Auto Lending Articles

‘CUDL Way of Life’ Results in More Booking, Better Dealer Relations, and Expanded Market Presence for Amplify Credit Union

‘CUDL Way of Life’ Results in More Booking, Better Dealer Relations, and Expanded Market Presence for Amplify Credit Union

When $930 million Amplify Credit Union, based in Austin, Texas, switched to the CUDL platform it was more than just a change of indirect auto lending portals, it represented a move up to the “CUDL way of life,” according to Tony Kountoupis. Kountoupis, the credit union’s VP of consumer lending, said Amplify had been using…

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

Consumers Credit Union wanted more – much more – out of its indirect auto lending program. The credit union was frustrated with the inefficient way dealer partners sent the credit union applications through many costly systems, which ended up in their separate loan origination system. This, combined with a desire to work with a credit…

Credit Union Auto Lending Cruising in 2018

Credit Union Auto Lending Cruising in 2018

Remember late last year, when auto loans were predicted to drive 2018 total credit union loan growth at a rate of 9.5 percent? Some doubted credit unions would achieve that growth rate, especially after a number of industry experts forecasted a 2.3 percent reduction in 2018 new car sales. The post-recession boost in new car…

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. Mike Long, Executive Vice President and Chief Credit Officer for the $2.7 billion UW Credit Union, based in Madison, Wis., recalls rudimentary technology and…

LOS Automation Allows Kings Federal Credit Union to Lend Large

LOS Automation Allows Kings Federal Credit Union to Lend Large

When credit union executives think of liquidity management tools, loan origination software isn’t typically the first thing that comes to mind. But that’s exactly how Kings Federal, a SEG-based credit union in Hanford, Calif., is using CU Direct’s Lending 360 loan origination system (LOS). Kings Federal is a robust auto lender, with auto loans representing…

How Excellence in Dealer Engagement Led BECU To a Record-Breaking Year

How Excellence in Dealer Engagement Led BECU To a Record-Breaking Year

As credit unions continue to increase their presence in the auto lending marketplace, dealer engagement only becomes more essential. A good working relationship with dealers, coupled with lending technology can increase opportunity for funding auto loans, which improves the credit union’s market presence and deepens their loan portfolio. CU Direct spoke to Boeing Employees Credit…

One Credit Union’s Approach to Excellence in Auto Lending

One Credit Union’s Approach to Excellence in Auto Lending

Auto lending is the backbone of credit unions’ loan portfolios. Credit unions continue to not only compete in the auto lending arena, but to outperform much of the marketplace, improving their market presence, and capturing more loans. With a strong, and growing position in the marketplace, credit unions need to lead with service as a…

For UMe Federal Credit Union, Incorporating an LOS Digital Strategy Delivered Double-Digit Loan Growth

For UMe Federal Credit Union, Incorporating an LOS Digital Strategy Delivered Double-Digit Loan Growth

When CEO Robert Einstein decided to implement a new loan origination system at UMe Federal Credit Union, all he was looking for was an LOS that would upgrade his online loan application process to include instant decisioning. He got it. But he also received so much more. The $215 million Burbank, California-based credit union now…

Credit Union Auto Lending Revs-Up

Credit Union Auto Lending Revs-Up

Credit unions have been gaining auto lending market share for a few years, and 2017 not only continued this trend but proved to be an especially good year. Credit unions market strength is reinforced by the 11.3% year-over-year auto loan growth they experienced in 2017, expanding their market share in both new and used car…

6 Questions Every Credit Union Must Ask When Assessing Asset Recovery & Disposition

6 Questions Every Credit Union Must Ask When Assessing Asset Recovery & Disposition

Asset recovery and disposition is something few credit union executives enjoy talking about. Still, compliant recovery and disposition processes that perform well against industry benchmarks are a key component of solid auto loan portfolio performance. To assess how well your recovery and disposition processes are performing, there are six key questions every credit union executive…