Subprime Lender Partners With CU Direct
ONTARIO, Calif. (11/27/13)--New Start Financial (NSF) has partnered with CU Direct to become the only subprime lender on the CU Direct lending network that specializes in subprime lending in Utah.
NSF in July launched a subprime auto financing program for all independent and franchised dealers throughout Utah (Auto Finance News Nov. 25).
Previously NSF was available only at two select independent dealerships. Through a merger with, Sam Russell, owner and operator of the Automatic Car Credit dealerships, and Vance Harrison of Harrison Imports, NSF received with capital to offer financing statewide.
NSF will focus on building long-term relationships with its dealer partners while providing them with an aggressive finance solution for customers with poor credit or who don't conform to traditional credit union or bank guidelines.
CU Direct Corp. also finalized new partnership agreements with nine credit unions, including:
- choolsFirst FCU, Santa Ana, Calif.;
- ENT FCU, Colorado Springs, Colo.;
- NASA FCU, Upper Marlboro, Md.;
- t. Mary's Bank CU; Manchester, N.H.;
- Merrimack Valley FCU, Lawrence, Mass.;
- 121 Financial CU, Jacksonville, Fla.;
- Resource One FCU, Dallas;
- Linn Area CU, Cedar Rapids, Iowa; and
- Rhode Island CU, Providence, R.I.
CU Direct has signed new partnership agreements with 80 credit unions this year.