UW Credit Union in Madison, Wis., has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform–in more ways than one. Instead, a third party issues the loan, with the help of an intermediary. There are no incentives or pressure to sell. When we first started with CUDL, our dealer relationships were nonexistent.”, Through the CUDL platform today, UW Credit Union does seven-minute loan decisions and same-day funding. Indirect Lending Underwriter at UW Credit Union ... UW Credit Union. “When we started, we wanted to make it easier for our members to finance their vehicles with us. We have been able to integrate everything seamlessly.”, “As we became more serious in 2017, we hired dealer relationship managers,” Long says. Indirect Lending and Member Convenience. By offering an electronic point-of-sale system in the dealership, the credit union was ready to … ... Third quarter 2019 data shows that indirect loans still dominate the credit union industry’s auto portfolio, though momentum appears to have stalled in recent quarters. By taking advantage of the information and resources available on the website we hope to make your auto buying experience easier and more satisfying, as well, For more information about CUDL, contact us at CU Direct offers a partnership that goes well beyond what is available in the loan origination system marketplace today. With credit union lending partners in Missouri, Illinois … National and State. Credit Union Lending Systems (CULS) has been the premier indirect lending solution for the St. Louis, Missouri, and surrounding area credit unions for almost 2 decades now. “We liked AutoSMART because it linked our members with dealers’ inventory online,” he explains. By coming to the CUDL AutoSMART website, you have taken the first step in helping yourself to find a better deal on your next vehicle purchase. The leading provider of indirect lending and point-of-sale services for the credit union industry and creator of the Credit Union Direct Lending (CUDL) program. University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. UW began using Credit Union Direct Lending in 2007. As a credit union-owned service organization, we develop custom applications, training and marketing programs to help participating credit unions serve their members’ auto buying needs. In the decade-plus since, indirect lending also has evolved into a key member acquisition strategy, as well as a member convenience strategy, Long says. “What started out as a desire to show inventory online has grown into a great relationship with CU Direct,” Long says. Not surprisingly, UW Credit Union was a 2018 CU Direct Best Practices winner. For your convenience, below y… BILL MEYER is public relations and content manager for CU Direct. We understand the most important element is that you own and control 100% of your Indirect Lending Program.Leaders Edge can guide your credit union in the development of rate structures and threshold levels based on our many years of experience in the industry. Long says one of the clinching factors in the decision to go with CUDL was the AutoSMART auto-shopping feature. UW Credit Union in Madison, Wis., has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform–in more ways than one. University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct�s CUDL Platform � in more ways than one. Loading ... Duffy Questions Cordray on Indirect Auto Lending Practices - Duration: 11:13. Apply for a loan from UW Credit Union: credit cards, auto loans, home equity loans, home equity line of credit, reserve line of credit, or personal loans. James Nastars, senior vice president, lending at $ 1 billion University Federal Credit Union in Austin, Texas, said that the credit union ended its indirect lending program in January 2000. Indirect Lending You can apply for an IBEW & United Workers FCU loan at select dealerships since we’ve teamed up with Credit Union Direct Lending (CUDL). For our industry, sometimes the lawsuits that impact banks can have an impact on credit unions later. The other big change was seen in loan dollars. Boosting Direct & Indirect Lending Through Online Engagement - … Back in 2007, the CU recognized the majority of vehicles were being financed at the dealership, Long says, “and we wanted to be there.” Looking back at 11 years on the CUDL platform, Long says so many of UW Credit Union’s original goals have been met—or exceeded. Calculators. We are extremely proud of the strong dealer relationships we have formed. We work tirelessly to protect your best interests in Washington and all 50 states. Credit Union Lending Systems (CULS) has been the premier indirect lending solution for the St. Louis, Missouri, and surrounding area credit unions for almost 2 decades now. This is a work-from-home position. But as we realized dealers were trying to finance nonmembers, we expanded and we exceeded our goals each year,” he says. Indirect Lending Start the Journey Indirect lending Tap into the nation’s largest credit union auto lending network Drive more indirect loans your way with CUDL CUDL is the fully-customizable auto lending solution proven to streamline and enhance indirect origination. In the decade-plus since, indirect lending also has evolved into a key member acquisition strategy, as well as a member convenience strategy, Long says. 2 overall in Wisconsin. 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