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Origence 2023

Annual Report

Credit union heart. Fintech mind.
Origence 2023

Annual Report

Credit union heart. Fintech mind.
2023 Annual Report

Chairperson and President/CEO's Message

Erin Mendez Chairperson President & CEO, Patelco Credit Union
Tony Boutelle
President & CEO, Origence

A year of transformation and growth

Reflecting on 2023, the world witnessed a remarkable period of technological advancement, particularly in artificial intelligence (AI) and electric vehicles (EVs). As this new era of transformation unfolded, Origence was leveraging these advancements to provide credit unions with tools to enhance operations, open new lending channels, and elevate the member experience.

Credit unions on the CUDL® platform, as an aggregate, remained the #1 automotive lender in the nation. More than 2.1 million loans were funded through our platforms, totaling $59.2 billion.

Controlling your delivery channel

Our Board and management understand the importance of credit unions owning and controlling their delivery channel. It is an assurance that credit unions can maintain control of the member experience, have an agile response to unpredictable market conditions, and can leverage economies of scale. Origence helps to keep credit unions relevant in this ever-evolving financial landscape.

Supporting our dealer partners
We will continue to provide outstanding service to our local and national dealer groups while at the same time exploring new opportunities to ensure we are at every point where the loan application starts and where members are financing their vehicles.

The future of lending

AI’s prominence led us to collaborate with Zest AI to introduce Zest Auto, an AI-automated underwriting model for automotive lenders that allows us to integrate cutting-edge artificial intelligence and machine learning into our lending platforms.

Additionally, we partnered with Informed.IQ to deliver advanced document processing automation for indirect lending, highlighting our commitment to pioneering solutions that set new industry standards.

EVs continued to take their place on the cutting edge of technology—affecting not only what people drive but how they finance their vehicles. Many large retailers and EV manufacturers have moved the point of financing to the beginning of the sales journey. This shift from the dealer showroom to the “top of the sales funnel” had begun to lock credit unions out of valuable lending opportunities.

In response, Origence launched FI Connect to create a finance company that could act on behalf of credit unions at the point of sale. Credit unions partnering with FI Connect can now enjoy the benefits of embedded financing and direct-to-consumer models without the traditional marketing and operational costs.

In May 2023, we announced our partnership with Tesla, the leading EV manufacturer. Since then, we have seamlessly integrated into Tesla’s allocation engine for distributing loan applications to partnered credit unions. By December 2023, 20 credit unions across 8 states partnered with FI Connect, representing $3.36 billion in EV lending capacity. We are excited to have made it possible for credit unions to connect with Tesla, a vital lending channel that credit unions otherwise would not have access to. In 2024, we will negotiate with other retailers to open additional emerging lending channels.

Strategic growth in key areas

Origence experienced growth and captured important market share with solutions such as Origence arc OS, our industry-leading account and origination platform. Similarly, our Origence Lending Services subsidiary continued to grow its client base by offering unique outsourced loan processing solutions.

A focus on client experience

Our commitment to excellence contributed to an increase in our Net Promoter Scores. We achieved 99.9% uptime, introduced a myriad of new features, and implemented robust security measures including multi-factor authentication.

Additionally, we integrated advanced fraud solutions into our platforms, and will continue implementing new ways to safeguard credit unions and their members.

The heart of our success
Our team members make it possible to execute on our vision to create the ultimate origination experience. We strive to cultivate an environment where everyone can be their authentic selves. Our dedication to diversity, equity, and inclusion amplifies this impact and is evident in the engagement of staff in our Employee Resource Groups.

A look back and ahead

These are exciting times for Origence. We enter 2024 by recognizing a historic milestone—our 30th anniversary! We are grateful to our credit union community for their support over these past three decades. Looking back on our journey, our achievements can be distilled into a straightforward philosophy: “We go as credit unions go.”

On behalf of the Board of Directors, executive team, and the entire Origence staff, we want to thank everyone who contributed to our success in 2023. We are excited to continue our work together to bring new ideas, solutions, and opportunities to the credit union industry.

2023

Financials

Financials can be viewed on our financials page.

