CUDL in Pact With PAR

Credit Union Direct Lending, an indirect and point-of-purchase auto lending solutions CUSO, has entered into an agreement with PAR North America to help credit unions advance their vehicle recovery efforts and processes. As a result of the agreement, CUDL will be able to offer PAR’s automotive asset recovery solutions-including repossession, skip trace and title services-to its credit union partners. These services will complement the asset disposition solutions CUDL already offers through similar alliances with GE Capital and Manheim.

“We did a strategic alignment agreement,” said Jerry Neemann, executive vice president and chief sales officer of CUDL. “Basically, about six to eight years ago, we started working a lot with Manheim, a large auction exchange. We were going through an education process about how auctions can help credit unions. Last year we recognized a lot of car sales, and a lot of good things happening. We wanted to help the credit unions by offering a marketing solution. We went out there and signed with GE; they do a lot of business at the auction. We’ve been taking the same approach with credit unions-helping them when they have a repossession though auction to get more money.”