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.
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
Credit union members represented
Total funding in 2022
Loans processed through our platforms in 2022
Loans processed through our platform
(since company start)
Indirect funding in 2022
Total direct funding in 2022
Applications processed in 2022
Total funding (since company start)
Members served in 2022
(Origence Lending Services)
Total funding in 2022
(Origence Lending Services)
Credit unions served
(Origence Lending Services)
To create the ultimate origination experience.
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)
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)
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
President & CEO • SchoolsFirst Federal Credit Union
President & CEO • Canvas Credit Union
President & CEO • America First Credit Union
President & CEO • Sandia Laboratory Federal Credit Union
President & CEO • Summit Credit Union
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
President & CEO
Chief Operating Officer
Chief Revenue Officer
Chief Financial Officer
Chief Product Officer
Chief Technology Officer
Chief People and Engagement Officer
VP/CLO • Visions Federal Credit Union
EVP/COO • Mountain America Credit Union
SVP/CLO • Sharonview Federal Credit Union
CLO • Oregon Community Credit Union
SVP • SchoolsFirst Federal Credit Union
EVP/CLO • Security Service Federal Credit Union
SVP/CCO • OnPoint Community Credit Union
SVP • Citadel Credit Union
SVP Sales Operations • Summit Credit Union
CLO • Consumers Credit Union
SVP/CRO • Affinity Plus Federal Credit Union
EVP/COO • Boeing Employees Credit Union
SVP/CLO • Alliant Federal Credit Union
CLO • Redwood Credit Union
SVP/CLO • Financial Partners Credit Union
SVP Consumer Lending • First Tech Federal Credit Union
SVP/CLO • America First Credit Union
SVP/CLO • TTCU Federal Credit Union
CFO • Nusenda Credit Union
CLO • Washington State Employees Credit Union
CRO • Indiana Members Credit Union
EVP/CLO • Golden 1 Credit Union
CLO • Vantage West Credit Union
CLO • Canvas Credit Union
CLO • Patelco Credit Union