Search
 

CUDL Reduces CUs' Transaction Fees for Fifth Consecutive Year

RANCHO CUCAMONGA, Calif. - Credit unions participating in the Credit Union Direct Lending program will see a reduction in transaction fees starting July 1, 2004. CUDL President/CEO Tony Boutelle said the expansion of the CUDL program into additional markets, the growing number of CUs aggregating on the auto lending platform,...

By Staff Writer | Updated on June 29, 2004

RANCHO CUCAMONGA, Calif. – Credit unions participating in the Credit Union Direct Lending program will see a reduction in transaction fees starting July 1, 2004. CUDL President/CEO Tony Boutelle said the expansion of the CUDL program into additional markets, the growing number of CUs aggregating on the auto lending platform, and new product channels contributed to higher than expected earnings and led the CUDL Board to approve the transaction fee decrease. In 2003, CUs funded more than 245,000 loans through the CUDL system, contributing to $4.8 billion in CU auto financing. Since May 2004, CUs have funded more than 130,000 loans totaling $2.7 billion in auto financing. That represents a 54% increase over the same period in 2003. For the past five years, CUDL has consistently reduced transaction fees for participating CUs. The CUDL program currently includes 2,800 dealerships and 283 participating credit unions in 13 states including: California, Nevada, Texas, Oregon, Washington, Massachusetts, New Hampshire, Rhode Island, Florida, Minnesota, Virginia, North Carolina, and Illinois.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.