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2022 Annual Report

Chairperson and President's Report

We are proud to report that 2022 was the best year ever for Origence, marked by record-setting achievements and transformative initiatives. As a credit union service organization (CUSO), this success truly belongs to our credit union partners and their continued support.

In 2022, Origence remained true to our vision to create the ultimate origination experience, serving 1,100 credit unions representing 64 million members. Our dealer coverage now includes 19,700 dealerships on the CUDL® network.

This network effect helped fuel our Total Funded Loans, which reached an all-time high of $79.7 billion, with $67.1 billion attributed to Indirect Loans. Credit unions funded an astounding 2.7 million loans through our platforms, with 1.7 million of those funded digitally through Smart Fund, our e-contracting solution. Origence Lending Services, our subsidiary, which allows credit unions to outsource their loan processing, also turned in a record year with an 83% increase in Loans Funded over 2021. As a result of this positive performance, we were excited to announce a $50 per share dividend payment to shareholders.

A new era for our company
While achieving record-breaking results, we focused on strategic auto lending initiatives to create additional value for credit unions. Our shift to the Scaled Agile Framework® (SAFe®) enhanced our product development, fostering improved quality output and employee engagement. During 2022, we improved the resilience of our business by investing in the future and moving all of our products into the Azure Cloud. This allowed us to deliver heightened system uptime and stability while providing added flexibility for new product releases.

These initiatives were essential as we lay the groundwork for next-generation solutions and platforms to help credit unions remain competitive amid evolving consumer behavior. Origence is committed to connecting credit unions to new lending channels and securing “top-of-funnel” opportunities.

Our annual users’ conference, Lending Tech Live, returned to in-person and was our highest-attended event ever. It was also where we proudly announced that, moving forward, CU Direct would do business as Origence. The Origence name was originally launched as our credit union brand and now extends to encompass all of our solutions. Embracing the name Origence, which was created by combining the words “origination” and “experience,” symbolizes our commitment to transforming the lending and financing experience for credit unions and dealerships.

Looking toward the future
Our drive to transform credit union lending relies on advancing our solutions and technology. We see this playing out through new offerings in 2023, notably the added ability to apply for, underwrite, and fund HELOCs through our consumer loan origination software.

As the lending landscape evolves, we must also forge strong connections with best-in-breed technology partners. This is especially true in the area of AI and automation. Our industry has exciting AI pioneers, and we are proud to call them strategic partners. In 2022 we announced an integration and investment in Zest AI to incorporate industry-leading artificial intelligence and machine learning into our lending platform. We also announced an integration with Informed.IQ to provide sophisticated document process automation for indirect lending.

Being our authentic selves
At Origence, we empower our people by fostering an environment that values diversity, equity, and inclusion. We were proud to see our Employee Resource Groups (ERGs) grow and flourish over the past year. Our ERGs now include five sponsored groups with 150 participants and have hosted over 20 events.

As we move into the future, we reaffirm our commitment to prioritizing our team, representing the industry, and forging strong collaborations with our clients. These principles remain at the core of our company.

On behalf of the Board of Directors, management, and the entire Origence team, we want to thank you for a successful 2022. We are excited to embark on this next chapter in our company’s history, bringing new ideas, solutions, and opportunities to the credit union industry.

Jim LaffoonChairperson

Tony BoutellePresident & CEO


2022 financials can be viewed on our financials page.

A Year in Review

Origence had its best year ever in 2022, in collaboration with our partner credit unions and dealerships. As a CUSO, we are proud to serve the needs of credit union members across the country.


Total financial institutions represented

64 million

Credit union members represented


Total dealerships

$79.7 Billion

Total funding in 2022

2.7 Million

Loans processed through our platforms in 2022

21.1 Million

Loans processed through our platform
(since company start)

$67.1 Billion

Indirect funding in 2022

$12.6 Billion

Total direct funding in 2022

9.6 Million

Applications processed in 2022

$496 Billion

Total funding (since company start)


Members served in 2022
(Origence Lending Services)

$17.1 Billion

Total funding in 2022
(Origence Lending Services)


Credit unions served
(Origence Lending Services)






To create the ultimate origination experience.


