CU Direct Connect is a CUSO (credit union service organization) focused on providing lending-related services to credit unions throughout the country. CU Direct Connect operates under the guidance of our credit union owners/partners. The flagship service is auto loans; our service allows credit union members to close their credit union loan at the dealership - otherwise known as indirect lending. Our focus is to provide the services, consulting, and software needed to allow a credit union or CUSO to be competitive in the marketplace while meeting their member's needs.
CU Direct Connect began as a piece of a larger credit union indirect lending program called CU Member Lending. The idea of a company that focused on indirect lending for credit unions began in 1993 with six credit unions in Colorado that wanted another business entity to manage their auto loans with the dealerships. Soon this concept grew into a company and CU Member Lending was formed a year later in 1994. Nine years later, with offices in Colorado, Missouri, Florida, and South Carolina, CU Member Lending helped over 80 Credit Unions and their members through the indirect lending process.
Leveraging the 10 years of lending experience from CU Member Lending, CU Direct Connect was formed as a separate indirect lending program specifically for Colorado and Wyoming credit unions and dealerships. When CU Direct Connect was first formed, it remained under the management of CU Member Lending, gaining from their years of credit union and indirect lending experience. With CU Member Lending's assistance, CU Direct Connect matured into a strong and effective program, officially gaining their operating contract in May of 2003.
Credit unions in the Colorado CU Direct Connect indirect lending program made history in October 2003, generating $1.2 billion dollars of indirect lending loan volume in one calendar year. With 35+ Colorado credit unions representing over 750 thousand members, and more than 450 Colorado dealerships participating in the Colorado program, CU Direct Connect has the experience and knowledge to help credit unions across the country.
CU Direct Connect now offers their expertise in indirect lending to CUSOs and credit unions outside of Colorado who want to own and manage their own program. CU Direct Connect can provide our Business Model, Indirect Lending Loan Processing Services, Auxiliary Indirect Lending Software and/or consulting.