CU Direct, First Associates Loan Servicing, LLC, Partner on New Loan Servicing Solution

New Best-in-Class Loan Origination and Servicing Solution to be Offered to CUs
Ontario, CA | March 12, 2013

Ontario, CA, March 12, 2013 -- CU Direct (www.cudirect.com), the nation’s leading provider of lending solutions to the credit union industry, has signed a new partnership agreement with First Associates Loan Servicing.

As a result of the partnership, CU Direct and San Diego, California-based First Associates will be offering a best in class loan servicing solution for credit unions. The new solution will cover CU Direct’s core automotive lending business, as well as enabling coverage of other asset classes, such as student loans, solar leases and loans, and personal loans.

“We are excited to be partnering with CU Direct on providing a best in class servicing solution for credit unions,” notes First Associates’ CEO David Johnson. “CU Direct is a strong leader in the credit union industry and a great partner for First Associates.”

A leading provider of portfolio back-up solutions for credit unions and other financial institutions, First Associates clients include financial institutions, private equity groups, government agencies and other consumer finance entities.

CU Direct and First Associates have confirmed that their new product offering, addressing all aspects of servicing, including billing and collections, has been rolled out and is now available. 

“CU Direct is looking forward to partnering with First Associates, a recognized leader in the loan servicing marketplace,” states Brent Hollingsworth, national director of strategic alliances. “Our goal is to provide leading products and services that help credit unions grow their auto lending portfolios, and through our new relationship with First Associates we’re able to deliver a cost effective, comprehensive solution that will meet the servicing needs of our credit unions.” 

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About First Associates Loan Servicing

First Associates is one of the nation’s premier consumer loan/lease servicing firms comprised of a team of professionals with world class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets, unsecured loan and lease portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

About CU Direct Corporation

Established in 1994, CU Direct Corporation has helped the credit union industry fund over $120 billion 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.