The 1,100 CUDL credit unions representing 64 million members funded $46.7 billion in vehicle loans in 2023.  -  IMAGE: Pexels/Sora Shimazaki

The 1,100 CUDL credit unions representing 64 million members funded $46.7 billion in vehicle loans in 2023.

IMAGE: Pexels/Sora Shimazaki

CUDL, a credit union vehicle financing platform, commemorates its 30th anniversary this year by celebrating a landmark achievement of funding $458 billion in vehicle loans over its three-decade journey. The company also announced its network expansion to include 20,000 dealerships across the U.S.

Credit unions on the CUDL platform remain the top auto lender by aggregate volume for nearly three years, furthering the company’s commitment to connecting auto dealers with a network of credit unions. The 1,100 CUDL credit unions representing 64 million members funded $46.7 billion in vehicle loans in 2023.

Dealers benefit from one platform with easy access to multiple credit union lenders that can provide affordable financing options. Through CUDL’s network of credit unions, auto dealers are able to offer buyers competitive rates and flexible terms. The partnership contributes to the overall growth of credit unions and dealerships while providing a positive car-buying experience.

“We’re proud of the work we’ve done over the past three decades to serve the dealership community,” said Tony Boutelle, the president and CEO of Origence, CUDL’s parent company. “As we look at the next 30 years, we’ll continue to focus on providing innovative solutions to connect dealerships, credit unions, and car buyers with the best financing options in the marketplace.”

Originally posted on Auto Dealer Today

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