ONTARIO, CA (March 6, 2014) -- CU Direct (www.cudirect.com), the nation’s leading provider of lending solutions to the credit union industry has announced that the company’s Board of Directors has approved a 3% cash dividend to its 102 credit union shareholders. This is the ninth consecutive year that the CUSO has paid a dividend to its shareholders.
During 2013 CU Direct signed new agreements with more than 100 credit unions including SchoolsFirst FCU, Dearborn FCU, ENT FCU, and Randolph-Brooks FCU. At year’s end 1,072 credit unions, serving 38 million members, were utilizing the CUSO’s industry-leading lending solutions.
CU Direct credit unions processed 723,000 loans through the company’s CUDL lending platform, generating a company record $16.3 billion in credit union auto loans in 2013. The CUSO helped its credit unions increase loan growth 19% in 2013 to become the sixth largest auto lender in the nation when aggregated together.
“We are pleased to once again provide a strong return on investment to our shareholders,” said Tony Boutelle, president and CEO of CU Direct. “We continue to deliver innovative lending solutions that help credit unions improve member auto buying and lending experiences, and grow their loan portfolios.”
About CU Direct
Established in 1994, CU Direct has helped the credit union industry fund over $138 billion in loans by being the nation’s leading lending and automotive solutions provider for credit unions. Representing more than 1,070 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members. CU Direct offers a diverse, extensive library of products and services designed to help credit unions advance their lending programs and achieve overall portfolio success. Solutions include CUDL, Lending Insights, Lending 360, OnSpot Financing, Vero, and its suite of auto buying products. For more information about CU Direct visit www.cudirect.com.