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CUDL Expands Operations Into Illinois

RANCHO CUCAMONGA, Calif. - Credit Union Direct Lending has begun operations in Illinois, bringing the number of states the CUDL program is fully operational to 13, serving more than 280 credit unions and counting 2,800 dealerships in its network. In addition to Illinois, the other 12 states are California, Nevada,...

By Staff Writer | Updated on June 22, 2004

RANCHO CUCAMONGA, Calif. – Credit Union Direct Lending has begun operations in Illinois, bringing the number of states the CUDL program is fully operational to 13, serving more than 280 credit unions and counting 2,800 dealerships in its network. In addition to Illinois, the other 12 states are California, Nevada, Washington, Oregon, Texas, Massachusetts, New Hampshire, Rhode Island, Florida, Minnesota, Virginia, and North Carolina. Among the first CUs in Illinois to use the CUDL program are Alliance CU and Baxter CU. The initial dealerships on the CUDL network in Illinois include Anthony Pontiac, Grant Dean Buick, Sessler Ford, Arlington Acura, Ray Chevrolet, and Schaumburg Honda. CUDL has hired Lance Marcinek as the new Regional Director for the Midwest Business unit and will open a regional office in the Chicago area. In 2003, CUDL participating CUs funded 245,175 auto-financing contracts through the CUDL system, which generated more than $4.8 billion in credit union auto financing, up 48% over yearend 2002′s more than $3.3 billion.

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