Year in review

2023 by the numbers

$59.2B

Total loans funded

$50.1B

Indirect loans funded

$9.1B

Direct loans funded

$44.7B

Digital funded loans (SmartFund®)

2,169,473
Loans processed through our
platforms in 2023
8,785,630
Applications processed in 2023
100+

Integration partners

120

Shareholders

615

Employees

30 Years of Success

Serving credit unions, dealers, and members

1,100

Total credit unions

23,186,348

Total loans processed all-time

$551B

Total loans funded

all-time

20,000

Total dealerships

$492B

Indirect loans funded

all-time

88,324,711

Total applications processed

all-time

70M+

Credit union members represented

$59.3B

Direct loans funded

all-time

Diversity, equity, and inclusion

Employee resource groups in action

At Origence, we believe in the spirit of an inclusive workplace. By encouraging an environment where our team can express themselves fully, our company better reflects the diverse communities we serve.

Origence is proud to sponsor Employee Resource Groups (ERGs) that help foster a safe, collaborative work environment.

Black Employees Striving in Tech

Latinx In Financial Technology

Women in Leadership Development

Leadership Empowerment for Asian and Ally Development

Promoting Respect, Inclusion, and Dignity for Everyone

$16M
Raised for Children’s Miracle Network Hospitals since 2006
$700,000
Given to support the credit union movement in 2023
25+
Unique charitable events supported
People Helping People

Commitment to our community

In an industry rooted in the philosophy of people helping people, Origence embraces opportunities to support our credit union community. This commitment to giving back resonates deeply within the heart of our organization and flows through to the communities we serve across the country. We are honored to be involved with organizations focused on strengthening the credit union industry and the communities they serve.
Our Vision

To create the ultimate 
origination experience

Our Mission

Provide integrated origination technology solutions that transform the lending experience to enable credit unions to make more loans and improve their efficiencies

Our brands

Credit union solutions
Credit union solutions
Loan & account origination (arc DX & arc OS)
Indirect lending (CUDL)
Automation & AI
  • Automated loan decisioning (arc OS decision)
  • Document processing automation (powered by Informed IQ)
  • AI-automated underwriting (powered by Zest AI)

Marketing & communications
  • Marketing automation platform (arc MX)
  • Digital communications platform

Vehicle shopping (AutoSMART®)
Credit bureau services
Consulting services
Dealership solutions
Dealership solutions
Financing platform & lender network (CUDL)
Vehicle shopping & financing solution (AutoSMART)
Online advertising (AutoSMART PLUS / 
Spotlight Ads)
Lending operations solutions
Lending operations solutions
Full-service loan processing
Underwriting services
Document services
Call services
Point of sale financing solutions
Point of sale financing solutions

Board members

  • Erin Mendez
    Chairperson
    President & CEO
    Patelco Credit Union
  • Bob McKay
    Vice Chairperson
    President & CEO
    Together Credit Union
  • Todd Marksberry
    Secretary & Treasurer
    President & CEO
    Canvas Credit Union
  • Ron Neumann
    Director
    President & CEO
    Oregon Community Credit Union
  • Sandra Sagehorn-Elliott
    Director
    President & CEO
    Vantage West Credit Union
  • Bill Cheney
    Director
    President & CEO
    SchoolsFirst Federal Credit Union
  • Thayne Shaffer
    Director
    President & CEO
    America First Credit Union
  • Steph Sherrodd
    Director
    President & CEO
    Sandia Laboratory Federal Credit Union
  • Kim Sponem
    Director
    President & CEO
    Summit Credit Union
  • Don Clark
    Associate Director
    President & CEO
    Sound Credit Union
  • Karen Roch
    Associate Director
    President & CEO
    Credit Union West

Executive team

  • Tony Boutelle
    President & CEO
  • Bob Child
    Chief Operating Officer
  • Phil DuPree
    Chief Revenue Officer
  • Neetu Bhagat
    Chief Financial Officer
  • Brian Hendricks
    Chief Product Officer
  • Jeff Shood
    Chief Technology Officer
  • Erin Wilson
    General Counsel
  • Laurel Levine
    Chief People and Engagement Officer
Origence Strategic Council
Affinity Plus FCU
Corey Rupp

