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CU Direct Regional Vice President Bob Nealon announced that the multi-owned CUSO's Credit Union partners in New England recently surpassed $1 Billion in year-to-date 2015 auto loans processed through the CUDL automotive lending system. "Hitting the $1 Billion milestone is a testament to the tremendous skills of our Credit Union lending partners throughout New England as well as the power of the collaborative Credit Union-Owned Delivery Channel," Nealon told your League. In Maine, Consolidated Solutions, a CU Direct stockholder, and its participating credit unions contributed over 4,000 auto loans totaling over $64 million to the $1 billion milestone.
CU Direct, which has stock holder and partner Credit Unions throughout New England, has enjoyed steady growth over the last 15 years here. With nearly 1,000 subscribed automotive dealerships in the six states, the "Credit Union-Owned Delivery Channel" is widely accepted and provides innovative technology solutions which help Credit Unions capture existing and new member auto loans at the point-of-sale.
Dan Daggett, Consolidated Solutions President, stated, "The partnership we have had with CU Direct has proven to be exceptional, and the CUDL delivery channel is now part of the culture in our dealership network. With this partnership Consolidated's 14 CUs were collectively represented as one of 3 New England states to be the Number 1 Auto Lender in Maine for 2014 and we are holding our own again in 2015."
Nealon added, "These growth results validate that auto dealerships will partner with Credit Unions based on competitive programs and strong relationships (regardless of delivery channel). There are important aspects of the CUSO model which continue to help Credit Unions differentiate themselves in their local marketplaces as well as achieve very significant cost savings and processing efficiencies.
For any Maine CUs that would like to learn more about the the partnership, visit Consolidated Solutions online; or email Dan Daggett.