| CU Direct Connect Experiences Strong Growth in First Quarter 2013 – Centennial, CO., April 16, 2013 - CU Direct Connect (CUDC) announces that they experienced strong auto loan growth in the first quarter of 2013 and that they are proud to welcome a new credit union member to their credit union service organization. READ MORE |
| CU Direct Connect Welcomes New Owners – Centennial, CO., January 9th, 2013 - CU Direct Connect, LLC (CUDC) announces that they are proud to welcome two new owners in their credit union service organization. Community Choice Credit Union and West Denver Community Credit Union have both recently purchased units in CUILA, LLC (dba CU Direct Connect) to become its newest owners. READ MORE |
| CU Direct Connect is Named a Preferred Lender by AutoNation – Centennial, CO., November 1st, 2012 - CU Direct Connect, LLC (CUDC) announces that it has signed an agreement with AutoNation, Inc. that names CU Direct Connect as a Preferred Lender for all AutoNation dealerships in Colorado. The agreement is effective as of November 1st, 2012. READ MORE |
| Strong Results and Additional Owners for CU Direct Connect in 2012 – October 9th, 2012 - CU Direct Connect (CUDC) announces that they are experiencing strong auto loan growth in 2012 and that they are proud to welcome two additional owners added to their credit union service organization. READ MORE |
| Strong Market Share Growth for CU Direct Connect in 2011 – February 1st, 2012 - CU Direct Connect (CUDC) experienced a strong increase in loan volume and market share in 2011, especially during the second half of the year. After facing a tougher lending environment along with the rest of the industry in 2009 and 2010, CUDC began to see payoffs from their significant investments in new tools and technologies during that period, as well as dramatic changes in the indirect lending program to better navigate the new landscape that they are operating within. READ MORE |
| CU Direct Connect Hires Blair Korschun as CEO – December 20th, 2011 - CU Direct Connect (CUDC) today announced that their Board of Directors has hired Blair Korschun as the new President and CEO. “We are confident that Blair’s extensive experience, skill set, analytical mind and people skills will ensure success in continuing CUDC’s tradition of servicing our participating credit unions in a beneficial and cooperative manner,” states David E. Maus, CEO of Public Service Credit Union and Chairman of the CUDC Board of Managers. READ MORE |
| UniWyo Federal Credit Union, Harrison District #2 Federal Credit Union Choose CU Direct Connect for Indirect Lending Partner- June 22, 2009- CU Direct Connect’s network of credit unions grew on June 15th. UniWyo Federal Credit Union and Harrison District #2 Federal Credit Union joined the CUSO’s indirect lending program. Their participation will help the credit unions capture their members’ auto loans at the point of purchase and will expand on CU Direct Connect’s service offerings in to Colorado and Wyoming. READ MORE |
| CU Direct Connect Pays Dividends to Help Provide Relief for its Credit Unions - March 25, 2009-CU Direct Connect paid its owner credit unions dividends this March, a strategic step to help its credit unions recover from some of the economic pressure the credit union market faces. In addition, the CUSO indefinitely lowered its loan origination fee to all its participating credit unions. This benefits each of the 50 participating credit unions. READ MORE |
| CU Direct Connect Has Record-Breaking Month - September 23, 2008- CU Direct Connect recorded its highest indirect lending volume month in August 2008. The participating credit unions funded over $126 million in indirect vehicle loans in Colorado. This was the highest volume month since the CUSO was established in 2003. It was also the highest volume month since the program’s inception in 1993, before it became a CUSO. The milestone was reached amid nationwide reports of a slow auto market. READ MORE |
| Credit Unions Obtain High Volume of Indirect Auto Loans Despite Market Woes - April 11, 2008- The news is full of negative reports about the auto market, with declining sales nationally and lenders exiting the market. However not all of the news is doom and gloom. Credit unions in Colorado have been realizing great success with auto loans despite the challenging economy. The first quarter of 2008 was the highest indirect loan volume quarter for the credit unions on CU Direct Connect’s indirect lending program since 2004. READ MORE |
| Credit Unions Automate 75% of Indirect Lending Approvals with CU Direct Connect - February 4, 2008- Balancing indirect auto loan portfolios can be a challenge. Credit unions have struggled with maximizing yield in different FICO score ranges and ensuring consistency in underwriting. This can be difficult when credit unions are faced with cumbersome manual processes, inefficient technology and high turnover. CU Direct Connect has made advances in indirect lending technologies that help their credit unions operate more efficiently and achieve their desired portfolio blend. READ MORE |
