ONTARIO, Calif. (1/19/16)--CU Direct, a provider of lending, automotive and strategic solutions to credit unions, will distribute a 3% cash dividend to its 108 credit union shareholders.
This is the 11th consecutive year that the company has paid a cash dividend to shareholders.
In 2015, CU Direct automobile loan volume generated $26 billion of new loans for credit unions, adding more than 600,000 new members to the credit union movement, and setting new company records.
The company helped partner credit unions increase loan growth by 13% in 2015. As a result CU Direct credit unions collectively were the third-largest auto lender in the nation for the second year in a row.
Credit unions on the company’s CUDL lending platform delivered growth rates double that of the auto lending market in 2015, demonstrating that credit unions can compete with banks and win in the auto lending marketplace.
“We are pleased to provide our shareholders with a strong return on investment for the 11th year in a row,” said Tony Boutelle, CU Direct president/CEO. “Our goal is to deliver innovative lending solutions that help credit unions improve efficiencies and make more loans.”