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CUDL to Represent Its 1,000 Credit Unions at the 2013 National Automobile Dealers Association Convention and Exposition
Owners of Credit Union Industry’s Largest Auto Lending Network Continues Efforts in Promoting the Benefits and Impact of an Expanding Credit Union-Dealer Alliance
Ontario, CA, December 20, 2012 ¾ CUDL (http://www.cudl.com/), administrators of the nation’s largest auto lending network for credit unions, has announced that the company will be representing its more than 1,000 credit union partners at the National Automobile Dealers Association (NADA) Convention (www.nada.org) for the tenth consecutive year. The nation’s largest dealer convention takes place February 8th through February 11th, 2013 at the Orange County Convention Center in Orlando, Florida.
During the convention, CUDL will be promoting its growing credit union network, as well as the benefits of a strong credit union and dealer alliance. CUDL will also be showcasing its suite of solutions during the event, including the AutoSMART program, and the CUDL Dealer Portal site.
AutoSMART is the credit union industry’s premier vehicle research website, with over 1 million cars in dealer inventory, and connecting more than 7,000 participating AutoSMART dealers to more than 1,000 credit unions and their 34 million credit union members nationwide. The CUDL Dealer Portal offers a state-of-the art site that helps dealers secure credit union financing for their customers and access pre-qualified credit union members that are in the market for an automobile.
Vero, a subsidiary of CUDL, will be highlighting an extensive line-up of industry-leading aftermarket products that help dealers retain customers, improve efficiencies, and increase profits.
As the largest event for automobile dealers in the U.S., the NADA convention draws attendance from approximately one third of all U.S. dealerships.
Credit unions have continued to grow auto lending market share in 2012, as their monthly market share has grown from 16.3% in March to 18% in September. Year-to-date, credit union market share stands at 17.6%, after closing 2011 at 16.9%. CUDL credit unions are the eighth largest auto lender in the nation, and have experienced 27.4% growth year-to-date. Through November of this year, CUDL credit unions have funded 600,000 auto loans totaling more than $12 billion.
CUDL has grown its national auto lending network in 2012 to include more than 9,000 dealerships and 1,050 credit unions, serving 34 million members, nationwide, reinforcing the important role credit union and dealer relationships are playing within today’s industry.
“Our participation at the convention continues to focus on increasing dealers’ understanding of the benefits of the credit union-dealer relationship, as well as the value of our credit union-based lending network and the many solutions we provide to help dealers grow their bottom lines,” states Jerry Neemann, CUDL’s executive vice president, CUDL Automotive. “Over the last decade, we have seen significant progress in auto dealers’ appreciation of credit unions and the advantages of credit union-dealer relationships.”
For more information about CUDL, Vero, and a full line-up of available products and services, attendees can visit the CUDL/Vero booth, #1221, at the convention.
About CUDL
Based in Ontario, California, CUDL® (a CU Direct Corporation flagship 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 1,000 credit unions and 9,000 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 http://www.cudl.com/ and www.cudlautosmart.com.