CU Direct Reaches New Milestone
Credit unions funded a record 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms in the first half of 2016. That amounts to more than $16.1 billion in funded automotive loans.
Credit unions funded a record 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms in the first half of 2016. That amounts to more than $16.1 billion in funded automotive loans.
Outstanding auto loan balances totaled $987 billion in the fourth quarter 2015, up 11.5% from the year-ago period and the highest level since Experian Automotive began publicly tracking the data in 2006.
Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.
Auto Dealer TV's Jennifer Nebrich reports on gains in F&I profits and revenue among the nation's largest dealer groups. Also this week, credit unions are gaining market share while depreciation rates approach pre-recession levels.
Space Coast Credit Union, which serves more than 230,000 members on Florida’s east coast, has adopted RouteOne’s eContracting platform using its new DiscountOne product.
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In