CU Direct Pays 11th Consecutive Cash Dividend to Shareholders
Ontario, CA | January 14, 2016
CU Direct (www.cudirect.com) the nation’s leading provider of lending, automotive and strategic solutions to the credit union industry, has announced that the company’s Board of Directors has approved a three percent cash dividend to its 108 credit union shareholders. This is the eleventh consecutive year that the company has paid a cash dividend to shareholders.
In 2015 CU Direct automobile loan volume generated $26 Billion of new loans for credit unions adding more than 600,000 new members to the credit union movement and setting new company records.
The company helped partner credit unions increase loan growth by thirteen percent in 2015, and as a result CU Direct credit unions, as an aggregate, were the third largest auto lender in the nation for the second year in a row. In addition, credit unions on the company’s CUDL lending platform delivered growth rates double the auto lending market in 2015, demonstrating that credit unions can compete with banks and win in the auto lending marketplace.
“We are pleased to provide our shareholders with a strong return on investment for the eleventh year in a row,” said Tony Boutelle, president and CEO of CU Direct. “Our goal is to deliver innovative lending solutions that help credit unions improve efficiencies and make more loans.”