| New Technology Allows Credit Unions to Analyze Performance of Indirect Loans - December 15, 2006 - CU Direct Connect has created a new software tool, the Loan Loss Collector, to collect and analyze credit unions' indirect loan data. Credit unions can easily and securely enter their loan loss/charge-off data for indirect loans. The data can then be exported into a report that displays the overall loss ratio of indirect loans as well as loss ratios by FICO score tier, specific dealerships and date ranges. READ MORE |
| CU Direct Connect's 3rd Annual Golf Tournament Raises Over $14,000 for Charity - September 11, 2006 - CU Direct Connect's 3rd Annual Charity Golf Tournament, hosted on August 21st, was a tremendous success for the two featured charities - the Credit Union Foundation of Colorado and Wyoming and the Lupus Foundation of Colorado. Due to the generous support of the credit unions and vendor partners, over $14,000 was raised. READ MORE |
| Outbound Call Center Helps Strengthen Relationships with Indirect Members - March 1, 2006 - To help credit unions build awareness and loyalty among indirect members, CU Direct Connect has rolled out an outbound call center - the Member Connection Service. On behalf of the credit union, CU Direct Connect calls indirect members within five days of funding the loan, whe their auto loan is top-of-mind. READ MORE |
| CU Direct Connect Selects CULA as Indirect Leasing Partner - December 16, 2005 - CU Direct Connect recently selected Credit Union Leasing of America (CULA) as its indirect leasing provider. The Colorado exclusive partnership will benefit credit unions, dealers and members with a safe, competitive and comprehensive leasing product. READ MORE |
| CU Direct Connect Certifies Staff with AFIP Credentials - November 22, 2005 - CU Direct Connect has always viewed its dealers as its true partner. Now that partnership has reached a new level with the recent Association of Finance and Insurance Professionals (AFIP) certification of CU Direct Connect's dealer relations staff. READ MORE |
| CU Direct Connect Raises $19,500 for Charity - September 1, 2005 - CU Direct Connect's 2nd Annual Charity Golf Tournament raised over $13,500 for the Colorado Credit Union League Foundation and $6,000 for First Tee of Colorado. The event attracted 130 golfers representing credit unions from across the state and CU Direct Connect's vendor partners. READ MORE |
| CU Direct Connect Protects Credit Unions When Dealers Sign Up New Members - June 1, 2005 - CU Direct Connect has announced the release of CU Sign Up, a web-based online credit union membership tool that enables dealers to enroll members at the point of sale. This stand alone tool provides protection to the credit union by ensuring current credit union members stay with their own credit union, validating eligibility to join a credit union, and performing fraud and OFAC checks at the time of enrollment. READ MORE |
| CU Direct Connect Now Offers Indirect Lending Products and Services Nationwide - May 1, 2005 - CU Direct Connect announced today the launch of several new products and services designed to meet a CUSO or credit union's indirect lending needs. These new products will be attractive to credit unions and CUSOs of any size because they can be customized to meet specific market needs and are adaptable to any core lending system. READ MORE |
| Enhanced Online Auto-Buying Website for Credit Union Members - January 31, 2005 - CU Direct Connect has formed a new alliance with the Denver Newspaper Agency and Cars.com to provide credit union members with an improved online vehicle information tool. This website, the Auto Resource Center, gives credit union members all the information they need to make an informed decision for their next vehicle purchase. READ MORE |
| Golf Tournament Raises over $10,000 - August 30, 2004 - CU Direct Connect raised $10,250 during a charity golf tournament benefiting the Colorado Credit Union League Foundation and First Tee of Denver. The Colorado Credit Union League Foundation's mission is to educate credit union personnel, volunteers and members about credit union-related issues and operations and to increase awareness, promotion and development of credit unions and their communities. READ MORE |
| Dave Maus Elected Chairman of the Board of Managers for CU Direct Connect - March 31, 2004 - CU Direct Connect announced that Dave Maus was elected the new Chairman of the Board of Managers for CU Direct Connect. "I am honored to have been elected to serve a leadership role in such a dynamic, progressive organization," said Maus. READ MORE |
| Colorado Indirect Lending Program Reaches One Billion Dollars in Indirect Loan Volume - November 7, 2003 - For the first time in its history, CU Direct Connect's indirect loan volume reached a record high of one billion dollars in a single calendar year. "Only a program that endorses the credit unions' cooperative effort and minimizes competition among the credit unions could reach this level of success," said Steve Anderson, President/CEO. READ MORE |
| Colorado Credit Unions Purchase Indirect Lending Program - May 7, 2003 - As of May 1, 2003, CU Direct Connect is wholly owned by its participating credit unions. "The indirect lending volume has become a substantial portion of everyone's overall volume. We felt owning and operating the program was the best strategic move," said Chuck Mabry, CEO of Norlarco Credit Union. READ MORE |
