CU Direct Signs New Partnership Agreements with Nine Credit Unions
ONTARIO, CA (August 29, 2013) — CU Direct Corporation (www.cudirect.com), the credit union industry’s largest lending solutions CUSO, has announced new partnership agreements with nine credit unions.
As a result of the agreements, the credit unions will be incorporating products from CU Direct’s suite of auto lending solutions to drive loan growth, business efficiency and improved member satisfaction. Currently, more than 1,050 credit unions nationwide, serving 34 million members, are utilizing the CUSO’s lending solutions.
New partner credit unions include: Dearborn, Michigan-based DFCU Financial (214,985 members and $3.5 billion in assets); Lakeland, Florida-based Mid Florida Credit Union (195,354 members and $1.9 billion in assets); Eau Claire, Wisconsin-based Royal Credit Union (146,770 members and $1.3 billion in assets); Jonesville, Florida-based Campus USA Credit Union (66,772 members and $1.1 billion in assets); Lowell, Massachusetts-based Jeanne D’Arc Credit Union (59,079 members and $1.0 billion in assets), as a new partner to Indirect Auto Solutions CUSO; Edgewood, Maryland-based APG Federal Credit Union (99,973 members and $1.0 billion in assets); Lowell, Massachusetts-based NMTW Community Credit Union (25,540 members and $543.5 million in assets); Salem, Oregon-based MAPS Credit Union (44,336 members and $445.3 million in assets); and Middletown, Rhode Island-based People’s Credit Union (27,821 members and $388 million in assets).
“The partnership with CU Direct will help DFCU Financial enhance our relationship with our members and advance our overall auto lending program,” said Mark Shobe, president and CEO, DFCU Financial.
CU Direct partner credit unions collectively have experienced 16% auto loan growth in 2013. As a result, CU Direct partner credit unions, as an aggregate, have become the fifth largest auto lender in the nation, up from the seventh largest in 2012.
“We look forward to working closely with each of our new credit union partners to help them advance their auto lending strategy and business lending effectiveness,” stated Tony Boutelle, president and CEO of CU Direct.
About CU Direct Corporation
Established in 1994, CU Direct Corporation has helped the credit union industry fund over $120 billion in loans by being the nation’s leading lending solution provider for credit unions. Representing more than 1,000 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members. CU Direct Corp. 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 Corporation visit www.cudirect.com.