Owners of Credit Union Industry’s Largest Auto Lending Network and Leading Aftermarket Solutions to Promote Expanding Line-up of Products and Services to Help Dealers Retain Customers and Increase Profits
Ontario, CA — CUDL , administrators of the nation’s largest auto lending network for credit unions, along with its subsidiary Vero, providers of best in class identity recovery, and vehicle aftermarket products and services for the automotive marketplace, have announced their participation at the National Automobile Dealers Association (NADA) Convention (www.nada.org) for the tenth consecutive year.
During the convention, CUDL will be showcasing its growing credit union lending network and suite of dealer solutions, including its dynamic Dealer Portal site and AutoSMART program, as well as promoting the benefits of a strong credit union and dealer alliance.
The CUDL Dealer Portal offers a state-of-the art site that helps dealers secure credit union financing for their customers and access pre-qualified credit union members that are in the market for an automobile, increasing dealership opportunities through CUDL’s credit union lending platform.
The CUDL AutoSMART program and vehicle shopping website connects 7,000 participating AutoSMART dealers to more than 1,000 credit unions and their 34 million credit union members nationwide, providing a valuable resource for dealers to promote their stores and vehicle inventory. Currently, there are more than 1 million vehicles in dealer inventory posted on the AutoSMART site.
Vero will be highlighting an extensive line-up of industry-leading aftermarket products that help dealers retain customers, improve efficiencies, and increase profits, including its V-Care program, MBOSS anti-theft solution, Titanium Protection Program, and GAP products.
Credit unions have continued to grow auto lending market share in 2012, as their monthly market share has grown from 16.3% in March to 18% in September. Year-to-date, credit union market share stands at 17.6%, after closing 2011 at 16.9%. CUDL credit unions are the eighth largest auto lender in the nation, and have experienced 27.4% growth year-to-date. Through November of this year, CUDL credit unions have funded 600,000 auto loans totaling more than $12 billion.
“Our focus is on providing dealers with unique products and services that help them grow their bottom lines and extend the credit union-dealer relationship,” states Jerry Neemann, CUDL’s executive vice president, CUDL Automotive. “We continue to expand and enhance our product offerings to dealerships, enabling them to better connect with credit unions and their members to grow sales opportunities and generate more revenue for their stores.”
CUDL has grown its national auto lending network in 2012 to include more than 9,000 dealerships and 1,050 credit unions, serving 34 million members, nationwide, reinforcing the important role credit union and dealer relationships are playing within today’s industry.
For more information about CUDL, Vero, and a full line-up of available products and services, attendees can visit the CUDL/Vero booth, #1221, at the convention.
Based in Ontario, California, CUDL® (a CU Direct Corporation flagship brand) is the leader in indirect and point-of-purchase lending services for the credit union industry. As a Credit Union-owned Service Organization, CUDL develops custom applications, training and marketing programs to help credit unions achieve their indirect vehicle lending goals.
More than 1,000 credit unions and 9,000 dealerships nationwide rely on CUDL’s national lending network to better serve members’ vehicle shopping needs and drive member financing at the point-of-purchase. For more information about CUDL visit www.cudl.com and www.cudlautosmart.com.