CU Direct to Showcase Growing Suite of Dealer Solutions at the 2014 National Automobile Dealers Association Convention and Exposition
Ontario, CA | January 14, 2014
CU Direct (www.cudirect.com), administrators of CUDL, the nation’s largest auto lending network for credit unions, is participating at the National Automobile Dealers Association (NADA) Convention (www.nada.org) for the eleventh consecutive year.
During the convention, taking place January 25-27 in New Orleans, CU Direct will be showcasing its advanced CUDL credit union lending network, offering two-way Dealer Management System (DMS) integration capabilities, along with its expanding suite of dealer solutions.
CU Direct will also highlight the latest generation of its CUDL AutoSMART program and vehicle shopping website, as well as its new Auto PREMIER concierge program, which is scheduled for national roll-out in early 2014.
CUDL AutoSMART connects 9,500 participating dealers to more than 1,000 credit unions and their 38 million credit union members nationwide, providing a valuable resource for dealers to promote their stores and vehicle inventory. Currently, the AutoSMART site has more than 1.45 million vehicles posted in dealer inventory.
The company’s 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, increasing dealership opportunities through the CUDL credit union lending platform.
In 2013, the company expanded operations into Canada, DBA CUDL Canada Services, leveraging its industry leading products and technology to provide best in class automotive web strategies and solutions to the Canadian credit union and dealer marketplace.
CU Direct grew its national CUDL auto lending network in 2013 to include more than 10,500 dealerships and 1,100 credit unions, serving 45 million members, nationwide, reinforcing the important role credit union and dealer relationships are playing within today’s industry.
Credit unions continued to gain momentum in the auto lending marketplace in 2013, growing monthly market share from 16.3% in March to 19% in October, with year-end credit union market share standing at 17.5%. CU Direct credit unions collectively experienced 19.4% auto loan growth in 2013, and as an aggregate, were the fifth largest auto lender in the nation. Credit unions funded 723,000 loans through the CUDL System in 2013, totaling more than $16.3 billion in vehicle financing.
“Our focus is on providing dealers with unique products and services that help them grow their bottom lines and extend the credit union-dealer relationship,” states Jerry Neemann, CU Direct’s executive vice president, Automotive/Strategic Alliances. “With the introduction of our Auto PREMIER concierge service, along with our CUDL Lending Platform and AutoSMART program, we continue to expand and enhance our product offerings to dealerships, enabling them to better connect with credit unions and their members to grow sales opportunities and generate more revenue.”
For more information about CU Direct’s full line-up of available products and services, attendees can visit CU Direct’s CUDL booth, #1919, at the convention.