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

Diversity, Equity, and Inclusion (DEI)

Origence believes in the power of an inclusive workplace. By empowering our team to be their authentic selves, we position our company to better reflect the diverse communities that we serve. Origence is proud to sponsor Employee Resource Groups (ERGs) that help foster a safe, collaborative work environment:

BEST (Black Employees Striving in Tech)
LIFT (Latinx In Financial Technology)
PRIDE (Promoting Respect, Inclusion, and Dignity for Everyone as LGBTQ+ Employees and Allies)
LEAAD (Leadership Empowerment for Asian and Ally Development)
WILD (Women in Leadership Development)

Our Brands

Origence offers software and solutions to credit unions, financial institutions, automobile dealers, and other businesses marketed under the brands Origence®, CUDL®, Origence Lending ServicesTM.

  • Origence arc
    • arc DX (all new digital experience)
    • arc OS (formerly Lending 360)
    • arc MX (formerly Intuvo)
  • Indirect lending (CUDL)
  • Vehicle shopping (AutoSMART)
  • Information services
  • Financing platform & lender network (CUDL)
  • Vehicle shopping & financing solution (AutoSMART)
  • Online advertising (AutoSMART PLUS/Spotlight Ads)
  • Full-service loan processing
  • Underwriting services
  • Document services
  • Call services

Board of Directors

Chairperson • Jim Laffoon

President & CEO • Security Service Federal Credit Union

Vice Chairperson • Erin Mendez

President & CEO • Patelco Credit Union

Secretary & Treasurer • Bob McKay

President & CEO • Together Credit Union

Bill Cheney

President & CEO • SchoolsFirst Federal Credit Union

Todd Marksberry

President & CEO • Canvas Credit Union

Thayne Shaffer

President & CEO • America First Credit Union

Steph Sherrodd

President & CEO • Sandia Laboratory Federal Credit Union

Kim Sponem

President & CEO • Summit Credit Union

Keith Sultemeier

President & CEO • Kinecta Federal Credit Union

Associate Director • Don Clark

President & CEO • Sound Credit Union

Associate Director • Ron Neumann

President & CEO • OCCU

Associate Director • Karen Roch

President & CEO • Credit Union West

Associate Director • Sandra Sagehorn-Elliott

President & CEO • Vantage West Credit Union

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

Christopher Alfarano
VP/CLO • Visions Federal Credit Union

Nathan Anderson
EVP/COO • Mountain America Credit Union

David Brand
SVP/CLO • Sharonview Federal Credit Union

Russ Bernardo
CLO • Oregon Community Credit Union

John Conine
SVP • SchoolsFirst Federal Credit Union

Charles Goss
EVP/CLO • Security Service Federal Credit Union

Steve Leugers
SVP/CCO • OnPoint Community Credit Union

Ed Maier
SVP • Citadel Credit Union

Ric Mathias
SVP Sales Operations • Summit Credit Union

Steve Owens
CLO • Consumers Credit Union

Corey Rupp
SVP/CRO • Affinity Plus Federal Credit Union

Scott Strand
EVP/COO • Boeing Employees Credit Union

Harry Zhu
SVP/CLO • Alliant Federal Credit Union

Michelle Anderson
CLO • Redwood Credit Union

Joe Brancucci
SVP/CLO • Financial Partners Credit Union

Sandi Papenfuhs
SVP Consumer Lending • First Tech Federal Credit Union

Brett Christensen
SVP/CLO • America First Credit Union

Floyd Goode
SVP/CLO • TTCU Federal Credit Union

Adam Heying
CFO • Nusenda Credit Union

Julie Lind
CLO • Washington State Employees Credit Union

Scott Mann
CRO • Indiana Members Credit Union

Richard Musci
EVP/CLO • Golden 1 Credit Union

Jeremy Pinard
CLO • Vantage West Credit Union

Chad Shane
CLO • Canvas Credit Union

Richard Wada
CLO • Patelco Credit Union