700 Credit LLC, an auto industry company involved in providing credit reports, compliance solutions and soft-pull products and services, has integrated its credit and compliance platform with CU Direct's new CUDL
Credit unions funded 1.8 million loans through CU Direct's Lending 360 and CUDL
lending platform, generating a record $39 billion in credit union auto loans in 2017, up from $32 billion in 2016.
CU Direct credit unions, through the CUDL
network, generated USD26 billion in new auto loans.
Henry Wirz, president/CEO of SAFE CU, grew the credit union from $142 million to $2.1 billion and has served on boards of several industry organizations, including CO-OP, CUDL
and the CCUL/NCUL task force.
Participating credit unions funded more than one million auto loans through CU Direct's CUDL
platform last year, which generated $22 billion in auto loan balances, according to the Ontario, Calif.-based CUSO.
As a result, the company has been able to deliver its CUDL
AutoSMART mobile app to credit unions to help members with their car shopping and buying experiences.
CU Direct credit unions processed 723,000 loans through the company's CUDL
lending platform, generating $16.3 billion in credit union auto loans in 2013, the CUSO said.
Credit unions have funded 545,000 loans through CU Direct's CUDL
System thus far in 2013, totaling $12.2 billion in vehicle financing, the CUSO said.
Across the CUDL
credit union auto lending platform, boomers comprise 36% of all loan applications and nearly 43% of new car applications, Child said.
reviewed the 2011 auto loan applications processed via its CUDL
lending platform to identify credit unions that had higher than average look-to-book and approve-to-book rates.
As credit unions continued to gain momentum in the auto lending marketplace last year, CUDL
said the industry experienced 27% loan growth through November 2012.
teamed up with Remarketing by GE and Manheim, an Atlanta-based provider of vehicle remarketing services, to outline performance checkpoints used by remarketers.