CU Direct Offers Tips for Origination Growth Despite Looming Economic Downturn

Though credit unions have thrived in the current auto finance market, CU Direct is warning the 1,100 lenders on its platform to remain cautious as near-term macroeconomic factors — like rising interest rates and a potential downturn — are likely to spark additional risk factors. “[Lenders] need to increase their rates along with the [Federal […]
  • Nicole Casperson
  • December 3, 2018
  • 0

Keys to Strengthening Credit Union-Dealership Relationships

A deeper focus on consistent service, rather than profit, has made credit unions stand out as premier lenders that dealerships can count on, John Carrington, senior vice president of sales for CU Direct, told the Center for Auto Finance Excellence. Smaller in size, member-based, and under less regulatory scrutiny compared with “big banks,” credit unions are […]
  • Nicole Casperson
  • July 18, 2018
  • 0

Credit Unions Look to Improve, Post 2016 Origination Growth

Credit unions, as a collective group, grew auto loan origination volume by about 7% in 2016, while all other loan providers — captives, banks, finance companies, and buy here pay here locations — saw volumes decline year over year, according to Michael Cochrum, vice president of analytics and advisory services at CU Direct. Those increased […]
  • William Hoffman
  • March 14, 2017
  • 0

Less Paperwork Boosts Efficiency & Strengthens Dealer Relations

Save a tree — use less paper. Cutting down on paperwork can also save a headache, and grow your business. Ent Federal Credit Union, a small community credit union serving Southern Colorado, had a banner year last year, according to William Vogeney, executive vice president and chief lending officer, who estimates that within its auto finance […]
  • Larissa Padden
  • March 9, 2015
  • 0