As indirect lending continued to add volume to credit union auto loan portfolios in 2017, those affected included the 1,117 credit unions affiliated with CU Direct, an auto lending CUSO based near Los Angeles.
The CUSO, which has grown from nine shareholders in 1998 to more than 100 last year, announced it has approved a 3% cash shareholder dividend, its 13th consecutive dividend.
"We are pleased to once again provide a strong return on investment to our shareholders," President/CEO Tony Boutelle said. "Credit unions continue to demonstrate their ability to compete with banks and win in the auto lending marketplace; we remain focused on delivering innovative lending technology that helps our credit union partners make more loans and create a better member experience."
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