SVP/CRO

Boeing Employees CU
Jayson Amandus

VP Indirect

Consumers CU
Steve Owens

CLO

Indiana Members CU
Scott Mann

CRO

Nusenda CU
Adam Heying

CFO

Patelco CU
Richard Wada

CLO

Security Service FCU
Charles Goss

EVP/CLO

Summit CU
Ric Mathias

SVP

Vantage West CU
Jeremy Pinard

CLO

America First CU
Brett Christensen

SVP/CLO

Canvas CU
Chad Shane

CLO

Financial Partners CU
Eric Zittel

EVP

Langley FCU
Curtis Baker

CLO

OnPoint Community CU
Steve Leugers

SVP/CCO

Redwood CU
Michelle Anderson

CFO

Sound CU
Lyman Williams

SVP/CLO

Travis CU
Reva Rao

CLO

Visions FCU
Christopher Alfarano

VP/CLO

Boeing Employees CU
Scott Strand

EVP/COO

Citadel CU
Ed Maier

SVP

Golden 1 CU
Chris Hamilton

EVP

Mountain America CU
Nathan Anderson

EVP/COO

Oregon Community CU
Chris Whittaker

SVP

SchoolsFirst FCU
John Conine

SVP

Sharonview FCU
David Brand

SVP/CLO

TTCU FCU
Floyd Goode

SVP/CLO

Washington State Employees CU
Julie Lind

CLO

Shareholders

1st United Credit Union

A

Advantis Credit Union
Alliant Credit Union
Altura Credit Union
America First Credit Union
Arkansas Federal Credit Union

B

BCU
BECU
Bellco Credit Union
Bellwether Community Credit Union
Bethpage Management Services, LLC
BluPeak Credit Union

C

California Coast Credit Union
California Credit Union League
Canvas Credit Union
Centris Federal Credit Union
Citadel Credit Union
Clark County Credit Union
Coast Central Credit Union
Coastal Federal Credit Union
CoastHills Credit Union
Community First Credit Union
Consolidated Solutions
Consumers Credit Union
Cooperative Credit Union Association
Credit Union of America
Credit Union of Colorado
Credit Union West
Cross Valley Federal Credit Union
CUC Services, Inc.
Cyprus Credit Union

D

DFCU Financial
Digital Federal Credit Union

E

Eagle Community Credit Union
Elevations Credit Union
Erie Federal Credit Union

F

Financial Partners Credit Union
First Entertainment Credit Union
First Tech Federal Credit Union
Frontwave Credit Union

G

Golden 1 Credit Union
Goldenwest Credit Union
GoWest Credit Union Association
Great Basin Federal Credit Union
Greater Nevada Credit Union
GTE Financial

H

Harborstone Credit Union
Hawaiian Financial Federal Credit Union
Heritage Community Credit Union
Heritage Family Credit Union
Hudson River Community Credit Union
Hudson Valley Credit Union
Huzzah, LLC

K

Kinecta Federal Credit Union

L

LBS Financial Credit Union
Logix Federal Credit Union

M

Maps Credit Union
Mazuma Credit Union
Mountain America Credit Union

N

NASA Federal Credit Union
North Coast Credit Union
Northeast Credit Union
Northern Star Credit Union
Nusenda Credit Union
Nutmeg State Financial Credit Union

O

OBee Credit Union
One Nevada Credit Union
OnPoint Community Credit Union
Orange County’s Credit Union
Oregon Community Credit Union

P

Patelco Credit Union
PenFed Credit Union
Police and Fire Federal Credit Union
Power Financial Credit Union
Premier America Credit Union

Q

Qualstar Credit Union

R

Redwood Credit Union
Reseda Group, LLC
Rivermark Community Credit Union

S

Sacramento Credit Union
SAFE Credit Union
San Francisco Federal Credit Union
San Mateo Credit Union
Sandia Laboratory Federal Credit Union
SchoolsFirst Federal Credit Union
Security Service Federal Credit Union
SF Fire Credit Union
Sierra Central Credit Union
Silver State Schools Credit Union
Sound Credit Union
Southland Credit Union
Star One Credit Union
Strata Credit Union
Summit Credit Union
Sun East Federal Credit Union

T

Telco Credit Union
Together Credit Union
Travis Credit Union
Tropical Financial Credit Union
Truliant Federal Credit Union
TrueStage
Tucoemas Federal Credit Union
TwinStar Credit Union

U

UFirst Credit Union
UMassFive College Federal Credit Union
UNIFY Financial Credit Union
United Local Credit Union
Unitus Community Credit Union
University of Michigan Credit Union
University of Wisconsin Credit Union

V

Valley First Credit Union
Vantage West Credit Union
Verity Credit Union
Visions Federal Credit Union

W

Water & Power Community Credit Union
We Florida Financial Credit Union
Wescom Credit Union
WeStreet Credit Union
WestStar Credit Union
WSECU

Y

Yolo Federal Credit Union