our no-barriers to entry approach to doing business, and expand our reach into all New England states.”  Adds Daniel Daggett.

Adrian Dominguez, Chief Executive Officer of CU Alliance, expressed:  “CU Alliance is very excited about the opportunity to collaborate with yet another CUSO partner in the indirect auto lending marketplace.  CULANE is one more startup CUSO that CUAC has been a part of to offer in-market, world-class indirect lending for Credit Unions.  We are fortunate to have such great partners like Joe Moses and Dan Daggett at Down East Credit Union, as we launch this new CUSO in the New England states.”

About CU Alliance

Founded in 1998, CU Alliance, LLC (CUA) is a Credit Union Service Organization (CUSO) that offers multiple loan aggregation services for Credit Unions. Everyday Credit Unions compete to retain member automobile and home loans in a very competitive and technologically driven marketplace. CUA offers Credit Unions a way to respond by leveraging CUSO resources, best practices, and technology to help Credit Unions thrive in the consumer lending business.

CU Alliance, LLC, manages the operations of several Credit Union loan-growth products and services in several markets for more than two hundred Credit Unions and multiple CUSOs in 14 states by providing Indirect Auto Lending, Mortgage Products, Online Car Shopping Tools, Real Estate, and Insurance Services.

About CUAC

CUAC is the indirect auto lending division of CU Alliance, LLC, a Credit Union Service Organization (CUSO) formed in 1998.  CUA partners with 200+ Credit Unions and multiple CUSOs in 14 states to provide a range of automobile and mortgage lending products that help Credit Union partners grow loans responsibly.  For more information go to

About Down East Credit Union

Down East Credit Union (DECU) was founded in 1941 by employees of St. Croix Pulp and Paper Company. Since then, DECU has grown to over 20,000 members sharing the common bond with those who live, work, worship, attend school, or conduct business in Washington, Waldo, Hancock, Penobscot, Lincoln, Kennebec, Sagadahoc, and Knox Counties, and the towns of Brunswick and Harpswell in Cumberland County. For more information go to


John Riley
9601 Jones Rd. Ste. 108
Houston, TX 77065
832-912-2122 ext. 202

John Riley

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