CU Direct's Board Welcomes New Director

Jim Lafoon, Security Service Federal Credit Union
CUSO’s Board of Directors Appoints Security Service’s Laffoon.


Ontario, CA | February 12, 2014

CU Direct, (www.cudirect.com), leading provider of lending solutions to the credit union industry, today announced the appointment of a new director to its board of directors.

Jim Laffoon, president of San Antonio, Texas-based Security Service Federal Credit Union ($7.7 billion in assets and over 900,000 members) has been appointed by CU Direct’s board of directors as a director. Laffoon has close to 30 years’ experience in the credit union industry. He has been with Security Service FCU for 25 years where he served as the credit union’s corporate planner and strategist while holding various positions, including Chief Information Officer and Chief Operating Officer. He was appointed president of Security Service FCU in December of 2012. Prior to Security Service, Laffoon worked for Arthur Andersen & Co.

“I’m honored to be serving on CU Direct’s board of directors,” said Laffoon. “I believe it is important for the credit union industry to own and control its point-of-sale lending channels and CU Direct makes that possible. I look forward to working with the board and management of CU Direct to continue to develop best-in-class lending products and services."

“Jim brings tremendous value to the board having lead one of the most successful auto lending programs in the country at Security Service, and I am looking forward to working with him,” said Tony Boutelle, president & CEO of CU Direct.

CU Direct’s board has also announced that Keith Sultemeier, president & CEO of Kinecta Federal Credit Union, who has served as an Associate Director since September of 2013, has been appointed as a director on the board.

Also serving on CU Direct’s Board of Directors are: chairman, John Lund, CEO of America First Credit Union; vice chairman, Jeff March, CEO, Citadel Federal Credit Union; secretary and treasurer, Nader Moghaddam, president & CEO, Financial Partners Credit Union; Diana Dykstra, president and CEO, California Credit Union League; Sterling Nielsen, president and CEO, Mountain America Credit Union; Donna Bland, president and CEO, Golden 1 Credit Union; Chuck Purvis, president and CEO of Coastal Federal Credit Union; and Joe Brancucci, president and CEO of GTE Financial, ex-officio member of the board.

CU Direct has facilitated $138 billion in credit union auto loans since 1994, offering innovative products, building networks, and providing thought leadership to the industry. The company has introduced new efficiencies to the loan origination process, created better auto shopping experiences for credit union members, and helped credit unions better manage lending risk.

The company provides a wide range of lending solutions and services to more than 1,100 credit unions and their 45 million members nationwide. The CUSO’s solutions include CUDL, Lending Insights, Lending 360, OnSpot Financing, Vero, and its suite of auto buying products.

CU Direct credit unions collectively experienced 19.4% auto loan growth in 2013. As a result, CU Direct partner credit unions, as an aggregate, were the sixth largest auto lender in the nation in 2013.

 

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